Two of these players are leaders in their markets and generating billion-dollar revenue.
The third company is working on a potential product that’s set for high demand.
10 stocks we like better than Nvidia ›
When looking to invest $1,000 or more, it’s a great idea to think about diversification. You might want to pick up two or three stocks that each offer you something different — from exposure to a particular industry to investment in a type of story, such as growth or recovery, for example. It’s always a great idea to favor diversification in your portfolio so that if one stock or industry slumps, others may compensate.
Right now, as the S&P 500 (SNPINDEX: ^GSPC) marches higher and interest rates decline, it’s the perfect time to add a few growth stocks to your portfolio. And these three offer you this potential, as well as three very different stories.
One is a tech stock leading in the billion-dollar artificial intelligence (AI) market. Another is a biotech that’s seen its stock price slip — but its drug candidates, set to serve a high-demand market, could quickly turn that situation around. Finally, the third is a cruising giant that’s seen revenue soar — and should benefit from a lower interest rate environment.
You probably have heard the name Nvidia (NASDAQ: NVDA) here and there, even if you’re not a tech investor. The AI chip designer has roared into the spotlight thanks to the strength of its products — top-performing graphics processing units (GPUs), as well as related tools like enterprise software that have become essential for companies along their AI journey. All this has resulted in double- and triple-digit revenue growth, with earnings reaching well into the billions of dollars.
Nvidia faces rivals, but they will have trouble unseating this market giant — and likely won’t be able to do so. That’s because Nvidia is fully committed to innovation, updating its already top-performing chips annually. This doesn’t leave others much time to catch up.
Meanwhile, this chip leader is operating in a market…
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