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Here are our 4 best stocks — and 4 worst stocks — of the first quarter

Published

3 years ago

March 31, 2023

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Traders work on the floor of the New York Stock Exchange during morning trading on March 22, 2023 in New York City.

Michael M. Santiago | Getty Images News | Getty Images

The S&P 500 concluded a topsy-turvy — yet winning — first quarter of 2023 on Friday, overcoming a shock to the U.S. banking system in March to rise around 7%. The tech-heavy Nasdaq Composite proved to be the real standout, soaring nearly 17%. The 30-stock Dow Jones Industrial Average, meanwhile, eked out a roughly 0.4% gain.

Stocks’ rip-roaring January eased in February, with all three major Wall Street indexes finishing lower in that month. Then came the failure of three U.S. banks within days of each other starting March 8, which spooked investors and further stoked recession fears. The S&P 500 briefly went negative for the year on March 15, a rough session defined by banking concerns spreading to Europe. But as the bank crisis stabilized over the past two weeks, the averages more than bounced back.

Here’s a look at the best and worst performers in the Club’s 36-stock portfolio for the first quarter, beginning with the top four gainers.

Tech stocks lead the way

Nvidia CEO Jensen Huang speaks at a press conference on Jan. 7, 2018.

MANDEL NGAN | AFP | Getty Images

Nvidia (NVDA) captured the first-quarter crown, soaring an astounding 90% over the three-month period. The chipmaker is not only the Club’s best-performing holding, but the biggest winner in the entire S&P 500.

The driving force behind Nvidia’s move: artificial intelligence. The AI buzz sparked by ChatGPT in late 2022 intensified throughout the first quarter, so it’s no surprise that investors flocked toward the company whose technology — both on the hardware and software side — is at the heart of the trend.
Nvidia’s fourth-quarter earnings, in late February, only enhanced its shine. It reported better-than-expected results along with strong forward guidance, including quarter-over-quarter growth fueled by its data center and gaming segments.
The strength in data center captures the tangible impact AI adoption has for Nvidia. Investors also took solace in the fact the gaming inventory correction that plagued the company in recent quarters is largely in the rearview mirror at this point. That’s another important reason why Nvidia’s stock did so well.

Nvidia’s stock performance year to date.

Meta Platforms (META) finished in second place in both the Club’s portfolio and the S&P 500 overall, climbing 76.1%.

CEO Mark Zuckerberg dubbed 2023 the “year of efficiency” for the Instagram and Facebook parent. So far, management’s actions have lived up to the billing. Meta in March announced plans to cut 10,000 jobs, on top of 11,000-plus layoffs disclosed in November.
Crucially, the social media giant also lowered its 2023 expense outlook for the second time this year. It now stands between $86 billion to $92 billion, down from the $89 billion-to-$95 billion range issued in February.
Meta’s initial 2023 expense guidance of $96 billion and $101 billion flabbergasted Wall Street in late October, causing a huge sell-off in the already downtrodden stock. Now, investors are thrilled that Zuckerberg and Co. got serious about better aligned expenses with slower revenue growth.

Meta’s stock performance year to date.

Advanced Micro Devices (AMD) had the third-best performance in the first quarter, with shares advancing just over 51.3%.

On Jan. 31, AMD CEO Lisa Su called the bottom in the chipmaker’s beleaguered PC business, saying the first quarter should be the trough with growth returning in the second quarter and into the rest of the year. That important statement gave investors confidence the chip inventory glut that crushed the company — and industry peers alike — last year was nearing an end.
All signs also continue to point to AMD taking share from chief rival Intel (INTC) in the data center processor market. Su said AMD expects more share growth to occur in the third and fourth quarters, along with an overall improvement in the data center market.
AMD also is seen as another winner in AI adoption, which has helped lift sentiment around the stock in the first quarter. In the second half of this year, AMD is expected to launch its next-generation supercomputer processor, which can be used for large language model applications. (ChatGPT is one example of a large language model, though it was trained on a Microsoft-built supercomputer that used Nvidia chips).

Advanced Micro Device’s stock performance year to date.

Checking in fourth was Salesforce (CRM), which saw its stock price climb 50.7% in the first quarter.

The enterprise software maker’s stellar earnings report and guidance March 1 cemented investors’ warming attitude toward the company. Salesforce surged 11.5% the following day, one of its best single-session gains in a decade, because it was clear significant profitability improvements were underway.
Salesforce shares were up more than 20% year to date before that earnings print, amid a broader rotation into the tech stocks that struggled in 2022, and on hopes that the five activist investors with stakes in the company could bring about margin expansion. The actual report confirmed CEO Marc Benioff is delivering on what investors care about — becoming more profitable and managing dilution with an enhanced buyback.
Salesforce expects an adjusting operating margin of 27% in fiscal 2024, much better than analysts’ 22.8% estimate. Its share repurchase authorization increased to $20 billion, doubling the $10 billion buyback program first announced last year.

Salesforce’s year to date stock performance.

What’s the common denominator among the winners? These four stocks were beaten up last year as the Federal Reserve got aggressive with interest-rate hikes, crushing stocks with premium valuations and causing slowdowns in each business due to economic uncertainty. But as the calendar turned, investors realized they were far too negative on these tech stocks and regained appreciation of their secular growth stories.

Within this group, there are some additional overlaps. Some are self-help stories, such as Meta and Salesforce. Both companies put their cost structures under the microscope and found ways to reduce expenses. Layoffs are never easy, but the two companies did what was necessary to fix their business models. Stocks of other companies that “took their medicine” have done well in 2023 too.

Others top performers are business-cycle related. For both semiconductors companies, inventory gluts in the industries they sell into punished those stocks in 2022. For AMD, it was PC chips, and for Nvidia it was gaming GPUs. The gluts were so severe that it forced both companies to take big charges on their inventory. But after a couple of quarters of working the excess inventory down, both AMD and Nvidia expect the first quarter to represent the trough of those respective businesses.

First quarter laggards

A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma.

J. Pat Carter | Getty Images

Halliburton (HAL) shares fell 19.6% in the first quarter, making the oilfield services firm the Club’s worst-performing stock in the period.

Halliburton’s weakness is tied to factors outside the company’s control — specifically, the roughly 6% decline in West Texas Intermediate crude prices in the first quarter. Keep in mind Halliburton shares also soared 55% in the fourth quarter, so the stock entered the new year vulnerable to profit taking.
Fundamentally, Halliburton offered investors a lot to like in the first three months of the year. In late January, it raised its dividend by a third to $0.16 per share and announced the resumption of its stock buyback program. It also reported better-than-expected fourth quarter numbers and a robust full-year outlook, with CEO Jeff Miller saying customer spending is expected to grow by at least 15% in 2023. He also indicated Halliburton continues to have pricing power.

Halliburton’s stock performance year to date.

Devon Energy (DVN) was second from the bottom, with shares falling 17.7% in the first quarter.

Similar to Halliburton, the overall oil market weighed on Devon’s stock price in period.
But unlike Halliburton, Devon in February rankled investors with its fourth-quarter results and 2023 outlook, which featured higher-than-expected capital expenditures and lower-than-anticipated production projections. That’s a double whammy of disappointment.

Devon Energy’s stock performance year to date.

The third-worst performing Club stock in the first quarter was Johnson & Johnson (JNJ), which saw its stock price decline 12.3% over the three-month stretch.

A broader rotation out of health-care stocks, one of 2022’s top sectors, contributed to Johnson & Johnson’s weakness in the first quarter. For context, the Club’s three other health stocks — Eli Lilly (LLY), Humana (HUM) and Danaher (DHR) — also ended the quarter in the red.
However, concerns about J&J’s ongoing talc litigation resurfaced in the quarter following an unfavorable court ruling on the drugmaker’s strategy to resolve the claims. That ruling, handed down Jan. 30 by a U.S. appeals court, has proven to be an additional overhang on J&J shares.
Despite the stock struggles, J&J’s most recent quarterly results, issued in late January, showed healthy growth and solid free cash flow generation.

Johnson & Johnson’s stock performance year to date.

Honeywell International (HON) rounds out our list as the fourth-worst performer in the first quarter, falling 10.8%.

Honeywell’s strong 2022 did not extend to the first three months of this year. It didn’t take long for sentiment to sour on Honeywell, either. On Jan. 4, UBS double-downgraded the industrial conglomerate, taking its rating to sell from buy.
It’s been tough sledding for the stock since, with Honeywell’s uninspiring fourth-quarter earnings print in early February unable to shake off the malaise. The company’s sizable aerospace unit remains especially well-positioned, but it’s not getting a ton of love from Wall Street.
Compounding matters for Honeywell is an upcoming CEO transition, which was announced March 14. President and COO Vimal Kapur is set to replace Darius Adamczyk on June 1. Adamczyk will remain executive chairman.

Honeywell’s year to date stock performance.

What is the common denominator among the laggards? It’s pretty simple to see. These four stocks all outperformed the S&P 500 by a wide margin last year. The total return (including dividends) on Halliburton was 75% and Devon’s was 52%. Johnson & Johnson and Honeywell both delivered around 5% compared with the S&P 500’s total return of about minus 18%. As the old saying goes, one key to investing is buying low and selling high. That’s what the market did to a lot of stocks in the first quarter. It sold off what investors “hid in” last year to buy what got crushed and historically does better when there is light at the end of the Fed tightening cycle.

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Environment

This startup raised $8M to store clean energy under the sea

Published

3 hours ago

October 22, 2025

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This startup raised M to store clean energy under the sea

Ocean energy storage startup Sizable Energy just raised $8 million to bring its long-duration offshore pumped hydro system to market.

The round was led by Playground Global, with backing from Exa Ventures, Verve Ventures, Satgana, EDEN/IAG, and Unruly Capital. The funding will help Sizable move from successful wave basin testing at the Maritime Research Institute Netherlands (MARIN) to full sea trials off the coast of Reggio Calabria, Italy.

Turning ocean depth into long-duration energy storage

Sizable Energy is reimagining pumped hydro storage for the sea. Instead of using freshwater and dams, the company’s system uses saturated sea-salt brine – about 20% denser than seawater – that moves between a floating reservoir and a deep-water reservoir. By harnessing gravity and ocean depth, it can store and release gigawatt-scale power without the land use or environmental impact of onshore hydro projects. Here’s a video explaining how it works:

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Environment

YASA just destroyed its own record for power density with its state-of-the-art axial flux motor

Published

6 hours ago

October 22, 2025

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YASA just destroyed its own record for power density with its state-of-the-art axial flux motor

Three months after declaring an unofficial world record achievement in power density for an electric motor, YASA’s latest axial flux prototype has shattered that previous benchmark. The axial flux motor specialist is touting another unofficial world record, achieved with an even lighter design.

If you haven’t heard of YASA, we recommend checking out this unique company, which is doing some extraordinary things with electric motors. Over the past 16 years, YASA has evolved in tandem with its technology, revisiting and refining traditional designs dating back to the 1820s by optimizing them with modern components and materials. The result is the axial flux motor – a genuinely viable alternative to conventional radial motors used in most EVs today.

YASA motors have been integrated in production vehicles like the Koenigsegg Regera and the Ferrari Stradale SF90 hybrid. In 2023, we saw the first implementation of YASA’s axial flux motors in a Mercedes vehiclee, the Vision One Eleven concept, after the German automaker acquired the company in 2021.

By late 2024, we saw Mercedes’ first integration of YASA’s axial flux motors into its AMG.EA architecture featuring 800V capabilities and support for dual and tri-motor systems. At the time, YASA said each of its axial flux motors offers four times more torque and double the power of nearly all current tech on the market.

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Over the summer, YASA proved the tremendous power of its axial flux motor during real-world trials, achieving an unofficial world record in power density. Now, just a few months later, YASA is touting a lighter motor that delivers significantly more power, declaring yet another unofficial world record.

YASA’s axial flux motors could be a game-changer

To understand the latest milestone recently achieved by YASA, you need to look at the data from its last record-setting trial, which included a 13.1 kg axial flux prototype. As we reported in July, that version was able to achieve a peak rating of 550 kW (738 hp), equating to a power density of 42 kW/kg.

An unofficial world record.

Most recently, however, YASA has been testing a lighter axial flux motor prototype, weighing in at 12.7kg, on a more powerful dynamometer. The latest trials delivered a 750 kW (1000+ hp) short-term peak rating, resulting in a power density of 59 kW/kg – a 40% increase from initial testing and another unofficial world record.

According to YASA CEO Joerg Miska, that’s also triple the performance density of the top radial flux motors currently available in the industry.

Peak power aside, YASA’s latest axial flux motor has the makings of something truly special. The company reported that it estimates the continuous power of its latest prototype to be “in the region of 350kW-400kW (469 hp-536 hp).”

That’s quite impressive when you consider the limited weight and size of such an electric motor and even more exciting when you think of the possibility of four of them (or even two) powering future EVs. YASA founder and CTO Tim Woolmer spoke to the achievement:

On behalf of the entire YASA team, I’m proud and excited to so quickly follow up on the already remarkable results of our initial testing with this incredible result. To achieve a 750 kW short-term peak rating and a density of 59 kW/kg is a major validation of our next-generation axial flux technology. It’s proof of what focused engineering innovation can achieve. And this isn’t a concept on a screen — it’s running, right now, on the dynos. We’ve built an electric motor that’s significantly more power-dense than anything before it – all with scalable materials and processes. This motor will bring game-changing technology to the high-performance automotive sector.

While these prototypes still have a way to go before reaching scaled production, this latest achievement offers real-life evidence that the technology works and could change the way OEMs approach powertrain design. YASA’s Chief of New Technology, Simon Odling, said it best:

The early results are extremely encouraging. The motor’s performance on the dyno has exceeded even our most optimistic simulations. As well as its incredible peak power and overall power density, we estimate this new motor will be able to deliver all-important continuous power in the region of 350kW-400kW. This is real hardware, in real life, delivering real data – and it’s performing beautifully.

YASA’s team of engineers is already deep into the validation process of this latest axial flux prototype motor, promising further details of its development in the near future.

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Environment

Here are 6 great reasons rural drivers SHOULD embrace EVs in 2026

Published

15 hours ago

October 21, 2025

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Here are 6 great reasons rural drivers SHOULD embrace EVs in 2026

5 Ways Rural Drivers Benefit from Electric Vehicles

America’s heartland is full of rural communities that are miles away from its major cities, both geographically and culturally – but that doesn’t mean these more sparsely populated regions can’t reap the benefits of electrification. In fact, EVs offer rural drivers even more benefits than they do to city-dwellers!

“An electric lifestyle would be a boon to our rural heartland,” wrote th e Union of Concerned Scientists’ Maria Cecilia Pinto de Moura. “Rural communities across the country have their own distinguishing characteristics, but certain shared characteristics such as driving distances, the type of vehicles driven, and socio-economics are factors which contribute to this larger potential to benefit from vehicle electrification.”

Pinto de Moura went on to outline five ways rural and country drivers could benefit from going electric – but that was in 2021, and a whole lot has changed in the nearly five years since.

As such, I thought it was high time we revisit some of the reasons EVs could be a great fit for rural lifestyles, see if we could uncover any new ones, and outline the reasons we think rural drivers should rush to embrace electric vehicles in the coming calendar year.

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1. More miles means more savings

David Blenkle's 2022 Ford Mustang Mach-E, used for his own car service, has surpassed more than 250,000 miles in three years, providing a real-world example of what's possible with high-milage electric vehicles. — David Blenkle’s 252,000 mile Mustang Mach-E; via Ford.

When you hear that line about, “the average American drives 30 to 40 miles a day,” remember that in towns like Wellington, Ohio, or Colfax, Washington, 30 miles is a grocery run. Each way. So when people trot out that old line about range anxiety, what rural drivers actually hear isn’t reassurance. It’s dismissal — a suggestion that they drive too far for an EV to work, when nothing could be further from the truth.

A recent study by Rural Climate Partnership found that rural drivers spend an average of 44% more on fuel than city dwellers, and that the top 3.6% of rural drivers — the “supermilers” who rack up the most miles — could save over $4,000 each year by switching to electric fuel.

2. Electric trucks have arrived

Here’s How Much The 2026 GMC Sierra EV Can Tow — Sierra AT4 EV towing a boat; via GM.

Country guys and gals love their pickups, and arguably the single biggest difference between the EV markets of 2021 and 2025 is the proliferation of electric trucks and SUVs ready to help haul, chore, camp, and tow.

Why not save your expensive horses from breathing in gas and diesel exhaust. Haul ’em with your quiet new EV, instead!

3. Home charging just works

Rivian-Tesla-Powerwall — R1S home charging; via Rivian.

With only about 45% of rural counties having access to DC fast charging, public charging still isn’t as visible as many first-time EV buyers might like, but it’s far better than it used to be — and improving fast. Still, that’s not the real EV advantage. Home charging is.

Unlike many apartment-dwelling urban drivers, most rural owners can charge right at home. More than 80% of rural households have a driveway or garage that are ideal for overnight Level 2 charging, and many already have a 240V outlet, keeping setup costs (if there even are any) to a minimum.

Plug in before bed, wake up to a full battery every morning, and do it for pennies on the dollar, especially with off-peak rates.

4. Lifesaving battery power

Ford-Lightning-V2H — F-150 Lightning plugged in; via Ford.

If disaster strikes and you lose power, many electric trucks have the ability to power your home and appliances with the energy stored in their massive batteries – either from the truck itself, or through a V2X home battery system. If you live in an area prone to extreme weather events, the ability to keep medication refrigerated can be a literal life-saver!

5. EVs are more affordable than ever

Ford E-Transit Van — E-transit electric van; via Ford.

It’s been a few years since a working class guy could reasonably expect to get a new pickup for less than $50,000. And, while much has been made of the “high cost of electric vehicles,” the truth is that thanks to killer lease deals, new tax incentives, and companies like Ford Pro and TRC that are willing to help you find even more funding to help pay for them, EVs can often be had for less than a comparable gas model.

As such, getting behind the wheel of an ultra-powerful, ultra smooth-running electric pickup truck from your favorite brand is easier than ever.

6. Energy independence and American jobs

Canoo-US-Army — GM Defense electric military vehicle; via GM.

At the risk of sounding like a paranoid red hat, rural Americans are proud Americans – just like rural Canadians are proud Canadians. Unfortunately, every gallon of gas burned in their pickups and SUVs came from oil drilled, refined, and traded on global markets — and that means supporting the oil business and economies of nations whose values don’t always align with, or maybe are even outright hostile to theirs.

Switching to an EV can help more of that money right here at home, especially as more and better battery recycling efforts come online and newer battery and anode/cathode chemistries are developed, reducing dependence on rare Earth metals, cobalt, and even lithium.

Even better, thanks to the rapid expansion and dramatically reduced costs of wind and solar power, you can power your EV with energy that is 100% Made in the USA, that doesn’t support foreign oil interests even indirectly, and which creates good-paying construction and maintenance jobs for local workers.

What am I missing?

Kia-EV6-GT-lease — EV6 GT burnout; via Kia.

There are obviously more reasons to go electric than these, from lower cost of ownership to saving the planet to absolutely killer burnouts that would make the one-tire-fire era IROC Camaros hang their 305s in shame – but I think those kind of fade into the background as being appealing to all, instead of being especially appealing to rural drivers.

That said, it’s been a long time since I was back in Ohio, so maybe I’ve forgotten what it’s like. You guys are smart, head on down to the comments and let me know what I missed!

Original content from Electrek.

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