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Stocks to buy in Canada in July 2023

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“Best Buys Now” Pick #1:


At the end of each year, my colleagues and I at Stock Advisor Canada share a list of stocks every investor should own.

These so-called Starter Stocks don’t require much attention from you after you buy them. And generally speaking, we’re of the mind that the best returns come to those who buy these companies and leave them alone for as long as possible.

But the calendar months have been turning, so today, we’re sharing our favourite of these stalwart stocks for investing right now. These “Best Buys Now” represent the five companies from our Starter Stock collection that we think are, well, the best to buy … right now. Buy them and then forget about them — your returns will thank you later.


Suffice it to say, artificial intelligence (AI) has been the story of the first half of 2023. And underlying AI are semiconductors. The world as we know it craves them. The world of our future selves really craves them. Yet the entire industry is built upon the back of a single company: ASML (Nasdaq: ASML).

ASML makes lithography systems for the semiconductor industry. It has the world’s only “extreme ultraviolet” system necessary for advanced chips, as well as a large share of the deep ultraviolet market. The company’s products cost as much as $200 million each and have high gross margins. With massive growth expected in the semiconductor industry over the coming decades, ASML is in an incredibly unique position to capitalize.

“Best Buys Now” Pick #2


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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 Iain Butler has no position in any of the stocks mentioned. The Motley Fool recommends ASML. The Motley Fool has a disclosure policy.

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