Oppenheimer recommends Costco and AppLovin stock picks

Oppenheimer has released a list of stock picks that it believes will do well in the upcoming year. The firm's analysts selected these stocks based on their strong fundamentals and current market trends. Recently, the stock market has faced challenges due to trade tensions, recession fears, and a decline in technology shares. Last week, the S&P 500 gained 0.4%, breaking a four-week decline. The Nasdaq Composite rose 0.2%, also ending a slump, while the Dow Jones Industrial Average increased by 1.1% after two weeks of losses. Despite the overall market conditions, Oppenheimer remains optimistic about certain stocks. Costco is one of Oppenheimer's top picks. Even though its stock has fallen 13.3% this month due to disappointing earnings, the firm sees a 24% potential upside from its current price. Analyst Rupesh Parikh praised Costco's strong management and growth prospects. Shake Shack is another favorite, even after a 17% drop this month. Oppenheimer believes the burger chain will see earnings and same-store sales growth. Analysts Mike Tamas and Brian Bittner pointed out the positive impact of new management strategies. The firm also recommends AppLovin, a mobile app company whose stock has risen significantly over the year but recently dropped 24.4%. Analyst Martin Yang sees this decline as a buying opportunity, noting the company's market growth potential. Other recommended stocks include Life Time Group, Visa, and Monolithic Power Systems. Oppenheimer believes Monolithic is well-positioned to outperform its competition due to its improving margins and strong growth outlook.