Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for the past decade-plus, the performance record has favored growth. But in 2022, The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks that year. While growth stocks have retaken the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could possibly cap multiple expansion for growth companies in coming quarters. In any event, the value sector is the place to achieve income.

Gilead Sciences is a biopharmaceutical company that researches, develops, and sells therapies for treating HIV, hepatitis B, hepatitis C, and certain cancers. In October 2020, Gilead's Veklury (remdesivir) became the first approved treatment for COVID-19 in the U.S. Founded in 1987, the company is located in Foster City, California. It has operations in more than 35 countries and approximately 18,000 employees.

Stocks are up. Fed Chairman Powell injected some rocket fuel into the market by saying, 'the time has come' to start cutting interest rates. The S&P 500 rose 1%, while the Dow gained 0.9% and the tech-heavy Nasdaq Composite was up 1.1%. The Russell 2000 added 3.3%. Both crude oil and gold were also up.

Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of newer combination regimens that remain standards of care. Gilead is also growing its presence in the oncology market via acquisitions, led by CAR-T cell therapy Yescarta/Tecartus (from Kite) and breast and bladder cancer therapy Trodelvy (from Immunomedics).