10 Best Blue-Chip Stocks to Buy for 2023

And to close out the last weekend of March, here are some more recommendations for the best of blue chip investments.  

MARCH 22, 2023 Invested Advice, rankings and stock market news for investors.

Good morning, investors. Stocks rally for the second straight day this week after soothing commentary from Janet Yellen. Highlights of today's newsletter include our market insights plus these new articles: 10 Best Blue-Chip Stocks to Buy for 2023 7 Stocks That Outperform in a Recession 5 Ways to Prepare Your Portfolio for Black Swan Events Advisor's Corner: Why Bond Duration Matters for Investors TODAY'S FEATURED STORY 10 Best Blue-Chip Stocks to Buy for 2023 Blue-chip stocks are those with top-notch reputations. They're the companies known for being high quality, faring well during recessions and having the brands, managerial excellence and resiliency to prosper through all economic conditions. These 10 blue-chip stocks should serve as solid defensive holdings with significant upside potential once market sentiment recovers: Walmart Inc. (ticker: WMT). Walmart remains the country's dominant brick-and-mortar retailer. The company's e-commerce business is also a growing portion of its revenue. On top of that, Walmart has an extensive international arm, with operations in two dozen countries and more than 10,000 stores. For many years, investors felt that Amazon.com Inc. (AMZN) had left Walmart in the dust, but Amazon has stumbled in recent years, and its profitability metrics have sagged. Amazon's acquisition of Whole Foods failed to dent Walmart's hold in the vital grocery market. It seems omni-channel retail will be an increasingly valuable offering, and Walmart's brick-and-mortar operations remain far ahead of Amazon. With the economy potentially heading into a fairly steep recession over the next year, Walmart may also benefit as shoppers "trade down" from more expensive stores. With the recent drop, shares are now selling for a reasonable 23 times forward earnings. Chevron Corp. (CVX). The oil and gas industry enjoyed a strong recovery over the past two years as inflation and geopolitical risks highlighted the value of oil and gas assets. Currently, oil is in a slide driven by fears around the global economy and potential contagion in the banking sector. However, it seems likely that if economic conditions worsen, the world's central banks would have to inject liquidity into the economy. That would likely lead to higher inflation and commodity prices once again. All this is to say that the current oil and gas bull market is likely to persist despite near-term volatility. Plus, Chevron is well positioned for the future with its substantial investments in liquefied natural gas, or LNG, which have proven invaluable in providing electricity to Europe as normal gas sources from Russia have become challenged. Chevron is a true blue-chip stock and offers fair value at 10 times forward earnings and a 4% dividend yield currently. Click here to continue reading.