With the stock market regularly rallying to new all-time highs, traders and investors are all but certain that some stocks are overpriced and doomed to fall.
In his new U.S. Monthly Chartbook, Goldman Sachs' David Kostin compiled a list of 40 stocks that are trading well above Goldman analysts' price targets.
Most of these stocks fall under the technology category.
Of these stocks, 11 would have to tumble by more than 20% to get back to Goldman's estimate of fair value.
11) Advanced Micro Devices: 20.2% Downside
Ticker: AMD
Sector: Computer chips
Recent Price: $2.82
Downside to Target: 20.2%
AMD is now ceding the entire PC market to Intel.
Source: Goldman Sachs, Bloomberg
10) Seagate Technology: 21.0% Downside
Ticker: STX
Sector: Hard drives
Recent Price: $36.70
Downside to Target: 21.0%
Seagate's market share degradation, margin pressure and stock price declines were recently noted by Needham and Co.
Source: Goldman Sachs, Barron's
9) HP: 22.3% Downside
Ticker: HPX
Sector: Computer and office supplies
Recent Price: $20.60
Downside to Target: 22.3%
HP was recently the subject of a column entitled "Will Hewlett-Packard survive its missteps?" in the San Jose Mercury News.
Source: Goldman Sachs, SJMN
See the rest of the story at Business Insider
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