SBUX - Why Starbucks Is 1 of the Best Stocks to Hold in 2023
Over the last five years, share prices of Starbucks (NASDAQ: SBUX) have nearly doubled and significantly outperformed the S&P 500 index. Still, there's good reason to expect another similar run of returns over the next five years.
Investors didn't like the company's sluggish sales in the last quarter, which led to a small sell-off. Revenue came in below expectations due to weakness in China, but one segment continues to show impressive growth that should keep the stock outperforming in 2023 and beyond.
The best barometer of Starbucks' brand is the growth in the channel development segment. This segment only makes up 5% of total revenue, but it includes the branded products that Starbucks offers with Nestlé (OTC: NSRGY) (OTC: NSRG.F) and other partners at retail locations outside of its company-operated and licensed stores.
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Why Starbucks Is 1 of the Best Stocks to Hold in 2023