Daily Stock Pick: March 3rd, 2023

Stocks ticked higher this morning and were looking to solidify weekly gains as investors processed mixed commentary from Fed officials about policy shifts in 2023. The major averages were on track for a positive week, with the S&P 500 on pace to snap a three-week losing streak. 

Today we’re highlighting a mega-cap tech name with a catalyst-rich event path over the next twelve months. However, due to near-term headwinds, the stock may be underappreciated and undervalued.  

Apple (AAPL)

Apple’s most significant strengths center on its operational dominance. For instance, its three-year revenue growth rate is 20%, beating out 85.62% of its competitors. Its net margin pings at 24.56%, outpacing 95.52% of rivals. Currently, Wall Street analysts peg AAPL as a consensus Strong Buy. Further, their average price target stands at $171.94, implying over 15% upside potential.

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