Tech Stocks Struggle While Consumer Staples Shine
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4d ago
0mins
Should l Buy AMGN?
Source: Yahoo Finance
- Tech Sector Weakness: On Tuesday, tech stocks like AMD and Lumentum struggled, leading to a bearish market sentiment that reflects investor concerns over high valuations, potentially impacting future investment decisions.
- Consumer Staples Resilience: In stark contrast to tech stocks, the consumer staples sector showed strong performance, indicating a market preference for stable earnings, which may attract more capital into this area to mitigate risk.
- Regional Banks' Steady Growth: Regional banks demonstrated resilience amid market volatility, drawing investor attention and suggesting that traditional financial institutions remain attractive in uncertain economic conditions, potentially driving their stock prices higher.
- Precious Metals and Industrials Recovery: The strong performance of precious metals and industrials indicates an increased demand for safe-haven assets, reflecting investor concerns about potential economic slowdowns, which could influence investment strategies in related sectors.
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Analyst Views on AMGN
Wall Street analysts forecast AMGN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMGN is 345.87 USD with a low forecast of 272.00 USD and a high forecast of 425.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
11 Buy
7 Hold
1 Sell
Moderate Buy
Current: 367.800
Low
272.00
Averages
345.87
High
425.00
Current: 367.800
Low
272.00
Averages
345.87
High
425.00
About AMGN
Amgen Inc. is a biotechnology company. It discovers, develops, manufactures and delivers medicines for the toughest diseases. It focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve people’s lives. It operates in the human therapeutics segment. Its marketed products portfolio includes EPOGEN (epoetin alfa); Aranesp (darbepoetin alfa); Parsabiv (etelcalcetide); Neulasta (pegfilgrastim); KANJINTI (trastuzumab-anns); Otezla; BLINCYTO (blinatumomab); ACTIMMUNE (interferon gamma-1b); Neulasta (pegfilgrastim); Sensipar/Mimpara (cinacalcet); Prolia (denosumab); ENBREL; QUINSAIR (levofloxacin); Repatha (evolocumab) and others. It markets ENBREL, a tumor necrosis factor blocker, in the United States and Canada. It markets Otezla, a small molecule that inhibits phosphodiesterase 4, in many countries around the world. It markets Repatha, a proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor, in many countries around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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