Tuesday, July 25, 2023
3 Growth Stocks to Buy to Turn $10,000 Into $1 Million" BY JOEL BAGLOLE ( INVESTOR PLACE, NASDAQ), 25 JULY
These companies continue to grow at a brisk clip and reward their shareholders along the way
Investors might want to add these three growth stocks to turn $10,000 into $1 million.
- Apple (AAPL): The latest catalyst for the tech giant comes with news that it is developing its own generative AI.
- Advanced Micro Devices (AMD): The semiconductor company is benefitting from rising demand for its products.
- Chipotle (CMG): Thirty years after its founding, the quick service restaurant chain remains in growth mode.
- From tech to restaurant stocks, these heavyweights remain a sure thing to increase your financial goals.
The current bull market is ablaze with money to be made right now.
After a brutal decline in 2022, stocks have come roaring back in the last eight months, led by a resurgence in technology stocks. In 2023, the Nasdaq is already up an incredible 40%, while the benchmark S&P 500 has gained 20%. The bulls are firmly in control once again.
Yet even with this year’s strong run, many stocks remain below their all-time highs.
They’re only just beginning to recover from the terrible declines suffered last year as the U.S. Federal Reserve steadily raised interest rates to lower inflation. Also, this year’s rally has been concentrated in a handful of tech stocks.
Many well-known and excellent companies have stocks that remain undervalued. It’s not too late for investors to grab shares and ride them to long-term wealth. Here are three growth stocks to buy to turn $10,000 into $1 million.
Apple (AAPL)
Apple’s (NASDAQ:AAPL) stock has a lot of momentum pushing it forward. The consumer electronics giant’s share price is currently sitting at an all-time high on a split-adjusted basis of just under $200.
And Apple is currently the only publicly traded company with a $3 trillion market capitalization, making it the most valuable concern in the world. The company is riding high on a number of catalysts, including continued strong demand for its signature iPhone, as well as the launch of a new augmented reality headset.
Now word comes that Apple is developing its own version of artificial intelligence sensation ChatGPT. According to multiple media reports, Apple is hard at work creating its own AI large language model internally. AAPL engineers refer to the AI project as “machine learning,” a concept which originated in the 1940s but debuted in the 1950s. It was the originator of AI.
Apple tech experts engineers already have a prototype chatbot that employees refer to as “Apple GPT.” The company plans to integrate the technology into future products and devices. AAPL stock is up 56% this year with no signs of slowing down.
Advanced Micro Devices (AMD)
If there’s one segment of the tech sector that is red hot right now, it is semiconductors. Advanced Micro Devices (NASDAQ:AMD) is gaining ground in the space.
Fueled by the hype surrounding AI, the share price of AMD has increased 82% this year. In the last five years, AMD stock has gained 605%, making it one of the best performing tech stocks around. Yet even with the mammoth run, AMD shares look like they can keep rising.
With demand for microchips and semiconductors expected to grow exponentially in coming years, the possibilities are endless for AMD stock. In June of this year, AMD introduced its generative AI chip called the “MI300X.” The company claims that the chip is the most advanced accelerator for generative AI applications.
Plans are in the works for it to power Microsoft’s (NASDAQ:MSFT) Azure virtual machines. AMD chips also power most video game consoles, including the latest versions of the Xbox and PlayStation. Additionally, AMD continues to take market share away from rival chipmaker Intel (NASDAQ:INTC) in the data center market.
Chipotle (CMG)
Not all of the growth is in tech. What about Chipotle (NYSE:CMG)? The popular Mexican quick service restaurant chain has seen its stock takeoff like a tech security this year. Since January, CMG stock has risen 56%, bringing its five year gains to 376%.
Thirty years after it was founded, Chipotle remains in full growth mode, recently announcing plans to expand to the Middle East for the first time. Chipotle currently has 3,200 outlets in the U.S. with just over 50 locations in Canada and Europe. Plenty of room is out there for further international expansion.
Robust earnings have helped make CMG stock a constant outperformer
and one of the top restaurant stocks to own. For this year’s Q1,
Chipotle reported that its same-store sales rose 11%, even as
its menu prices rose an average of 10% from a year earlier.
This suggests that consumers can’t get enough of Chipotle,
remaining loyal even when prices rise, due to impacts of inflation.
CMG stock continues to be a high-growth investment.
On the date of publication, Joel Baglole held long positions
in AAPL and MSFT. The opinions expressed in this article are those
of the writer, subject to the InvestorPlace.com Publishing Guidelines
"3 Defensive Stocks to Shield Your Portfolio from this Market Volatility" BY Joel Baglole FROM INVESTOR PLACE, NASDAQ, 25 JULY
3 Defensive Stocks to Shield Your Portfolio from this Market Volatility
These companies share a solid, long-term track record, with high performance in any type of market
- Build a fortress with three defensive stocks to shield your portfolio from market volatility.
- JPMorgan Chase (NYSE:JPM): The world’s biggest bank just reported blowout earnings.
- PepsiCo (NYSE:PEP): The soft drink and food company is largely insulated against market downturns.
- Apple (NASDAQ:AAPL): The consumer electronics giant remains the most reliable of tech stocks.
- Creating a mote around your portfolio with these three stocks would reinforce its strength in a potentially unstable time.
Market volatility persists even as the stock market is up on the year.
Both economic data and central bankers’ commentary about the direction of interest rates continue to cause gyrations in equity markets. China reports poor trade figures (slowing GDP figures) and oil price drops, which pull stocks lower. Better-than-expected inflation numbers in the U.S. send equities soaring. And whenver U.S. Federal Reserve Chair Jerome Powell comments publicly on interest rates, markets seem to have a fit. This can be nerve-wracking for investors, especially for people who check their portfolio constantly.
So, how can you shield your portfolio from market volatility?
Purchasing defensive stocks can make a big difference. These are stocks of typically blue-chip companies that are profitable and able to perform strongly in any market and economic condition. Finding these reliable names and adding them to a portfolio can help ensure that less pain is felt during times of upheaval in the stock market. Let’s take a close look at these three defensive stocks to protect your portfolio from this market volatility.
JPMorgan (JPM)
JPMorgan Chase (NYSE:JPM), the world’s biggest bank with $3 trillion of assets under management, just reported exceptionally strong second-quarter results. The New York lender announced that its Q2 net income increased 67% to $14.5 billion due to rising income from higher interest rates. Earnings per share (EPS) came in at $4.37 versus $4 that had been forecast among analysts who track the company’s progress. Revenue in Q2 came in at $42.4 billion compared to $38.96 billion that was forecast on Wall Street.
The bank attributed the earnings beat to higher rates and strong loan growth. JPMorgan said its revenue growth was driven higher by a 44% increase in its net interest income to $21.9 billion. The amount of loans issued by the lender rose 13% during the quarter. The latest earnings print proves that JPMorgan is a solid company that performs well in any type of market and economy. JPM stock has risen 35% in the past 12 months, including a 12% gain so far in 2023.
PepsiCo (PEP)
Beverage and snack giant PepsiCo (NYSE:PEP) is another reliable blue-chip stock that can fortress a portfolio from volatility. The company behind the Pepsi soft drink, Lay’s potato chips, and Quaker oatmeal, just reported better-than-expected second quarter earnings and raised its full-year guidance. Pepsi announced EPS of $2.09 for the quarter ended June 30. That was better than consensus Wall Street forecasts for earnings of $1.96 a share.
Revenue rose 10% from a year ago to $22.32 billion versus $21.73 billion that was anticipated.
Looking ahead, PepsiCo said it expects its full-year revenue to grow a further 10%, compared with a previous forecast of 8% growth. The company foresees earnings of $7.47 per share for all of this year, up from an earlier forecast of $7.27. With its focus on popular consumer food products, PepsiCo is the kind of company that sails through periods of volatility and can perform strongly even in an economic downturn. PEP stock is up 11% in the past 12 months.
Apple (AAPL)
If there’s one tech stock that can be considered a defensive play and reliable performer, it’s consumer electronics giant Apple (NASDAQ:AAPL). The tech mammoth is fresh off achieving a $3 trillion market capitalization, becoming the first publicly traded company to do so and making it the world’s most valuable concern. AAPL stock is also one of the few mega-caps that pays a quarterly dividend to shareholders, offering a yield of 0.50%.
And, Apple buys back more of its own stock than any other public company.
It owes its enduring popularity and strong sales to its key products, the iPhone, iPad, and MacBook computer. AAPL stock has proven to be a consistent winner over the years, gaining 31% over the last 12 months and more than 300% through five years. Few other tech stocks have produced such consistent gains for stockholders. Apple also remains a cash generating machine. With stable management under the direction of long-time CEO Tim Cook, Apple continues to push into new areas such as streaming and finance.
On the date of publication, Joel Baglole held a long position in AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
MULN Stock: Mullen Enters Into Pilot Program With Shoshoni Tribe BY EDDIE PAN (INVESTOR PLACE, NASDAQ), 25 JULY
- Mullen Automotive (MULN) has entered into a pilot program with the Shoshoni Native American Tribe.
- The tribe will pilot Mullen’s ONE and CAMPUS vehicles.
- MULN stock is down more than 95% so far this year.
Mullen Automotive (NASDAQ:MULN) stock is in focus after the electric vehicle (EV) company announced that it had entered into a pilot program for its Mullen ONE Class 1 EV cargo vans and Mullen CAMPUS delivery utility vehicles with the Shoshoni Native American Tribe of Northern California and Nevada. The vehicles will be piloted at Nations Distribution “located on the Harrah’s Northern California Resort & Casino property.”
“Our tribe’s vision to transition to electric-powered vehicles and sustain green initiatives is in line with the National EV Initiative for Tribal Nations,” said Chief William Bills, CEO and President of the Shoshoni tribe. “The collaboration between the Shoshoni tribe and Mullen aligns with the national initiative and serves as a powerful example for other tribal nations to follow. By showcasing the successful integration of electric vehicles into our operations, the Shoshoni tribe can inspire and encourage other tribes to explore sustainable transportation options.”
Mullen points out that its vehicles support the National EV Initiative for Tribal Nations. The program provides for the adoption of EVs and EV networks in Native communities and supports President Joe Biden’s goal of having EVs account for a 50% market share in U.S. automotive sales by 2030.
This isn’t the only pilot program that Mullen has entered into this year. Earlier this month, the company announced that it would pilot its CAMPUS EV with the New York Power Authority (NYPA). Mullen believes that its vehicle fits hand-in-hand with the NYPA’s 2030 vision of decarbonizing electricity.
In February, Mullen also disclosed that it had entered into a 60-day pilot programfor its Class 1 EV cargo van with Menzies Aviation and Loop Global at the Los Angeles International airport. The vehicle was tested for use cases such as transporting employees to aircraft. During the program, which Mullen deemed as “successful,” two vans were driven for over 1,500 miles with “consistent performance with 100% uptime and zero maintenance issues.”
Menzies requested modifications to the van following the program, such as additional seating and windows. Mullen noted that Menzies was likely to order vans following the modifications, but there has been no official word thus far of any order.
https://investorplace.com/2023/07/muln-stock-alert-mullen-automotive-announces-new-pilot-program/