On today’s episode of Full Court Finance here at Zacks, Ben Rains looks at three stocks from completely different economic sectors that are poised to grow during the second half of 2020, despite continued coronavirus economic uncertainty.
U.S. stocks soared to start the first full week of July. The Nasdaq hit new highs once again on Monday, driven by big early jumps from the likes of Tesla (NASDAQ:TSLA) TSLA, Amazon AMZN, Netflix (NASDAQ:NFLX) NFLX, and others.
Wall Street has decided recently to look to the positive signs of an economic recovery as the U.S. slowly tries to return to something close to normal. This is evidenced by the fact that the headlines continue to pour in about spikes of coronavirus cases in states such as Texas and California.
Wall Street might remain in its don’t fight the Fed mode as they chase returns amid the low interest rate environment. Therefore, investors might want to consider looking for stocks that can expand even as the economy slows during the coronavirus.
With this in mind, we dive into three stocks that all hold a Zacks Rank #1 (Strong Buy) at the moment and might continue to prove immune to the Covid-19 downturn.
First, AbbVie’s ABBV acquisition of Allergan (NYSE:AGN) has bolstered its portfolio and its dividend yield blows away its industry, as well as Pfizer PFE and Eli Lilly LLY.
Meanwhile, Dollar General DG has outpaced Target TGT and Walmart (NYSE:WMT) WMT over the last three years and its sales and earnings are set to surge.
We then close with why stay-at-home standout Zoom Video ZM remains an enticing stock despite its nearly 300% climb in 2020.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Target Corporation (NYSE:TGT): Free Stock Analysis Report
Amazon.com, Inc. (NASDAQ:AMZN): Free Stock Analysis Report
Pfizer Inc. (NYSE:PFE): Free Stock Analysis Report
Walmart Inc. (WMT): Free Stock Analysis Report
Dollar General Corporation (NYSE:DG): Free Stock Analysis Report
Eli Lilly and Company (NYSE:LLY): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
Tesla, Inc. (TSLA): Free Stock Analysis Report
AbbVie Inc. (NYSE:ABBV): Free Stock Analysis Report
Zoom Video Communications, Inc. (NASDAQ:ZM): Free Stock Analysis Report
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