ADSK - Autodesk Just Showed Why It Belongs in Every Investor's Portfolio
The phrase "recession-proof stock" has different meanings to different investors. Some would say that subscription businesses fit the bill, while others might say they are companies that provide something critical to people's survival, or sellers of products and services that consumers would never think of cutting. However, it all boils down to how companies perform during challenging periods.
One company that deserves the recession-proof description is Autodesk (NASDAQ: ADSK) . It provides the computer-aided design (CAD) software that engineers and architects use daily to do their jobs. Before Autodesk and its peers created their products, designs and blueprints were drawn by hand. Now, many firms that employ engineers or architects has a subscription to Autodesk or one of its competitors. And in my view, Autodesk belongs in every investor's portfolio.
Among Autodesk's primary products are AutoCAD, Revit, and Inventor. These programs are staples in the industry, and engineering and architecture students learn how to use them in school. However, the company offers nearly 100 different products, including some that don't fall into the engineering or architecture niches.
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Autodesk Just Showed Why It Belongs in Every Investor's Portfolio