Here's Exactly How AbbVie Stock Can Beat the Market In 2023
AbbVie (NYSE: ABBV) stated this week that its earnings could potentially plunge more than 20% this year. The culprit is no secret: The company's top-selling drug, Humira, now faces biosimilar competition in the U.S.
With this forecast, you might think that AbbVie is destined to perform poorly for a while. However, that isn't a foregone conclusion. Here's exactly how AbbVie stock can beat the market in 2023.
The single most important thing AbbVie needs to do to outperform major market indexes is to win the expectations game. Everyone who follows AbbVie knows that the company's revenue and earnings will decline significantly this year. Those assumptions are baked into the stock's price. But if AbbVie can exceed expectations -- even bleak ones -- its shares will almost certainly rise.
Source Fool.com
