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The pandemic has connected everyone and everything through digital technology. 2020 has been the most digitizing year to date, with society forced to rely on technology for everything from work & entertainment to grocery shopping. The economy depends on connectivity and the Internet of Things (IoT) to function efficiently in the New Normal. It’s time to start adding chip makers at the forefront of IoT innovation into your portfolio.
Semtech is a leading global supplier of signal semiconductors as well as a provider of cutting-edge infrastructure algorithms for high-end consumer and industrial equipment. This business has remained somewhat under investors’ radar since the dot-com bubble, but that is coming to an end with its recent big tech deals.
The company’s LoRa devices and wireless radio frequencies have been the business’s primary growth driver in 2020 and are the catalyzer for Zacks buy rating today. Semtech’s LoRa recently won the validation of tech giants like Cisco and Amazon, which is expected to drive significant growth in the coming years.
SMTC has been driving innovative growth since the 1960s when it was incepted. 2020 was the first year that these shares have materially exceeded its dot-com bubble high of $60 a share. This stock has a lot more room to run as the 4th Industrial Revolution commences, and the need for connectivity continues to surge.
Analysts have gotten increasingly optimistic about the growth trajectory after its announced team up with Amazon and have pushed up their long-term EPS estimates, driving SMTC into a Zacks Rank #1 (Strong Buy).
LoRa & The Amazon Effect
Amazon is slowly but surely taking over the tech world with its hand seemingly in every technology of the future. Its IoT investment is one that the company hopes will benefit from the increasingly digital & connected economy we live in and will drive substantial growth in the Roaring 20s.
Where Semtech comes in is with the Amazon Sidewalk, with its long-range and low-energy technology, aka LoRa powered devices, which is perfect for the IoT appliances that Amazon is employing. This technology is meant to make society ‘smarter’ securely.
According to Amazon’s website, “Amazon Sidewalk is a shared network, coming later this year, that helps devices like Amazon Echo devices, Ring Security Cams, outdoor lights, and motion sensors work better at home and beyond the front door. When enabled, Sidewalk can unlock unique benefits for your device, support other Sidewalk devices in your community, and even open the door to new innovations like locating items connected to Sidewalk.”
Analysts anticipate that Semtech’s partnership with Amazon will net the business $100 million in revenues annually within the next 5 years (nearly 1/5th of the business’s current yearly sales) as the Amazon Sidewalk technology gains traction. This deal gives Semtech’s LoRa technology the big tech seal of approval, and I am sure that its cutting-edge chips and expertise will be in strong demand in the coming years.
According to HIS Markit, the ‘smart home’ market is proliferating and is expected to reach $192 billion by 2023. This would represent an over 35% compounded annual growth rate. Semtech’s LoRa technology is poised to ride this rocket ship through the Roaring 20s.
LoRa is estimated to drive 40% annual growth over the next 5 years and stimulate $500 million in reoccurring revenue. This technology, combined with its smartphone and datacenter chips, will launch this ‘under the radar’ stock to the moon over the next decade.
Final Thoughts
Yesterday’s broader market pullback may have provided us with the perfect entry point to ride this stock up to $88 per share, which is my next price target once we get past the $73.50 level (which could cause some resistance). 8 out of 10 analysts are currently calling this stock a buy today with no sell ratings.
The New Normal is one driven by connectivity, and Semtech’s LoRa technology for IoT has been provided with a sizable boon amid the devastative pandemic.
There has been a big rotation from tech into the cyclical underperformers over the past couple of months. With the presidential election in the rearview mirror, and vaccine announcements providing investors with a much clearer end to this pandemic tunnel, optimism surges into 'recovery' stocks. Some of 2020's dogs have been lifted to inequitable levels in which I would not want to be left holding the bag.
Royal Caribbean Cruises, the world's second-largest cruise line behind Carnival, is one such stock that has surged past its intrinsic value in recent months. At the same time, analysts continue to lower its long-term EPS estimates. RCL has been pushed down to a Zacks Rank #5 (Strong Sell), yet investors keep buying in the hopes of a robust economic recovery taking this business back to normality.
RCL has driven up 55% since the end of October, over 25% above its average price target. It is time to consider pulling profits from this frothy cruise line stock.
The Pandemic & Tabooed Cruises
The pandemic has tabooed cruises. Being in close quarters with thousands of strangers with no way to escape sounds like a literal nightmare amid this pandemic, and I think cruise lines will be hard-pressed to shift this narrative even in the post-COVID world.
The story about Carnival's Diamond Princess that was supposed to be a 14-day luxury cruise around the islands of Japan and southern China, ended up being a month-long trip from hell. A passenger tested positive for the novel coronavirus 3 days before the ship was scheduled to dock. The 2,666 passengers were quarantined in their small cabins for the remainder of the extended voyage, while the number of confirmed cases racked up. There were over 700 confirmed cases by the time the cruise finally got all the passengers off one month after it took-off.
This was not the only cruise that experienced the virus's rapid spread in close quarters. This news has tabooed the cruise line industry and left it with a deep scar that will not quickly fade. These cruises will miss out on their peak season this year, and many consumers will be apprehensive about getting on a cruise ship for years to come. Being in close quarters with many people you don't know is the epitome of what we are being conditioned to avoid.
Financials
This leisure driven business has already lost more in the last two quarters than it had made in its entire 2019 fiscal year, and the pain is far from over. Analysts are expecting similar misery in 2021, and maybe if Royal Caribbean can flip its tabooed narrative, the business may once again turn a profit in 2022. That is if the cruise line will have enough liquidity to get through the rough waters in the coming quarters.
Royal Caribbean was forced to lay off over 25% of its workforce out of the gates in April and raised $3.3 billion in debt with an interest rate that reflected a very distressed company. Unfortunately, I don't think this will be enough to support the $1 billion+ losses it is incurring quarterly.
The company is now in the process of raising $1 billion in capital through what is known as an at-the-market (ATM) offering. This will allow RCL to sell newly issued shares over any period of time they deem necessary. This ATM will dilute any shares currently held, and if they unload these new issues quickly, it could be devastating for the share price.
The company is holding a total debt-to-capital ratio at around 69%, which I suspect will continue to increase in the coming quarters.
Final Thoughts
RCL has had a good run from its COVID bottom on March 18th, driving returns of 330%, but I think now is the time to pull some profits.
Additional content:
3 China EV Stocks to Brighten Your Christmas Tree
Demand for new energy vehicles (NEVs) has been on the rise in China amid climate change concerns and favorable government policies. Importantly, the country projects electric vehicles (EVs) to account for 25% of new car sales by 2025. China’s big push toward green vehicle adoption and EV supply chain dominance bode well. Banking on the EV euphoria in China, we would highlight three stocks that offer huge upside potential. However, before that, let’s take a look at the encouraging EV sales report in China for the month of November.
Thanks to the strong sales report, popular China EV stocks gained momentum after suffering a temporary halt last week on the news of a government probe into the EV sector. Pure EV plays based in China including NIO, Li Auto and Xpeng moved up 3.21%, 2.41%, 5.78%, and 0.81% yesterday, respectively.
EV Sales in China on a Roll, Prospects Bright
According to China Passenger Car Association (“CPCA”) data, wholesale sales of NEVs surged 128% year over year to 169,000 units in November, which marked the fifth consecutive month of gain. Per CPCA, sales of Tesla’s Model 3 in China for the month of November totaled 21,604 units, depicting a massive year-over-year and month-on-month rise. Model 3 was the #2 best-selling EV in China, beaten by GM's Hong Guang Mini EV, which was launched in July under the company’s Wuling brand. Hong Guang notched up 36,070 units in sales last month.
NIO delivered 5,291 vehicles last month, depicting a 109.3% year-over-year rise. Li Auto sold 4,646 Li ONEs in November, depicting around 25% rise from October. The company hit a new record in November, with production of more than 5,000 units and even higher number of new orders. Xpeng’s deliveries for November skyrocketed 342% year over year to 4,224 units.
Industry watchers have been quite optimistic about China’s progress in the transition toward EV future. In April, the government of China announced plans to extend subsidies and tax breaks for NEVs such as electric or plug-in hybrid cars for another two years to spur sales. Buoyed by favorable government policies along with improving consumer confidence and economy, the rebound in green vehicle demand and sales is expected to continue.
Our Choices
As the Christmas tree’s decoration with lights and bells symbolizes goodwill and love, let's build a similar tree for stock-loving investors who want to cash in on the green revolution with China-based EV stocks. All the below-mentioned stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
If you already own the stocks, don’t cash out of them now. Retain them in your portfolio to rake in big profits. For those who have missed out on the crazy gains of these stocks, keep a watch and add them to your portfolio at a better entry point.
NIO: Tesla’s prominent China-based rival NIO — which went public on the NYSE in September 2018 — has had an amazing run on the bourses of late, gaining 1,058.3% year to date. NIO’s ES6, ES8 and EC6 models are fueling prospects. Government support, BAAS (Battery-as-a-Service) offering and strategic partnership with Mobileye are expected to be key growth drivers.
NIO expects fourth-quarter deliveries in the band of 16,500-17,000 vehicles, signaling an uptick of 103% at the mid-point of the guided range. Revenues are forecast between $921.8 million and $947.9 million, indicating a rise of 103% from the corresponding quarter of 2019. The Zacks Consensus Estimate for 2021 sales and earnings signals a year-over-year uptick of 93.9% and 32.8%, respectively.
Li Auto: Li Auto — which debuted on Nasdaq on Jul 30, is the second China-based EV maker to be listed on the U.S. stock market after NIO. Since then, the stock has surged 108.2%. Volume production of the firm’s sole offering, Li ONE, began in November 2019.
The firm is targeting to expand the product line by manufacturing new vehicles in a bid to cater to a broader customer base. As of Nov 30, Li Auto had 45 retail stores across 38 cities and 97 servicing centers across 72 cities. To meet the burgeoning demand of green vehicles in China, Li Auto remains focused on bolstering direct sales and servicing networks.
For fourth-quarter 2020, the firm expects sequential growth of 32.8% and 29.5% in deliveries and revenues from the mid-point of the respective guided range. The Zacks Consensus Estimate for 2021 earnings and sales calls for year-over-year growth of 93.3% and 95.4%, respectively.
Xpeng: Xpeng, backed by e-commerce giant Alibaba, made its debut on the U.S. stock market on Aug 27. Since then, the stock has rallied 129.5%. Xpeng sells two EV models: the G3 SUV, launched in 2018, and P7 sedan, which debuted earlier this year. The company delivered 8,578 EVs in the third quarter, marking a 266% year-over-year jump. The deliveries comprised 6,210 P7s and 2,368 G3s. Xpeng’s new Smart EV manufacturing base in Guangzhou will significantly bolster the company’s production capability.
XPeng anticipates fourth-quarter 2020 deliveries of vehicles to be 10,000 units, suggesting a year-over-year surge of 210.8%. Projected total revenues indicate a year-on-year increase of a whopping 243.7%. The Zacks Consensus Estimate for 2021 sales and earnings signals a year-over-year uptick of 99.4% and 93.3%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Semtech, Royal Caribbean, NIO, Li Auto and XPeng highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – December 10, 2020 – Zacks Equity Research Shares of Semtech Corporation (SMTC - Free Report) as the Bull of the Day, Royal Caribbean Group (RCL - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on NIO Limited (NIO - Free Report) , Li Auto Inc. (LI - Free Report) and XPeng Inc. (XPEV - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
The pandemic has connected everyone and everything through digital technology. 2020 has been the most digitizing year to date, with society forced to rely on technology for everything from work & entertainment to grocery shopping. The economy depends on connectivity and the Internet of Things (IoT) to function efficiently in the New Normal. It’s time to start adding chip makers at the forefront of IoT innovation into your portfolio.
Semtech is a leading global supplier of signal semiconductors as well as a provider of cutting-edge infrastructure algorithms for high-end consumer and industrial equipment. This business has remained somewhat under investors’ radar since the dot-com bubble, but that is coming to an end with its recent big tech deals.
The company’s LoRa devices and wireless radio frequencies have been the business’s primary growth driver in 2020 and are the catalyzer for Zacks buy rating today. Semtech’s LoRa recently won the validation of tech giants like Cisco and Amazon, which is expected to drive significant growth in the coming years.
SMTC has been driving innovative growth since the 1960s when it was incepted. 2020 was the first year that these shares have materially exceeded its dot-com bubble high of $60 a share. This stock has a lot more room to run as the 4th Industrial Revolution commences, and the need for connectivity continues to surge.
Analysts have gotten increasingly optimistic about the growth trajectory after its announced team up with Amazon and have pushed up their long-term EPS estimates, driving SMTC into a Zacks Rank #1 (Strong Buy).
LoRa & The Amazon Effect
Amazon is slowly but surely taking over the tech world with its hand seemingly in every technology of the future. Its IoT investment is one that the company hopes will benefit from the increasingly digital & connected economy we live in and will drive substantial growth in the Roaring 20s.
Where Semtech comes in is with the Amazon Sidewalk, with its long-range and low-energy technology, aka LoRa powered devices, which is perfect for the IoT appliances that Amazon is employing. This technology is meant to make society ‘smarter’ securely.
According to Amazon’s website, “Amazon Sidewalk is a shared network, coming later this year, that helps devices like Amazon Echo devices, Ring Security Cams, outdoor lights, and motion sensors work better at home and beyond the front door. When enabled, Sidewalk can unlock unique benefits for your device, support other Sidewalk devices in your community, and even open the door to new innovations like locating items connected to Sidewalk.”
Analysts anticipate that Semtech’s partnership with Amazon will net the business $100 million in revenues annually within the next 5 years (nearly 1/5th of the business’s current yearly sales) as the Amazon Sidewalk technology gains traction. This deal gives Semtech’s LoRa technology the big tech seal of approval, and I am sure that its cutting-edge chips and expertise will be in strong demand in the coming years.
According to HIS Markit, the ‘smart home’ market is proliferating and is expected to reach $192 billion by 2023. This would represent an over 35% compounded annual growth rate. Semtech’s LoRa technology is poised to ride this rocket ship through the Roaring 20s.
LoRa is estimated to drive 40% annual growth over the next 5 years and stimulate $500 million in reoccurring revenue. This technology, combined with its smartphone and datacenter chips, will launch this ‘under the radar’ stock to the moon over the next decade.
Final Thoughts
Yesterday’s broader market pullback may have provided us with the perfect entry point to ride this stock up to $88 per share, which is my next price target once we get past the $73.50 level (which could cause some resistance). 8 out of 10 analysts are currently calling this stock a buy today with no sell ratings.
The New Normal is one driven by connectivity, and Semtech’s LoRa technology for IoT has been provided with a sizable boon amid the devastative pandemic.
Bear of the Day:
There has been a big rotation from tech into the cyclical underperformers over the past couple of months. With the presidential election in the rearview mirror, and vaccine announcements providing investors with a much clearer end to this pandemic tunnel, optimism surges into 'recovery' stocks. Some of 2020's dogs have been lifted to inequitable levels in which I would not want to be left holding the bag.
Royal Caribbean Cruises, the world's second-largest cruise line behind Carnival, is one such stock that has surged past its intrinsic value in recent months. At the same time, analysts continue to lower its long-term EPS estimates. RCL has been pushed down to a Zacks Rank #5 (Strong Sell), yet investors keep buying in the hopes of a robust economic recovery taking this business back to normality.
RCL has driven up 55% since the end of October, over 25% above its average price target. It is time to consider pulling profits from this frothy cruise line stock.
The Pandemic & Tabooed Cruises
The pandemic has tabooed cruises. Being in close quarters with thousands of strangers with no way to escape sounds like a literal nightmare amid this pandemic, and I think cruise lines will be hard-pressed to shift this narrative even in the post-COVID world.
The story about Carnival's Diamond Princess that was supposed to be a 14-day luxury cruise around the islands of Japan and southern China, ended up being a month-long trip from hell. A passenger tested positive for the novel coronavirus 3 days before the ship was scheduled to dock. The 2,666 passengers were quarantined in their small cabins for the remainder of the extended voyage, while the number of confirmed cases racked up. There were over 700 confirmed cases by the time the cruise finally got all the passengers off one month after it took-off.
This was not the only cruise that experienced the virus's rapid spread in close quarters. This news has tabooed the cruise line industry and left it with a deep scar that will not quickly fade. These cruises will miss out on their peak season this year, and many consumers will be apprehensive about getting on a cruise ship for years to come. Being in close quarters with many people you don't know is the epitome of what we are being conditioned to avoid.
Financials
This leisure driven business has already lost more in the last two quarters than it had made in its entire 2019 fiscal year, and the pain is far from over. Analysts are expecting similar misery in 2021, and maybe if Royal Caribbean can flip its tabooed narrative, the business may once again turn a profit in 2022. That is if the cruise line will have enough liquidity to get through the rough waters in the coming quarters.
Royal Caribbean was forced to lay off over 25% of its workforce out of the gates in April and raised $3.3 billion in debt with an interest rate that reflected a very distressed company. Unfortunately, I don't think this will be enough to support the $1 billion+ losses it is incurring quarterly.
The company is now in the process of raising $1 billion in capital through what is known as an at-the-market (ATM) offering. This will allow RCL to sell newly issued shares over any period of time they deem necessary. This ATM will dilute any shares currently held, and if they unload these new issues quickly, it could be devastating for the share price.
The company is holding a total debt-to-capital ratio at around 69%, which I suspect will continue to increase in the coming quarters.
Final Thoughts
RCL has had a good run from its COVID bottom on March 18th, driving returns of 330%, but I think now is the time to pull some profits.
Additional content:
3 China EV Stocks to Brighten Your Christmas Tree
Demand for new energy vehicles (NEVs) has been on the rise in China amid climate change concerns and favorable government policies. Importantly, the country projects electric vehicles (EVs) to account for 25% of new car sales by 2025. China’s big push toward green vehicle adoption and EV supply chain dominance bode well. Banking on the EV euphoria in China, we would highlight three stocks that offer huge upside potential. However, before that, let’s take a look at the encouraging EV sales report in China for the month of November.
Thanks to the strong sales report, popular China EV stocks gained momentum after suffering a temporary halt last week on the news of a government probe into the EV sector. Pure EV plays based in China including NIO, Li Auto and Xpeng moved up 3.21%, 2.41%, 5.78%, and 0.81% yesterday, respectively.
EV Sales in China on a Roll, Prospects Bright
According to China Passenger Car Association (“CPCA”) data, wholesale sales of NEVs surged 128% year over year to 169,000 units in November, which marked the fifth consecutive month of gain. Per CPCA, sales of Tesla’s Model 3 in China for the month of November totaled 21,604 units, depicting a massive year-over-year and month-on-month rise. Model 3 was the #2 best-selling EV in China, beaten by GM's Hong Guang Mini EV, which was launched in July under the company’s Wuling brand. Hong Guang notched up 36,070 units in sales last month.
NIO delivered 5,291 vehicles last month, depicting a 109.3% year-over-year rise. Li Auto sold 4,646 Li ONEs in November, depicting around 25% rise from October. The company hit a new record in November, with production of more than 5,000 units and even higher number of new orders. Xpeng’s deliveries for November skyrocketed 342% year over year to 4,224 units.
Industry watchers have been quite optimistic about China’s progress in the transition toward EV future. In April, the government of China announced plans to extend subsidies and tax breaks for NEVs such as electric or plug-in hybrid cars for another two years to spur sales. Buoyed by favorable government policies along with improving consumer confidence and economy, the rebound in green vehicle demand and sales is expected to continue.
Our Choices
As the Christmas tree’s decoration with lights and bells symbolizes goodwill and love, let's build a similar tree for stock-loving investors who want to cash in on the green revolution with China-based EV stocks. All the below-mentioned stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
If you already own the stocks, don’t cash out of them now. Retain them in your portfolio to rake in big profits. For those who have missed out on the crazy gains of these stocks, keep a watch and add them to your portfolio at a better entry point.
NIO: Tesla’s prominent China-based rival NIO — which went public on the NYSE in September 2018 — has had an amazing run on the bourses of late, gaining 1,058.3% year to date. NIO’s ES6, ES8 and EC6 models are fueling prospects. Government support, BAAS (Battery-as-a-Service) offering and strategic partnership with Mobileye are expected to be key growth drivers.
NIO expects fourth-quarter deliveries in the band of 16,500-17,000 vehicles, signaling an uptick of 103% at the mid-point of the guided range. Revenues are forecast between $921.8 million and $947.9 million, indicating a rise of 103% from the corresponding quarter of 2019. The Zacks Consensus Estimate for 2021 sales and earnings signals a year-over-year uptick of 93.9% and 32.8%, respectively.
Li Auto: Li Auto — which debuted on Nasdaq on Jul 30, is the second China-based EV maker to be listed on the U.S. stock market after NIO. Since then, the stock has surged 108.2%. Volume production of the firm’s sole offering, Li ONE, began in November 2019.
The firm is targeting to expand the product line by manufacturing new vehicles in a bid to cater to a broader customer base. As of Nov 30, Li Auto had 45 retail stores across 38 cities and 97 servicing centers across 72 cities. To meet the burgeoning demand of green vehicles in China, Li Auto remains focused on bolstering direct sales and servicing networks.
For fourth-quarter 2020, the firm expects sequential growth of 32.8% and 29.5% in deliveries and revenues from the mid-point of the respective guided range. The Zacks Consensus Estimate for 2021 earnings and sales calls for year-over-year growth of 93.3% and 95.4%, respectively.
Xpeng: Xpeng, backed by e-commerce giant Alibaba, made its debut on the U.S. stock market on Aug 27. Since then, the stock has rallied 129.5%. Xpeng sells two EV models: the G3 SUV, launched in 2018, and P7 sedan, which debuted earlier this year. The company delivered 8,578 EVs in the third quarter, marking a 266% year-over-year jump. The deliveries comprised 6,210 P7s and 2,368 G3s. Xpeng’s new Smart EV manufacturing base in Guangzhou will significantly bolster the company’s production capability.
XPeng anticipates fourth-quarter 2020 deliveries of vehicles to be 10,000 units, suggesting a year-over-year surge of 210.8%. Projected total revenues indicate a year-on-year increase of a whopping 243.7%. The Zacks Consensus Estimate for 2021 sales and earnings signals a year-over-year uptick of 99.4% and 93.3%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.