FCX - 3 Great Long-Term Growth Stocks to Buy in the New Year
2024-01-02 10:02:00 ET
The New Year is usually a good time to try to refresh a portfolio and buy stocks worth holding for the long run. I think MSC Industrial (NYSE: MSM) , Freeport-McMoRan (NYSE: FCX) , and On Semiconductor (NASDAQ: ON) are three names worth looking at closely. They are all companies with excellent megatrends behind them and look set for long-term growth.
Significant events often change how companies think about running their businesses. In this case, the COVID-19 pandemic and the accompanying lockdowns created massive pressure on supply chains. These issues, most visibly seen in semiconductor shortages that affected myriad companies' ability to deliver products and sent costs soaring, have caused many companies to reassess their supply chains and procurement strategies.
As such, companies are looking to reduce supply chain complexity, often reducing their number of suppliers and looking to reshore production to the United States. It's no accident that U.S. manufacturing spending has boomed in recent years.
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3 Great Long-Term Growth Stocks to Buy in the New Year