Advances in technology often come loaded with financial opportunities, and scanning the one presented by the nascent autonomous driving industry could yield explosive gains for investors. As the industry continues to evolve and grow, here are 7 stocks to buy now that could unlock explosive gains in your growth-stock portfolio.
First on the list is Alphabet Inc. (NASDAQ:GOOGL), the parent company of Google, which has been investing heavily in autonomous driving technology through its Waymo subsidiary. Waymo has been testing its self-driving cars for years and is one of the leaders in the industry. With a market cap of over $1.2 trillion, Alphabet is a solid investment for those looking to tap into the autonomous driving industry.
Second on the list is Tesla Inc. (NASDAQ:TSLA), which has been at the forefront of the electric and autonomous vehicle revolution. With a market cap of over $900 billion, Tesla is one of the largest and most well-known companies in the industry. The company's focus on innovation and sustainability has made it a favorite among growth investors.
Third on the list is NVIDIA Corporation (NASDAQ:NVDA), a leading provider of graphics processing units (GPUs) for gaming and artificial intelligence applications. NVIDIA has been investing heavily in autonomous driving technology and is a key supplier of hardware to the industry. With a market cap of over $500 billion, NVIDIA is a solid investment for those looking to tap into the autonomous driving and AI industries.
Fourth on the list is Intel Corporation (NASDAQ:INTC), a leading provider of computer processors and other hardware. Intel has been investing heavily in autonomous driving technology and has partnerships with several leading companies in the industry. With a market cap of over $200 billion, Intel is a solid investment for those looking to tap into the autonomous driving and semiconductor industries.
Fifth on the list is General Motors Company (NYSE:GM), one of the largest automakers in the world. GM has been investing heavily in autonomous driving technology and has partnerships with several leading companies in the industry. With a market cap of over $80 billion, GM is a solid investment for those looking to tap into the autonomous driving and automotive industries.
Sixth on the list is BlackBerry Limited (NYSE:BB), a leading provider of security software and services. BlackBerry has been investing heavily in autonomous driving technology and has partnerships with several leading companies in the industry. With a market cap of over $5 billion, BlackBerry is a solid investment for those looking to tap into the autonomous driving and cybersecurity industries.
Seventh on the list is Luminar Technologies Inc. (NASDAQ:LAZR), a leading provider of lidar sensors for autonomous vehicles. Luminar has partnerships with several leading companies in the industry and is a key supplier of hardware to the industry. With a market cap of over $8 billion, Luminar is a solid investment for those looking to tap into the autonomous driving and sensor industries.
In conclusion, with so much going on in the economy, investors may feel more confidence betting on established earnings winners stocks. The laws of physics apply in some ways to investing. For example, some stocks have inertia -- they just can't break out of their rut. However, investing in the autonomous driving industry could unlock explosive gains for investors. These seven growth stocks offer exposure to the industry and could be solid investments for those looking to tap into the industry's potential.
