Over the past year, rising interest rates and fears of a global recession drove many investors away from higher-growth tech stocks. Here, I'll highlight three of those recession-resistant plays -- Veeva Systems (NYSE: VEEV), Fortinet (NASDAQ: FTNT), and Airbnb (NASDAQ: ABNB) -- and explain why they're still great buys as the bear market drags on. Veeva Systems is the top provider of cloud-based customer relationship management (CRM) services for life science companies.
If you're looking to add more stocks to your portfolio right now, here are three top healthcare stocks to consider when formulating your list of long-term buys. Vertex Pharmaceuticals (NASDAQ: VRTX) has a near monopoly over the multibillion-dollar cystic fibrosis treatment industry with its portfolio of medicines. In a patient with cystic fibrosis, the CFTR gene becomes mutated, which means this protein is not able to function normally.
Duato will succeed Alex Gorsky, who will step down from his role as executive chairman following a brief transitional period. J&J veteran Duato replaced Gorsky as CEO earlier this year after holding a variety of roles during his more than 30 years at the company. He also took a leading role in J&J's COVID-19 response and helped shape its pharmaceutical business strategy.