The last 20 years has ushered in incredible change in the domestic and global economy. This millennium began with the bursting of the dot com bubble. At the end of the 2000s, the global financial system suffered its worst cataclysm since the Great Depression. Advances in technology and the continued financialization of the economy have transformed the concept of work itself. Millennials need to pay attention to the trends that will shape the future. Today, I want to look at three stocks that are worth owning for the next half-century.
Millennials: Why BlackBerry is still worth a look
BlackBerry (TSX:BB)(NYSE:BB) is a Canadian company that is no stranger to transformations. In the mid- to late 2000s, BlackBerry had established itself as a dominant player in hardware with its world-famous smartphone. Over the next few years, Apple and Android competitors would smash the company’s advantage in the smartphone space. Since then, BlackBerry has moved to a focus on software.
There is still a lot to like at BlackBerry. It has established promising footprints in cybersecurity and automated vehicle software. Both sectors are positioned for big growth in the years ahead. This should interest millennial investors. In Q2 FY 2021, BlackBerry reported revenue of $259 million — up from $244 million in the prior year. Its growth exceeded expectations in the face of the COVID-19 pandemic.
Shares of BlackBerry have dropped 23% in 2020 as of close on September 25. The tech stock last had a favourable price-to-book value of 1.3.
This tech stock has had a coming out party in 2020
Kinaxis (TSX:KXS) is an Ottawa-based company that provides supply chain and operations planning software to a global client base. I’d suggested that investors get in on Kinaxis stock to start this year. Shares of Kinaxis have shot up 85% in 2020.
In the second quarter of 2020, the company reported SaaS revenue growth of 26% to $35.7 million. Unlike many struggling companies this year, Kinaxis has been able to reiterate its SaaS revenue guidance for fiscal 2020, while bumping up its projections in other areas. It achieved adjusted EBITDA growth of 94% to $22.4 million.
Millennials on the hunt for exposure to artificial intelligence should consider Kinaxis, which is utilizing AI development and machine learning to bolster its products. Moreover, the company possesses an immaculate balance sheet.
One more future stock for millennials
Jamieson Wellness (TSX:JWEL) is a Toronto-based company that develops, manufactures, distributes, sells, and markets natural health products in Canada and internationally. Indeed, its has derived significant growth from its global divisions in recent quarters. Shares of Jamieson have climbed 57% so far this year.
In Q2 2020, Jamieson delivered revenue growth of 15.6% and adjusted EBITDA growth of 15.8%. The supplements market has posted nice growth in recent years. It is expected to receive a boost from a growing consumer base in the form of an aging population. The COVID-19 pandemic has put even more emphasis on personal health.
Millennials should be interested in Jamieson’s impressive growth trajectory. The supplements market is poised to make waves in the 2020s and beyond.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. David Gardner owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool recommends BlackBerry, BlackBerry, and KINAXIS INC.