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My 3 Favourite U.S. Stocks to Buy Right Now

Jed Lloren
·4 min read
A worker uses a laptop inside a restaurant.
A worker uses a laptop inside a restaurant.

Written by Jed Lloren at The Motley Fool Canada

Although I strongly believe in the quality of the Canadian stock market, I still choose to invest in international stocks. This is because investing internationally can benefit my portfolio in ways that the Canadian stock market can’t. For example, some U.S. stocks can give your portfolio exposure to markets not present in Canada. In this article, I’ll discuss three of my favourite stocks to buy right now. All three of these companies trade on the American stock exchanges.

My favourite stock in the world

If I could only invest in one stock for the next five years, I would choose Sea Limited (NYSE:SE). This company operates three distinct business segments. Garena, its digital entertainment arm, is its first segment. Through Garena, Sea Limited develops and distributes mobile games. That includes Free Fire, which is one of the most downloaded mobile games in the world.

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Shopee is Sea Limited’s second business segment. Shopee is the most visited e-commerce market in southeast Asia and now also operates in North and South American and European countries. Finally, the company’s third business segment is SeaMoney. This arm of Sea Limited’s business provides users with a digital wallet that can be used to make payments for everyday purchases a lot easier.

In the second quarter (Q2) of 2022, Sea Limited reported US$2.9 billion in revenue. That represents a 29% year-over-year (YoY) increase. This was mostly driven by a 51.4% YoY increase in revenue in Shopee’s quarterly revenue. Looking at the company’s financials, it’s clear that things are going very smoothly for Sea Limited. I think this stock still has a lot of room to grow.

The largest position in my portfolio

Although Sea Limited is my favourite stock, it’s not the largest position in my portfolio. That’s because my Tesla (NASDAQ:TSLA) position has grown an incredible amount since I first bought shares. As you may know, Tesla is a leading player in the global electric vehicle industry. In Q2 2022, the company delivered more than 250,000 vehicles.

This company gets a lot of criticism due in large part to its eccentric chief exectuive officer Elon Musk. However, it’s important that investors don’t get distracted from Tesla’s business. Looking at its most recent numbers, the company appears to be on the right track. It reported a 42% YoY increase in its Q2 revenue and a 47% YoY increase in quarterly profit. That means Tesla is becoming more profitable as its business scales. That’s the dream when it comes to growth stocks.

One of my most comfortable holdings

Finally, if there’s one stock in my portfolio that I’m confident wouldn’t encounter many issues over the coming years, it’d be Apple (NASDAQ:AAPL). This is not only the largest consumer tech company in the world, but it’s the largest company in the world, bar none. In Q3 2022, Apple reported US$83 billion in revenue. With the release of the iPhone 14 being unveiled earlier this month, I expect this stock to have a strong fourth quarter.

In my opinion, Apple is a stock that investors could buy on any given day. In five years’ time, I think there’s a very good chance investors could come out on top due to the strength of this stock’s balance sheet and the company’s tendency to buy back shares.

The post My 3 Favourite U.S. Stocks to Buy Right Now appeared first on The Motley Fool Canada.

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Fool contributor Jed Lloren has positions in Apple, Sea Limited, and Tesla. The Motley Fool recommends Apple, Sea Limited, and Tesla. The Motley Fool has a disclosure policy.

2022