A Bull Market Is Coming: 2 Top Stocks to Buy Now

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If you’d like to position yourself to profit from the next big rally in the stock market, consider the following two stocks. Both are set to benefit from powerful trends that should drive their revenue and earnings sharply higher in the coming years.

1. DraftKings

A whopping 73.5 million Americans intend to place bets on National Football League (NFL) games this season, according to the American Gaming Association. As a leader in the booming sports betting industry, DraftKings (DKNG) stands to profit from this trend more than perhaps any other company.

Bettors are flocking to the popular sportsbook platform. DraftKings’ monthly paying customers jumped 44% year over year to 2.1 million in the second quarter. These people are also wagering more money. Average revenue per payer leaped 33% year over year to $137. Together, these gains drove an 88% year-over-year surge in DraftKings’ revenue, to $875 million.

DraftKings’ mobile sports betting operations are live in only 21 states. That leaves 29 states and more than half the U.S. population as opportunities for further growth. DraftKings plans to enter recently authorized markets in Kentucky, North Carolina, and Vermont in the coming months. A dozen other states have also taken steps to potentially legalize mobile sports betting.

All in all, DraftKings management expects its full-year revenue to grow as much as 58% to $3.5 billion in 2023. Moreover, management forecasts adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of up to $175 million in the fourth quarter, compared to a loss of $50 million in the prior year period.

With DraftKings’ sales soaring and profitability rapidly improving, buying the company’s stock seems like an intelligent wager to make today. 

2. Palantir Technologies  

Investors are tantalized by the potential of artificial intelligence (AI), and it’s not hard to see why. The cutting-edge technology has the potential to change how we learn, work, and play.

Palantir Technologies (PLTR) wants to help companies realize the awesome potential of AI. To do so, it’s marrying its highly regarded machine-learning capabilities with the large language models that power ChatGPT and other popular generative AI applications.

Palantir has plenty of experience analyzing highly sensitive information after serving the U.S. government as a defense contractor for many years, and the U.S. military remains an important customer. The U.S. Special Operations Command recently awarded Palantir a contract worth up to $463 million to strengthen its ability to process real-time information.

CEO Alex Karp says there’s also a vast market for Palantir’s AI solutions among businesses. Healthcare leaders like Novartis are partnering with Palantir to fast-track their research and development efforts. Engineering firms like Jacobs use Palantir’s software to bolster their planning, design, and supply chain management processes. And energy giants like BP are working with Palantir to reduce production costs by as much as 60%.

With benefits such as these, customers are jumping at the chance to use Palantir’s AI platform. All told, Palantir expects its revenue and adjusted operating earnings to grow by 16% and 37%, respectively, to $2.2 billion and $576 million in 2023. These strong gains in sales and profits should lead to lucrative returns for investors who buy the data analytics expert’s shares today.


This article was originally published on this site