The artificial intelligence rally this year, led by the so-called Magnificent 7, has been awesome if you owned those stocks. However, most of the S&P 500 has been treading water, and they are unlikely to catch up to the hype-driven AI stocks any time soon. With the looming storm clouds on the horizon and the potential for as many as two more interest rate increases, many Wall Street strategists feel we will be fortunate to have high single-digit gains for the balance of 2023, and we could very well have a 20% or bigger sell-off added to the mix at some juncture.
We screened the Goldman Sachs Conviction List of top stock picks looking for dividend-paying blue chips that worried investors can look at now. Six top companies hit our screens, all of which are of course rated Buy.
This post originally appeared on 24/7 Wall St.