Our latest roundup of the best stocks to buy now includes five industry leaders in renewable energy, infrastructure, legal cannabis, artificial intelligence, and streaming media. These are some of the fastest-growing industries on the planet, and they’re sure to propel these picks to profitable new heights for years to come.
Here’s a preview of what you’ll find below:
- Shares in the world’s largest solar energy company cooled off last year, but watch them take off again as global investment in renewables ramps up.
- No one knows what the next big tech company is going to be. But whatever it is will certainly depend on the products and services our pick-and-shovel play delivers.
- As the legal cannabis industry burgeons around the world, one company is emerging as the clear winner for industry dominance.
- A company that was known for gaming products is now a leader in artificial intelligence, and the market for its AI chips is set to grow eightfold in five years.
- A new video streaming provider is set to debut this year. And when you hear the brand names it’s sitting on, you’ll see why it can give Netflix a run for its money.
And now our latest list of best stocks to buy now…
Best Stocks to Buy Now, No. 5: Buy This Solar Stock Before It Hits Its Next Record
Renewable energy has hit critical mass. If you’re not invested yet, now is the time.
That puts it well on its way to hit its goal to average 65% by 2030.
Most countries aren’t on Germany’s level yet, but there’s no question where the trend is headed.
The International Energy Agency (IEA) estimates that 70% of the growth in global electricity agency between 2017 and 2023 will come from renewables.
And solar stocks will be the big beneficiaries of that. According to Allied Market Research, the global solar energy industry is expected to hit $422 billion by 2022. That’s almost five times what it was in 2015.
Investing in solar energy is a no-brainer. And JinkoSolar Holding Co. Ltd. (NYSE: JKS), the world’s largest solar manufacturer, is your best bet to get a piece of the industry.
Based in China, JinkoSolar is already generating nearly $4 billion in annual sales, which come from 35 different countries, including the United States, Germany, and Japan.
The company has been breaking records with its solar shipments quarter after quarter. Despite another record in 2018 – 11.4 GW of solar power shipped – growth for the year was considered a disappointment. That’s in large part because China cut its solar power incentives.
But that one-time hit has not hurt the company’s long-term prospects, and it’s revving back into high gear with what could be 15 GW shipped in 2019.
In April, JinkoSolar won the All Quality Matters Award for PV Module Energy Yield Simulation. That’s a mouthful, but simply put, it’s the most sought-after award in the industry, and it demonstrates Jinko’s leadership in this space.
If all this isn’t enough reason to buy, we should add that JKS just got a top score from our Money Morning Stock VQScore™ system, indicating that the share price is due for a rise.
At this point, it’s impossible to deny that solar is going getting increased attention over the next few years. And as Money Morning Resource Specialist Peter Krauth says, “JinkoSolar is sure to be at the forefront of investors’ minds.”
Best Stocks to Buy Now, No. 4: This Pick-and-Shovel Play Gives You Four Companies for the Price of One
The pick-and-shovel play is a simple concept: While everyone else is looking to strike gold, you sell them picks and shovels that they need for the prospecting. That way, you can get rich no matter which miners come out on top.
If you can sell them picks and shovels plus overalls and camping equipment, even better.
That’s what our next best stock does, with four different businesses offering products and services that all the high-flying tech stocks are going to depend on for the next several decades.
That would be Brookfield Asset Management Inc. (NYSE: BAM), which began in 1899 as the Brazilian São Paulo Tramway, Light and Power Company.
Now based in Toronto, Brookfield has 80,000 employees and manages $285 billion in assets spread across four categories: real estate, infrastructure, renewable energy, and private equity. These investments are spread in part among several publicly-traded companies that Brookfield holds a stake in, including Brookfield Property Partners LP (NASDAQ: BPY) and Brookfield Renewable Partners LP (NYSE: BEP).
The real estate holdings include more than 250 office properties around the world and 47 million square feet of logistics properties for the rapidly expanding e-commerce industry, as well as thousands of residential units.
Brookfield’s infrastructure portfolio keeps the lights on and the mobile phones working in the Americas, Europe, and Australia. And it runs 37 ports around the world.
According to the International Energy Agency, more than 70% of global electricity generation growth between 2017 and 2023 will come from renewable sources. And Brookfield is a leader here too. It boasts the world’s largest independently owned hydroelectric portfolio, with 217 facilities in North and South America.
The company also owns solar plants totaling 1,100 megawatts, and 2,700 megawatts worth of pumped hydroelectric and battery storage.
And Brookfield’s private equity wing covers all kinds of service companies, including those in financial services and facilities management.
These are the enterprises that serve as the backbone of our economy. You never know who the next tech success story like Alphabet Inc. (NASDAQ: GOOGL) or Amazon.com Inc. (NASDAQ: AMZN) is going to be. But you do know it’s going to depend to a large extent on what Brookfield holds in its portfolio.
That’s why Money Morning Special Situation Strategist Tim Melvin calls Brookfield Asset Management his “desert island stock,” the one he would buy if it was the only stock he could own for the rest of his life.
“This is a stock to own for the long haul, folks,” Tim says.
Best Stocks to Buy, No. 3: The Legal Cannabis Market Has Its Top Brand, and It’s Time to Buy
The legal cannabis industry today is a lot like the computer industry in 1986. Everybody knows that it’s going to be a major growth industry over the next couple decades. And yet only a relatively small number of people are going to invest in the industry’s biggest success story.
In the case of the computer industry, that was Microsoft Corp. (NASDAQ: MSFT), which from 1986 to 1999 grew by 61,035%. To put that in perspective, it would have taken an investment of just $1,650 to turn yourself into a millionaire in 15 years.
The question, then, is which company is going to be the “Microsoft of weed.” And, as legal cannabis enters the mainstream, an answer to that question has finally emerged.
It’s Canopy Growth Corp. (NYSE: CGC).
We’ve already written about Canopy. And if you bought it back in November 2017 when Money Morning Chief Investment Strategist Keith Fitz-Gerald recommended it, you’ve enjoyed gains of 225%.
But there are a number of reasons to expect more gains – big gains – to come, as Canopy cements its status as the world’s top cannabis company.
One big reason is its recent acquisition of Acreage Holdings Inc. (OTCMKTS: ACRG). Or, more specifically, the agreement is that the sale will go through if and when the United States legalizes cannabis.
With 33 states and the District of Columbia now allowing medical cannabis, that moment might not be far off. And the acquisition of Acreage would give Canopy a big leg up in penetrating this lucrative market.
But even without Acreage, Canopy has already established itself in just about every major cannabis market in the world. That includes not just Canada, where the company is based, and several U.S. states, but also the UK, Australia, South Africa, Brazil, Colombia, Germany, Denmark, and Spain, among others.
Canopy’s competition is scrambling to keep up. Harvest Health and Recreation Inc. (OTCMKTS: HRVSF) recently acquired Verano Holdings LLC for $850 million in stock. And Cresco Labs Inc. (OTCMKTS: CRLBF) shelled out $1.1 billion worth of stock for CannaRoyalty Corp. (OTCMKTS: ORHOF).
But Canopy’s global footprint is unparalleled, and that’s what’s going to keep it on top as this market expands dramatically across the world.
As Money Morning Director of Cannabis Investing Research Greg Miller writes, “Canopy will exit the next 10 years the way it’s entering them – as the King of Cannabis – and it has a place in every investor’s portfolio.”
So if you missed out on the gains Canopy has delivered already, there’s still time to be the lucky investor who bet on Microsoft in 1986. Don’t pass it up.
Best Stocks to Buy, No. 2: The Booming Artificial Intelligence Market Is Driving This Stock’s Resurgence
Nvidia Corp. (NASDAQ: NVDA) has enjoyed fantastic success in recent years: Its sales more than doubled from $5 billion in 2016 to $12 billion in the last fiscal year.
But as sales are projected to slip this year – down to $11 billion – Wall Street has retreated from the stock. Shares have fallen from $280 last September to less than half that now.
This was a massive overreaction. For one thing, sales and earnings growth are projected to pick up again next year. And Nvidia is locked in on several of the most profitable trends in the world today.
Look at its dominance in artificial intelligence chips, to start. Nvidia holds 75% share of a market that’s set to grow more than 50% annually, from $4.27 billion in 2018 to $34.3 billion in 2023.
Nvidia is adapting those chips for the specific needs of multiple industries, too. That’s how it has become a major player in the self-driving vehicle industry. Nvidia has partnered with big automakers like Toyota Motors Corp. (NYSE: TM) and Daimler AG (OTCMKTS: DMLRY), among others, to accelerate the move toward a world with zero car accidents.
The company’s AI chips are also used in urban camera networks to facilitate better city planning. They are used in healthcare for medical imaging, analytics, drug testing, and more. And they are used in supply chains to boost productivity and get products into customers’ hands more quickly.
It’s hard to believe that just a few years ago Nvidia was known mostly for its video game graphics cards. And even with its new ventures, it hasn’t set aside that $140 billion market. It’s still making the best gaming chips out there, and it’s leading the way in virtual reality for gamers.
All this means that NVDA is a fantastic deal if you get in now. As Money Morning Defense and Tech Specialist Michael Robinson says, “By buying shares before Wall Street wakes up to the great AI and supercomputing story here, you are setting yourself up for very profitable long-term holding .”
And Michael’s not the only Money Morning expert that likes this stock. Keith Fitz-Gerald also recommended it to readers on May 24, suggesting a lowball order of $135 to get the best value from it.
As of now, NVDA shares have dipped to $136. So it’s just about time to pull the trigger on that recommendation.
Best Stocks to Buy, No. 1: As Netflix Sputters, This New Competitor Is Due for a Big Rise
With nearly 140 million subscribers, Netflix Inc. (NASDAQ: NFLX) is the undisputed king of streaming media. But after years of monumental growth, its momentum has slowed: The stock is down 2% over the last 12 months.
So if you’re looking for the best content streamer to invest in right now, you’d do better to find one with more room for growth.
As it happens, there’s a fresh upstart in the streaming business that’s about to make a big splash. And it’s already got one of the biggest media empires in human history behind it.
You’ve heard of Walt Disney Co. (NYSE: DIS), right?
In April, the $240 billion behemoth announced that its new streaming service, Disney+, would launch later this year.
Disney stock got an immediate 20% bounce from the news, but that excitement has tapered off in the last few weeks. Perhaps that’s because we’ve seen so-called “Netflix killers” come and go several times in recent years, and investors are wary of getting on board this latest bandwagon.
But Disney+ doesn’t need to kill off Netflix to be highly profitable. And it has a few things going for it that make it a very good bet.
For starters, there’s the price: At $6.99 a month, Disney+ will be one of the most affordable options in the content streaming universe.
Oh, and then there’s the content. That “Avengers” movie that just shattered box office records this spring is a Disney property. So is the entire Marvel Cinematic Universe. So is Star Wars. So are all the great Disney movies that have been entertaining kids for generations, from classics like “Bambi” and “Dumbo” to recent blockbusters like “Frozen” and “Moana.”
Rest assured that plenty of people will be happy to pay $7 for instant access to that content. Don’t be surprised if, before long, it’s Netflix that’s feeling the pressure to keep up.
Money Morning’s options trading specialist, Tom Gentile, writes, “the words ‘Star Wars’ and ‘Marvel’ alone tell you all you need to know about the heavy profit firepower the Mouse is packing.”
— Stephen Mack
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Source: Money Morning