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Why cheap stocks like Micron could post surprising results

A Western Digital office building is shown in Irvine, California, U.S., January 24, 2017.

Mike Blake | Reuters

The broad market rally over the past year has now lifted stocks in nearly every sector, and it might be time for investors to focus on finding individual winners to keep growing their portfolios, according to Goldman Sachs.

The firm’s research analysts said in a note on Wednesday that value investors should, in the current environment, take a closer look at companies’ individual financial results to find some gems.

“While the backdrop of higher rates, higher inflation breakevens and a steeper yield curve has been supportive, given the run since mid-February and the temporary nature of Value rallies in recent years we expect that fundamentals may play an important role in the sustainability of a further move higher,” the note said.