2023-04-28 05:56:00 ET
Last year, the benchmark S&P 500 tumbled into a bear market as recession fears weighed on investor sentiment. The index is still down 14% from its high, but investors should view that drawdown as a buying opportunity. Every bear market has eventually ended in a new bull market, and the S&P 500 has never failed to recoup its losses.
With that in mind, Intuit (NASDAQ: INTU) and Costco Wholesale (NASDAQ: COST) have both outperformed the market over the last three, five, and 10 years, and investors have good reason to believe that trend will continue. Here's why both blue chip stocks are worth buying.
Intuit provides financial software and services to consumers and small businesses. The company is best known for TurboTax and QuickBooks, the gold standard in U.S. tax preparation and accounting software, respectively. Intuit holds more than a 70% market share in both categories, and the essential nature of those products makes the company somewhat resilient to economic cycles.
For further details see:
A Bull Market Is Coming: 2 Blue Chip Stocks to Buy Now and Hold Forever