Citi reveals top IT hardware stock picks for 2023

Citi analyst Jim Suva announced his top 2023 stock picks for the IT hardware space, preferring companies with "large and unique" backlogs over those with consumer electronics exposure. This is on the view that 2023 will see a slowdown and possible recession, with higher costs for consumers, resulting in less disposable income, Suva tells investors in a research note. The analyst’s top stock picks for 2023 in the IT hardware sector are CDW (CDW), Jabil (Jabil), TD Synnex (SNX), Amphenol (APH) and Flex (FLEX). Suva’s Sell-rated stocks are GoPro (GPRO), HP Enterprise (HPE) and Xerox (XRX).