The Nasdaq Composite is off to a solid start this year, with the index gaining nearly 13% so far as investors have cheered the cooling inflation and the potential arrival of a bull market in 2023. History suggests that the Nasdaq could have a terrific year following 2022's woeful performance. As such, it won't be surprising to see the likes of ASML Holding (NASDAQ: ASML) soar higher on the back of improving stock market sentiment and healthy growth in the top and bottom lines.
We may be entering a period of prolonged leadership from undervalued stocks, with these tickers poised to lead the charge.
Texas Instruments (NASDAQ: TXN) is often considered a safe long-term investment for conservative investors. Instead of developing expensive cutting-edge chips, TI only produces cheaper (albeit essential) analog and embedded chips for the automotive, industrial, personal electronics, communications infrastructure, and enterprise hardware markets. Pumping out large quantities of those cheaper chips enabled TI to generate plenty of cash for big buybacks and dividends.