ADSK - 3 Best Software Stocks to Buy in 2023 and Beyond
2023-10-19 07:00:00 ET
Software companies sit in a unique position within the business world. Their products provide vital functions like cybersecurity, design tools, or base functionality for manufacturing. Without them, many businesses wouldn't exist or would be inept. This makes many companies vital to operations, so replacing them isn't easy, which makes them highly resistant to turnover.
This is an excellent quality to look for in a potential investment, and by spreading out which software companies you buy across multiple industries, you can create a diverse portfolio just through software companies. Three of my favorites are CrowdStrike (NASDAQ: CRWD) , Autodesk (NASDAQ: ADSK) , and Adobe (NASDAQ: ADBE) . This trio has been a long-term success story, but I also think right now could be an opportune time to buy all three.
CrowdStrike is a cybersecurity company specializing in protecting network endpoints (like a laptop or phone). It also has a host of other products to create a more complete cybersecurity platform, but all are centered around one thing: artificial intelligence (AI). CrowdStrike uses a branch of AI known as machine learning to constantly train its models to protect users with the most up-to-date information.
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3 Best Software Stocks to Buy in 2023 and Beyond