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With U.S. stock markets rising by double digits in 2023, and the S&P 500 Index ($SPX) trading near its all-time highs, it might seem tough to find cheap and undervalued names – especially in the tech sector, which served as the torchbearer of the 2023 rally.
Furthermore, at least a section of the market believes that stock valuations are getting a bit stretched after the stellar rally in 2023 - which, to be honest, not many analysts had predicted. However, a combination of the U.S. economy’s resilience, the continued fall in inflation, and the Fed’s dovish signals helped bulls get the upper hand over bears in 2023, after having lost out the previous year.
