The S&P 500’s (SPY) strong snap back to 4,765 is further widening the winners from the losers.
Intuitive Surgical (ISRG) soared by 10% on Wednesday and trades at highly unfavorable valuations. The firm issued a strong preliminary 2023 sales report. It expects procedures on its da Vinci robotic surgical system will increase by between 13% to 16% this year.
Intuitive’s Q4 revenue of $1.93 billion is in line with analyst expectations.
In cybersecurity, Palo Alto Networks (PANW) will attempt to break to new heights. Analysts at Morgan Stanley anticipate rising demand for cybersecurity solutions. Threats are increasing in 2024. Investors may consider Zscaler (ZS), SentinelOne (S), Rapid7 (RPD), and Cloudflare (NET) in this industry.
Drug firm Viatris (VTRS) presented at a J.P. Morgan healthcare conference yesterday. Buyers may continue accumulating shares after the firm outlines its capital allocation strategy. The firm, which is a spinoff of Upjohn and Mylan, will post at least $2.3 billion in free cash flow every year for the next 3-5 years.
In the tech sector, Meta Platforms (META) touched a new high yesterday. The social networking giant has growth potential in Reels, Facebook Shops, and its messaging app. Chinese e-commerce advertisers are tailwinds to Meta’s growth in 2024.
On the under-performance side, First Solar (FSLR) and Etsy (ETSY) closed at 52-week lows. They need to attract bargain hunters to end the downtrend.
