2 Growth Stocks to Buy in September Before They Skyrocket
The market is inching higher again after giving up some of its earlier year-to-date gains. The S&P 500 has now increased 17% so far in 2023. Investors were wary of interest rate hikes but have again increased their market confidence.
Of course, there are no guarantees that the market will continue to gain this year, but in the long term, if you buy great stocks, you should be amply rewarded. Lululemon Athletica (NASDAQ: LULU) and Airbnb (NASDAQ: ABNB) are two great choices.
1. Lululemon: Making premium mainstream
Lululemon makes premium athletic wear, with prices to match, but it has captured mass consumer attention and market share. It consistently demonstrates high growth and robust profitability, and it recently embarked on a growth strategy that should keep up momentum for the next several years.
In its second quarter (ended July 30), revenue increased 18% over last year to $2.2 billion. While growth was strong in North America at 11%, it was outstanding in international markets at 52%. That's part of the new strategy, which is to double men's and digital sales and quadruple international sales by 2026. It's a repeat of a previous goal that was successfully reached early, and it looks like the new plan is heading down the same path.