Stronger-than-expected macroeconomic data combined with the Fed’s hawkish comments have increased investor anxiety. However, the pharma sector tends to be more resilient to economic downturns compared to others, as the demand for pharmaceutical products is generally not affected by macroeconomic conditions.
Hence, I think quality pharma stock Pfizer Inc. (PFE) might be a smart investment for under $50 amid market uncertainty. In addition, PFE has a track record of steady dividend growth and strong financials.
