Hey everyone and welcome back to YT Finance! Today, we’re discussing the best stocks to buy right now, and boy do we have some exciting picks for you! While February brought some market turbulence due to high inflation and predictions of aggressive interest rate hikes, there’s still hope for stock investors. Defensive stocks are proving to be the best bet in this kind of environment, and we’ve got three top defensive plays for you to consider.
First up, we have Eli Lilly (LLY), a high-end healthcare company that is seen as a solid defensive stock. Although the stock has underperformed this year due to its higher price tag, a small miss on quarterly sales for its new diabetes drug, and a temporary trend away from defensive stocks, experts predict that Lilly is poised for a healthy rebound over the rest of 2023. With a recession-proof business model, a strong track record, and a stellar long-term outlook, Eli Lilly is definitely a stock to keep your eye on!
Next, we have Lockheed Martin (LMT), a major player in the defense industry that saw its shares rise by 36.8% last year. Although the stock has dropped by 2.23% this year due to investors’ initial optimism that the Federal Reserve would slow down on future rate hikes, hot inflation, more rate hikes, and a possible global recession are three reasons why Lockheed’s stock is primed for a comeback. With approximately 70% of its annual revenue coming from contracts with the U.S. Department of Defense and a long-term revenue stream that extends all the way through 2070, Lockheed Martin could be the perfect stock for your portfolio in 2023 and beyond!
Third, we have Verizon, a large-cap telecom company renowned for its reliability and investment in network strength. While a potential economic recession could lead to customers migrating to low-cost carriers, Verizon’s operational efficiencies and scale should help mitigate the impact on profitability. With an annualized dividend yield of 6.49% and currently trading at under 9 times forward earnings, Verizon is an enticing investment option in the current turbulent market.
Last but not least, we have The Trade Desk, a standout in the ad tech industry that’s taking market share quickly. With revenue climbing 24% to $491 million in the fourth quarter and GAAP earnings of $0.14 per diluted share, up sevenfold from the prior year, The Trade Desk is outpacing industry leaders Alphabet and Meta Platforms, both of which reported a 4% decline in fourth-quarter ad revenue. Despite the recent market volatility, The Trade Desk is a standout in the ad tech industry and a solid investment option.
So there you have it, folks! These are our top picks for the best defensive stocks to buy right now. Stay tuned for more exciting updates in the world of finance!
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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