The next Apple? 5 stocks poised for massive growth in 2023

It is no surprise that Apple (NASDAQ: AAPL) has long had a reputation on the stock market as one of its best performers and an example to blue-chip stocks and other businesses vying to achieve the same recognition.

With this in mind, Finbold has gathered data on the historical price performance and relevant developments that signal which stocks might have a bright future as 2023 unfolds and might therefore represent a good investment opportunity.

Coinbase (NASDAQ: COIN)

A popular cryptocurrency trading platform that allows users to buy, sell, and store cryptocurrencies, Coinbase (NASDAQ: COIN) went public in 2021, having experienced significant price fluctuations over time since its initial public offering due to various reasons mostly to do with developments in the crypto market.

Despite that, COIN found itself among Finbold’s 5 blockchain stocks to invest in April 2023 due to its price being up 90.95% year-to-date (YTD) at the time, and at press time, this positive change amounts to a whopping 110.96%, as the crypto exchange is preparing to launch its Layer 2 network called ‘Base.’

In the last month, COIN has been trading in a wide range between $68.20 and $85.38 and is currently on the lower end of it. However, it is also in the middle of its 52-week range.

COIN price chart. Source: Finviz

Tesla (NASDAQ: TSLA)

A stock that doesn’t need any special introduction, Elon Musk’s automobile mammoth Tesla (NASDAQ: TSLA) has managed to grow its price from a low of $108 in early January to a high of about $214 in mid-February, currently changing hands at the price of $168, which means it has managed to grow its value over 40% since the year’s turn.

On top of that, Tesla’s stock has benefitted from the company’s efforts to increase its presence in the international market for electric vehicles (EVs), with an emphasis on innovation and further technological advancement, making it the front-runner in the industry and gathering a large consumer base. 

Meanwhile, the monthly trading range for TSLA has been $162.90 – $207.79, and the stock is currently on its lower end, as the most recent information suggests.

TSLA year-to-date (YTD) chart. Source: Finbold

NVIDIA Corporation (NASDAQ: NVDA)

The computer hardware giant NVIDIA Corporation (NASDAQ: NVDA) has witnessed a massive growth of its stock in 2023, having surged over 80% since the beginning of the year, driven by the expanding artificial intelligence (AI) sector, as the company positions itself as a supplier of chips for use cases such as chatbots.

Moreover, its gaming division witnessed recovery as well, and its graphic processing units (GPUs) are widely used by crypto miners, while Nvidia’s positive earnings report for the fourth quarter of 2022 provided more strength to its stock, which is currently trading at $271.04.

Compared to the yearly performance of other stocks, NVDA is at press time outperforming as much as 97% of them, leading the market by trading near its 52-week high, as data indicates.

NVIDIA 1-month price chart. Source: Finbold

Walt Disney Co. (NYSE: DIS)

Walt Disney Co. (NYSE: DIS) has found itself at the center of a political power struggle, but more important is the November 2022 return of its longtime CEO Bob Iger, after which Disney’s earnings report for February, the first since Iger’s return, exceeded expectations in both earnings and revenue.

To top it off, the subscriber losses following the Disney+ price hike were lower than expected, and the revenue from Disney’s theme parks soared as much as 21% in the first quarter. Currently, DIS is changing hands at the price of $98.37, which demonstrates an increase of nearly 13% since January 1. 

Disney’s monthly trading range has been between $93.02 and $102.22, with its current price residing in the middle of this range. As part of the entertainment industry, DIS has done better than 51% of them.

DIS year-to-date (YTD) chart. Source: Finbold

Unity Software (NYSE: U)

A leading graphics engine used by developers of some of the major video game titles, Unity (NYSE: U) may have only increased its price by 2.27% since the year’s turn, but the announcement of expansion into other verticals, such as e-commerce and video automation, should park its further growth in 2023.

On top of that, Unity Software’s most prominent feature is its interoperability, which is why Meta Platforms Inc. (NASDAQ: META) reportedly considered buying it as part of its metaverse goals a few years ago, according to the book ‘The History of the Future’ by Blake Harris.

Over the past 30 days, Unity has been trading in the range between $27.36 and $32.90, currently standing in the middle of it, which indicates the presence of some resistance above.

U yearly price chart. Source: Finviz

Conclusion

Taking into account the rapid development of the above-mentioned stocks, it is quite possible that they are poised for massive growth in 2023. However, like the crypto sector, the stock market itself can sometimes throw a surprise or two at an unsuspecting investor, which is why patience, research, and analysis are adamant.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source: https://finbold.com/the-next-apple-5-stocks-poised-for-massive-growth-in-2023/