After reaching the lows of the year, U.S. stocks appear to have consolidated in the past two weeks, setting up the market for a potential rally, market watchers predict.
"We are still at levels that you'd want to consider buying," Greywolf Execution Partners chief technical analyst Mark Newton told CNBC Pro Monday, highlighting the likelihood of a year-end rally. (Read the story here )
Given the bullish seasonality associated with the fourth quarter and the fact that some of the uncertainty related to equities may already be priced in, investors such as Newton believe it may be time to step in and buy stocks.
Consider Apple (AAPL), for example, which has seen its shares drop 18 percent from its intraday all-time high reached in April. Despite the pullback, Wall Street analysts have an overweight rating on the stock with a price target of $146, implying a 32 percent gain from here.
Below is a look at other mega caps with upside potential, based on analysts' bottoms-up projections.