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CNBC’s Bob Pisani has a sector sort of the 2010s. With CNBC’s Brian Sullivan and the Fast Money traders, Tim Seymour, Gina Sanchez, Victoria Fernandez and Dan Nathan.
It was a big year for stocks, but 2020 is poised to be even better for some companies, according to Wall Street analysts.
Many well-known stocks — and some not so well known — have been named as top picks in the new year.
CNBC looked at the most recent Wall Street research to find stocks that analysts like most for 2020. Stocks include The Trade Desk, Apple, Nike, AT&T, Coca-Cola, and Zynga.
This week, Wells Fargo named Nvidia as its top semiconductor stock for 2020. The firm said it liked the upwards trajectory of the company’s three main businesses, which include gaming, automotive and especially data centers.
“We see NVIDIA representing the most significant investor sentiment upside driven by our expectation of a meaningful reacceleration in data center growth through 2020,” analyst Aaron Rakers said.
The key to the data center opportunity is the company’s growing emphasis on artificial intelligence.
Nvidia is a “conversational AI driven story with increasing confidence in data center growth visibility,” he said.
The stock is up almost 80% year-to-date.
Another stock to watch in 2020 is The Trade Desk, according to Needham analyst Laura Martin.
The company’s specialty is its self-service platform, which helps ad buyers manage data-driven digital advertising campaigns.
But Needham says it believes with the election season heating up, the company may have a unique opportunity. That’s because growing regulatory scrutiny may occupy several other big internet giants, the firm said.
“We expect senior executives at FB, GOOGL and AMZN to be distracted by regulatory and legislative pressures in 2020, which might slow ad spending growth inside these Walled Gardens and accelerate ad revenue growth in the ‘open internet’ where TTD is the largest player,” Martin said.
“TTD is our top stock pick for 2020,” the analyst said.
The company is up 135% for the year.
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