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VIP Wealth Hub
Customized wealth management empowers your assets growth
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Customized asset management to grow your digital assets
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Top asset management team helps you profit without hassle
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SPY's 2023 Run: Still Room to Run?
The S&P 500 ETF (SPY) cooled off slightly last week, down 0.08% in 5 days, but that's just noise compared to its monster 25.74% YTD rally. Wall Street sees more upside—consensus price target sits at $513.34, suggesting another 8.4% gain from here.
The bullish camp is banking on names like NVDA, HAL, and UAL leading the charge. The bearish take? Watch out for RHI, EXPD, and BEN, which analysts reckon have more downside risk.
TipRanks' ETF Smart Score pegs SPY at 8/10—basically saying this fund is likely to keep outpacing the market. Moderate Buy rating locked in.
Bottom line: SPY's had a hell of a year. Whether it keeps the momentum into 2024 depends on whether Big Tech can sustain the hype.