Pfizer (PFE) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Last year was a stellar one for Pfizer (NYSE: PFE). In January, Pfizer announced not only its latest earnings results but also a forecast for 2023, which tells investors what they already knew was inevitable: a sharp decline in sales is coming. A decline in revenue isn't a shock given that concerns surrounding COVID appear to be fading, but the reason for the soft numbers isn't entirely due to demand.
January gave investors hope that the bear market is finally ending. The S&P 500 rose 6%, while the tech-heavy Nasdaq jumped more than 10%. A handful of important market trends emerged thanks to evolving risk tolerance and growth expectations.