Hello, Reader
The American billionaire J. Paul Getty once remarked that his formula for success was to “rise early, work hard, strike oil.”
But if you don’t strike oil, you need other ways to accumulate — and protect — your wealth.
So, while there is no perfect investment method, there is a way to allocate your assets intelligently. This will then help you set yourself up for the best chance at success.
Now, there are multiple facets to this strategy, but the one I want to focus on today is stocks to buy and hold forever. So, here are three stocks that I consider to be some of the best “Forever Stocks” out there.
Let’s get started…
Three “Forever Stocks”
Corning Inc. (GLW)
If we were to play a word-association game and I said “Artificial intelligence,” you might respond with something like “Nvidia,” or “Google,” or maybe “robots.” You probably would not say “Corning.”
But as it turns out, this iconic glass maker could benefit significantly from the AI boom, as a classic “picks and shovels” play.
For more than 170 years, the Corning Inc. (GLW) name has been synonymous with best-of-breed glass products. It has continuously innovated and set the industry standard for excellence.
The path from AI to Corning is fairly direct and intuitive. AI technologies require enormous processing power from data centers. Because this new source of demand is surging, the companies that operate data centers are ramping up their capacity by building new centers and/or boosting the capacity and speed of existing centers.
It remains a relatively cheap and underappreciated AI play. So, in the next phase of the AI boom, I would favor the unloved Corning
GE HealthCare Technologies Inc. (GEHC)
GE HealthCare is interesting – both for what it is already and what it could become.
As one of the oldest “new” healthcare stocks in the market, GE HealthCare is a blue-chip company with a formidable presence in the medical imaging industry.
The company operates in more than 160 countries. It sells medical equipment like CT scans, MRIs, X-rays, and ultrasound machines. It also sells service contracts on those machines.
From an investment perspective GE HealthCare is a two-part story. It is a solid, steadily growing medical imaging company that also includes considerable fast-growth potential from its AI product line and investments.
According to Grand View Research, artificial intelligence will become a key driver of medical device innovation over the coming decade. The research firm predicts the AI component of the healthcare market will skyrocket from $15.4 billion in annual sales last year to more than $200 billion in 2030. That’s a compound annual growth rate of 37.5%.
PayPal Holdings Inc. (PYPL)
PayPal is a titan of the digital payments industry.
During the last several years, the tally of active accounts on PayPal’s platform has swelled 63% to 435 million, while the annual volume of processed payments on its platform has doubled to a whopping $1.37 trillion.
PayPal’s dominant position in the “branded checkout” segment has powered most of that growth. The “PayPal/Venmo” checkout button you might see when shopping online is an example of that business. Eighty percent of the top 1,500 retailers in North America and Europe feature PayPal in their digital wallets – which is nearly three times more than the No. 2 player, Apple Pay.
But PayPal is not taking its success for granted. The company is fortifying its market leadership by integrating leading-edge AI and machine-learning processes into key aspects of its operations. For example, the company uses AI to detect fraudulent transactions and to boost the approval rate of valid transactions.
I believe this company to be a leader in the financial technology world.
The Next Evolution in Stocks
These three stocks are sure to fortify your portfolio in 2024 and beyond. You can read the full details of these companies – along with four additional recommendations – in my free special report 7 Stocks to Buy and Hold Forever.
As I believe in the longevity in these stocks, it’s important to note that artificial intelligence is a prominent component in their enduring success. In fact, there’s a particular area of development in AI that I have been also keeping my eyes on recently…
Behind the scenes of the tech landscape, the world’s leading researchers and companies are developing an artificial general intelligence (AGI) breakthrough that could potentially affect every single person in the world.
The “Road to AGI” involves developing AI systems that can match or surpass human-level intelligence across a vast range of cognitive tasks. This will revolutionize industries, scientific research, and our daily lives in ways we can hardly imagine.
To learn more about the “Road to AGI,” click here.
Regards,
Eric Fry
