Whenever the discussion pivots to stocks to buy for long-term growth, invariably, the “accretive” technology sector garners a tremendous amount of the spotlight. By accretive, I’m referring to solutions that forward productivity, such as artificial intelligence or electric vehicles. However, many other sectors warrant consideration, especially if we’re going to extend the timeline.
In particular, some rising evidence points to much-hyped endeavors potentially not meeting muster. Let’s look at generative AI. Everybody (seemingly) loves talking about AI and how machines can take over the world. Really? Did anyone bother to realize that generative AI can be alarmingly stupid? Perhaps not.
Further, stories have erupted across mass media that EVs are struggling against cold weather dynamics. And that confirms an ugly talking point. It’s possible that the EV integration push has gone too far, too fast. And if that’s the case, boring legacy automakers still have a shot.
With that, expanding your horizons can yield truly viable ideas for the future. Below are long-term growth stocks to consider.
A multinational health insurance and services company, UnitedHealth (NYSE:UNH) might not be everyone’s idea for stocks to buy for long-term growth. It’s a stable, reliable enterprise but it doesn’t seem particularly exciting. In the past 52 weeks, for instance, UNH shares only gained a bit over 6%. Still, the company may benefit from a massive demographic catalyst.
Of course, I speak about the baby boomer situation. As the Pew Research Center pointed out in November 2020, the pace of boomer retirements has accelerated. In the third quarter of the publication year, about 28.6 million people of this cohort reported that they retired. Generally, retirement means aging into one’s golden years and that almost invariably translates to greater needs.
Yes, we can talk about UnitedHealth’s Medicare and Medigap plans, which can be tailored for seniors’ needs. However, the company also offers critical services such as its HouseCalls program, which sends nurse practitioners to visit seniors in their homes for wellness checks.
It’s a need that will keep accelerating because time stops for no one. Analysts rate shares a strong buy for darn good reason.
Again, everyone (I’m using hyperbole here) loves talking about AI. And if they’re not riding the AI wave, then they’re preaching about quantum computing. Or the blockchain or this-or-that shig-a-ma-jig that efficiently enhances efficiencies through ethically ethical equitable equity initiatives. Does anybody care to protect all these doohickey whatchamacallits? Let’s talk about cybersecurity specialist SentinelOne (NYSE:S).
Sometimes, when I’m assessing advanced technology enterprises, I’m left wondering if the companies themselves know what they’re talking about. Whatever it is that these word-salad-preparing entities do, SentinelOne offers top-tier protection. Through AI-powered preventative measures, unified endpoint protection schemes, automated response and threat response directives, SentinelOne ensures that businesses run smoothly. As well, it offers a great resource to investigate circumstances that went awry for future protective protocols.
According to McKinsey & Company, the global cybersecurity sector’s total addressable market could reach between $1.5 trillion and $2 trillion. Honestly, that’s no surprise. We’ve already witnessed what cyberattacks can do to storied blue chips. For obvious reasons, SentinelOne represents one of the long-term growth stocks to consider.
Usually, I prefer to explain the thesis, then build into the buy/sell/hold directive. Here, I’m just going to say it flat out: Cameco (NYSE:CCJ) – which ranks as the world’s largest publicly traded uranium company per its public profile – is easily one of the stocks to buy for long-term growth. I’m not just saying that. Recently, I’ve gone nuclear with my portfolio, adding several uranium-related ideas to my personal portfolio.
So, in the future, I may add Cameco to the fold. If you want to know what my personal ideas for long-term growth stocks are, hit me up on X. For now, the main thesis for CCJ stock centers on the uranium supply crunch. According to The Wall Street Journal, Kazatomprom – Kazakhstan’s state uranium company – revealed that “shortages of key materials such as sulfuric acid are making it difficult to produce as much yellowcake as before.”
What’s more, Kazatomprom’s production target for 2025 might not come true – and we already know that 2024 is effectively shot. Factor in the potential huge influx of EVs being integrated into the grid and we have a serious problem. Do the math – CCJ is one of the long-term growth stocks.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.