2 Healthcare Stocks That Are Better Value Buys Than Apple
The past eight months have been a roller-coaster ride for investors. Between the rapid spread of COVID-19, the stay-at-home orders imposed by many governments in an effort to "flatten the curve" of infection, and the ensuing economic consequences of the pandemic, the stock market has been choppy, to say the least.
That said, one sector that seems to be doing better than most -- even given recent pullbacks -- is technology. The tech-heavy Nasdaq Composite is up by 26.1% year to date, compared with gains of 6.1% for the S&P 500; meanwhile, the Dow Jones is down by 1.6% over the same period.
Tech titan Apple (NASDAQ: AAPL) has been riding this wave, and shares of the iPhone maker are up by 54% since the year started. However, with a market cap (the total value of a company's outstanding shares) of $2.1 trillion and a forward price-to-earnings (P/E) ratio of 34, Apple's valuation seems a bit rich. For those looking for better value propositions, here are two stocks that are worth buying: Bristol Myers Squibb (NYSE: BMY) and Gilead Sciences (NASDAQ: GILD). Let's see why both of these healthcare giants are strong stock picks.
Source Fool.com
