) specializes in big data analytics and offers software to the military and governments for intelligence, as well as to corporate customers. Biden’s defense strategy supports a broader use of technology, which is a massive win for companies such as Palantir. This firm stands to benefit not only from the military’s increased interest in data and analytics, but also from the Democrats’ general support for the technology sector.
Stocks to Buy for a Blue Wave: Alphabet (GOOG)
Speaking of the technology sector, beyond the defense niche, the industry will undoubtedly boom under another Democratic victory. Alphabet (NASDAQ:GOOG) is a company to watch. From its hardware division, including Pixel phones and Nest smart home products, Google has managed to diversify its cash flow stream. With revenue jumping 34% year-over-year in its latest earnings report, an investment in Alphabet is an investment in a colorful future. Whether you value the figure of 34% growth annually or the bigger picture of GOOG working diligently to expand their roots, Google is a promising investment for the digital generation.
The post-special election blue wave shows no signs of receding, and the financial market has responded accordingly to the potential for Biden’s reelection. The best stocks for the next blue wave are crystal clear to any keen investor. Clearway Energy is set to soar on the wings of Democratic support for clean energy. Palantir Technologies is poised to thrive on the battlefield of global politics. And Alphabet, laden with innovative ambition, appears primed to maintain its upward trajectory in the digital era. It’s time to batten down the hatches and prepare for the Blue Wave!
Palantir’s Potential Amid Political and Economic Shifts
Palantir’s Potential Amid Political and Economic Shifts
Palantir Technologies (NYSE: PLTR) operates in the tech space but has a history of procuring lucrative defense contracts from the U.S. Department of Defense. Thanks to the artificial intelligence (AI) boom, it has enjoyed a year of steady growth but still trades at less than $25 per share.
More recently, the Biden administration announced plans for an executive order to curb “the ability of foreign governments to access sensitive personal data on Americans that could jeopardize national security.” If this focus on data protection continues, Palantir would be in an excellent position to benefit, as its Foundry platform offers data protection and governance services.
Taiwan Semiconductor Manufacturing Company (TSM)
Source: Ascannio / Shutterstock.com
Another point of focus for the Biden administration has been semiconductor production. Part of the historic CHIPS Act included a $5 billion investment in semiconductor research and development. But this focus has included trying to bring leading companies in the space to U.S. soil, such as courting Taiwan Semiconductor Manufacturing (NYSE:TSM). As long as the AI boom continues, TSM will be in an excellent position, as many leading tech companies rely heavily on it.
As InvestorPlace contributor Tyrik Torres notes, “If Biden were to win his reelection, I believe investors should expect more of the same policy incentives to entice contract manufacturing behemoth TSMC to set up factories in the U.S.”
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.
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