In the last few days of last year, the TOP 3 U.S. IT Stocks market moved neutrally. The Santa Claus rally never materialized. The S&P 500 index at the last trading decreased by 0.2%; the quotation — was 3830 points. The focus is on IT stocks and related industries.
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Tesla (TSLA)
Last year’s outsider, whose stock lost 68%. In 2022, the company reported 1.31 million deliveries, up 40% (y/y). In Q4, the figure was 405,300, and production was 439,700. Last year, Tesla launched production at two new plants in Texas and Germany. The company said in its Q3 presentation that it wants to achieve a 50% annual increase.
Coronavirus restrictions in China, which led to the suspension of production at the Shanghai plant, negatively affected Tesla’s business. In the second half of the year, the company launched discount programs. Demand for electric cars may weaken, but Tesla could be the beneficiary of Joe Biden’s policy to stimulate demand.
The stock has approached an oversold zone on the weekly chart, according to the RSI index (14); on the daily chart, it’s already there (28). TSLA has gone below the $120 support level. The stock is down 12%, quoted at $108 on Tuesday. Locally, the stock could go down to $100. If a rebound develops, the stock could rise to $150.
Amazon (AMZN)
AMZN stock is down 51% in 2022. The problems are high inflation, rising interest rates, and logistics. Amazon’s sales have slowed, and costs have risen. In December, the company announced its intention to lay off. More than 10,000 employees. CNBC’s forecast assumes a 19.3% increase in earnings per share over the next 12 months and a 38.5% average annual increase over the next 3-5 years.
The recent quote is $84.7. The stock is adding 0.8%. Securities are near the support level of $80; on Monday, they went down to this mark. In case of consolidation above $90, the technical target will be $101.
IBM
IBM stock was up 6% in 2022. By comparison, the NASDAQ Composite Index lost 33.1%. Investors moved into the less volatile securities of companies with stable cash flows and high dividend yields (6.6% for IBM). Last year, IBM separated Kyndryl’s infrastructure business into a separate entity.
The staff was cut by 90,000. CNBC’s forecast assumes an 8.2% increase in earnings per share over the next 12 months and an average decline of 11.2% per year over the next 3-5 years.
The latest quote is $141.5, and the stock is up 0.3%. There is a support level near $138.6. The stock is approaching the resistance level formed by the 50-day moving average of $142.6-143. If this level is broken, the stock may test at $146.
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