Stocks to Sell: 3 Wall Street Darlings About to Become Investor Nightmares | Markets

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Recent first-quarter earnings reports have underlined the level of uncertainty surrounding tech stocks at a time when confounding Consumer Price Index (CPI) inflation figures have had an adverse impact on Wall Street.

The news of March inflation data being hotter than expected at 3.5% caused widespread concern across U.S. markets. And the prospect of multiple Federal Reserve rate cuts arriving in 2024 are diminishing as a result.

Markets had largely priced in rate cuts arriving as early as March 2024 earlier this year. So, it’s unsurprising that the S&P 500 fell nearly 4% in April off the back of bad news.

Also, this poses fresh challenges for some key members of Wall Street’s Magnificent Seven. These tech stocks have been major beneficiaries of positive market sentiment. Now, as optimism recedes, we’re seeing more frailties emerge. As a result, these three U.S. bets could be moving into sell territory.

Apple (AAPL)

Source: Moab Republic / Shutterstock

With a market capitalization of over $2.5 trillion, Apple (NASDAQ:AAPL) has long enjoyed an extensive market share. They’ve had higher profit margins due to the company’s commitment to innovation and high-spec technology.

However, storm clouds appear to be circling for the Wall Street giant. In January, the stock was downgraded by Barclays. This was due to weaker performance in…

Source investorplace.com

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