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How do you spot stocks that are most likely to explode in value? Many experts will tell you to focus on earnings growth. If their earnings are growing now and have been growing for a while, the chances are that the company will continue to grow moving forward.
But that is only one part of the equation. Focusing on earnings growth will give you a measure of a good company, but it won't spot industries that are set to explode. Now, investing in any company in a booming industry won't get you very far. You have to make sure you invest in the right company when looking for the next big thing…
With that in mind, here are three stocks that are ready to take over three industries that are ready to explode.
Stitch Fix Inc (NASDAQ: SFIX)
Spending on artificial intelligence (AI for short) is expected to nearly triple between now and the year 2023. And there are really only two “buckets” that expose you to the money that's being made from AI.
The first is to invest in the manufacturers of AI products. AI products include devices with “personal assistants” like Amazon's “Alexa” to manufacturers of the chips that will allow the computing power AI will require to become possible.
The second is one that uses artificial intelligence to improve their own products and services. Enter our target, Stitch Fix, an online, personalized apparel company that millennials and boomers alike are raving over.
Stitch Fix's President and Chief Operating Officer just state that the company is already on track to hit $2 billion in sales this quarter.
Partially due to its lack of overhead since it doesn't operate any stores, this company has been profitable since 2014. But what makes it most exciting is its future. After spending years serving women, they have only just started selling men's and kids and are already finding success.
Nokia Corporation (NYSE: NOK)
You may remember Nokia as one of the early cell phone manufacturers back when we were all toting flip-phones instead of smartphones, but they are innovating in a big way today.
The company recently halted dividend payments to invest more in 5G technology, but had a better-than-expected end of the year. But a recent move by BCE Inc., one of Canada's largest telecom provider should have investors salivating.
They just signed an agreement with Nokia on February 6th to build its Canadian 5G network. This move is a strong signal for Nokia's global 5G rollout.
IBM (NYSE: IBM)
IBM went on a tear early in the year, rising from $136/share to $154/share in the early part of the year.
IBM, once a powerhouse in the tech industry, is prepared to become a big leader in up-and-coming technologies like artificial intelligence and cloud computing.
In fact, according to recent reports from CNBC, IBM brought in nearly three times as much revenue from cloud services as Google in 2019.
2020's Stock of the Year
One company is about to blow nearly every other technology firm out of the water.
As one investment analyst commented: “Its numbers are truly mind-blowing.”
Thirty-one analysts recently gave this stock a massive buy/outperform rating…
And it just triggered a fresh signal that indicates it could be about to explode in price.
You see, this company holds more than 200 patents, and 500 more are pending in a technology that experts are calling “the new oil.”
That makes this company absolutely dominant in a tech revolution that is expected to explode in 2020.
