As the S&P 500 continues to soar to new heights, it’s easy to get caught up in the excitement. However, savvy investors know that market volatility is inevitable, and it’s essential to be prepared for the next downturn. Instead of waiting for the storm to pass, why not take a proactive approach and identify quality growth stocks that would thrive in a market correction?
These exceptional companies should boast a robust earnings track record, a clear competitive advantage, and a bright future outlook. Two such unstoppable players that should be on your radar are Meta Platforms and Palantir Technologies.
Meta Platforms has cemented its position as a social media behemoth, with its suite of apps – Facebook, Messenger, Instagram, and WhatsApp – being an integral part of daily life for over 3.2 billion users worldwide. The company’s moat lies in its ability to retain users, who would sacrifice their vast networks by switching to alternative platforms. This loyalty, combined with its solid reputation, drives revenue growth and attracts advertisers. With a recent 22% revenue increase to $39 billion and a net income of over $13 billion, Meta is poised to dominate the artificial intelligence space, investing heavily to create personalized AIs for its users.
Palantir Technologies, on the other hand, has undergone a remarkable transformation, shifting its focus from government contracts to commercial growth. Its unique data aggregation capabilities have enabled companies to make game-changing decisions, driving its stock up 130% this year. With the launch of its Artificial Intelligence Platform, Palantir has supercharged its growth, boasting a 55% surge in U.S. commercial revenue and an 83% increase in U.S. commercial customers.
Both Meta and Palantir have demonstrated remarkable resilience and growth potential, making them attractive buys during a market downturn. By planning ahead and identifying these quality growth stocks, you can capitalize on the next market correction and set yourself up for long-term success.
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