The 7 Most Innovative Stocks to Invest in Today 2023/04/18 20:00:44 InvestorPlace
2022 was a forgettable year for financial markets. That also included several of the most popular innovative stocks. In fact, those cutting-edge stocks, usually favored by maverick stock-picker Cathie Wood, were down more than 50% last year. Naturally, against a backdrop of ballooning interest and inflation rates, few, if any, would’ve favored innovative stocks. The turn of events last year favored profitable businesses with defensive low-growth strategies. However, as evidenced by the stock market resurgence of late, these stocks will continue outperforming their counterparts over the long term. For example, Cathie Woods believes that long-term profitability and stock market performance of the so-called ‘profitless tech’ companies outperform those that favor a more share-holder-friendly approach. By the way, the ARK Innovation ETF (NYSEARCA: ARKK ) is up a healthy 20% so far this year, pointing to a strong upside potential ahead for cutting edge stocks. MSFT Microsoft $288.06 NVDA Nvidia $276.22 CGNX Cognex $49.26 SNSR Global X Internet of Things ETF $32.52 TSLA Tesla $184.79 IRTC iRhythm Technologies $131.94 ON ON Semiconductor $79.12 Innovative Stocks: Microsoft ( MSFT ) Source: Epic Cure / Shutterstock Tech giant Microsoft (NASDAQ: MSFT ) never ceases to amaze with its ability to tap into the most powerful up-and-coming technology trends.