Businesses in the stock market are ripe for the picking. The current bull market is providing investors with excellent opportunities for growth. When choosing companies to invest in, it’s crucial to be selective and consider long-term prospects.
Even with a modest investment of $500, there are ways to become a part owner of quality stocks through methods like fractional investing or dollar-cost averaging. Here are two growth stocks worth adding to your portfolio:
1. Bristol Myers Squibb (BMY) has seen a decline in its share price recently, but this shouldn’t deter investors. The company is facing challenges like the loss of patent exclusivity on key products, but it has made strategic acquisitions in the cancer and neurological disorder treatment space. While these acquisitions may impact short-term financials, Bristol Myers remains a solid long-term investment. The company also boasts a reliable dividend payout, with a current yield of nearly 6%.
2. Amazon (AMZN) continues to be a powerhouse in the tech industry, particularly in the realm of artificial intelligence (AI). The company’s AI chips, Inferentia and Tranium, offer competitive pricing and have seen growing demand. Amazon’s AI-focused applications, integrated with its cloud platform AWS, are driving significant profitability. The company’s e-commerce and cloud computing businesses remain strong, with promising growth prospects in the AI space.
Both Bristol Myers Squibb and Amazon present compelling opportunities for investors looking for long-term growth. These companies have proven track records and are well-positioned for success in their respective industries.