Morgan Stanley says new technologies are feeding into a surge in productivity that will help the economy for years.
Strategist Adam Virgadamo says the pandemic will speed up that change, and investors don’t have to buy tech stocks to reap the rewards.
He’s compiled a list of innovators that have been outperforming and look like they will continue to do based on their strategies and investments in their businesses.
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New technology has permeated so many industries and transformed business. But when investors want long-term growth, they’re mostly buying the same mega-cap tech stocks.
That’s stayed true even as some experts have warned about the sky-high prices of those same stocks, raising the spectre of the dot-com bubble 20 years ago and the dominance of a handful of giant stocks that hit record levels.
Whether there’s a bubble or not, Adam Virgadamo, a
One beneficiary of that acceleration will be leading renewable power producer Brookfield Renewable(NYSE: BEP)(NYSE: BEPC). That’s evident in the company’s updated five-year plan, which forecasts high-powered earnings and dividend growth through at least 2025. Add that visible upside to the company’s already high-yielding dividend, and there’s good reason to believe it will produce substantial total returns for investors over that time frame.