The 7 Most Innovative Stocks to Invest in Today (2023)

2022 was a forgettable year for financial markets. That also included several of the most popular innovative stocks. In fact, those cutting-edge stocks, usually favored by maverick stock-picker Cathie Wood, were down more than 50% last year.Naturally, against a backdrop of ballooning interest and inflation rates, few, if any, would’ve favored innovative stocks.

The turn of events last year favored profitable businesses with defensive low-growth strategies. However, as evidenced by the stock market resurgence of late, these stocks will continue outperforming their counterparts over the long term. For example,Cathie Woods believes that long-term profitability and stock market performance of the so-called ‘profitless tech’ companies outperform those that favor a more share-holder-friendly approach. By the way, the ARK Innovation ETF (NYSEARCA:ARKK) is up a healthy 20% so far this year, pointing to a strong upside potential ahead for cutting edge stocks.

SNSRGlobal X Internet of Things ETF$32.52
IRTCiRhythm Technologies$131.94
ONON Semiconductor$79.12

Innovative Stocks: Microsoft (MSFT)

The 7 Most Innovative Stocks to Invest in Today (1)

Source: Epic Cure / Shutterstock

Tech giant Microsoft(NASDAQ:MSFT) never ceases to amaze with its ability to tap into the most powerful up-and-coming technology trends. It’s certainly beaten others to the punch with its foray into the burgeoning artificial intelligence space in hopes of significantly growing its market share in the search business.

Given Microsoft’s massive investments in OpenAI, AI will be a key driving force for its business as we advance. Moreover, it has already incorporated the wildly popular AI chatbot, ChatGPT into its Bing search engine. Plus, the impact of ChatGPT is already being felt, with Bing topping 100 million users recently.

Furthermore, Microsoft’s Azure cloud platform offers multiple AI and machine learning resources, including cognitive, bot, and machine learning services. Additionally, the company is expected to integrate advanced AI functionalities into its core products, such as its Office software suite. Therefore, you can best believe that Microsoft remains one of the most cutting-edge stocks to invest in at this time.

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Innovative Stocks: Nvidia(NVDA)

Nvidia(NASDAQ:NVDA)is a semiconductor titan, which usually makes the list of the most disruptive stocks. Its cutting-edge microchips are the lifeblood of a myriad of applications, ranging from video game consoles and cloud computing behemoths to quantum computers and intuitive AI chatbots. It continues to push the boundaries of innovation, rewarding its shareholders along the way. In the past three years, NVDA stock has grown its returns by a whopping 269%. Take it back to the 10-year mark, and you have it yielding over 8,300% returns making it a tantalizing prospect for investors seeking long-term returns.

Its robust partnership with OpenAI’s trailblazing ChatGPT chatbot is a testament to the quality of its offerings. By leveraging Nvidia’s unrivaled chips, OpenAI has honed its extensive language models to the peak of its abilities. Furthermore, Nvidia’s ambitious DGX Cloud platform is democratizing the development of AI tools, opening up new avenues for investments in the sector.

Innovative Stocks: Cognex (CGNX)

The 7 Most Innovative Stocks to Invest in Today (3)


Cognex(NASDAQ:CGNX) is one of the top players in the emerging manufacturing AI niche, a market set for dumbfounding growth over the next several years. According to research firm Vantage Market Research, the manufacturing AI sphere could skyrocket to $61.9 billion in value by 2030, a 51% bump from 2022 levels.The machine vision systems provider uses AI to automate tedious manufacturing tasks effectively. Growth rates have been remarkable over the past five years, averaging over 10% top-line expansion.

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However, the company has been facing some headwinds of late due to reduced spending by its major e-commerce customers, including Amazon(NASDAQ:AMZN). Nevertheless, its long-term growth potential remains intact, with the trend toward manufacturing automation not slowing down anytime soon. The need for more blue-collar workers will inevitably lead to higher investments in manufacturing robots, a trend benefitting Cognex

Global X Internet of Things ETF (SNSR)

The 7 Most Innovative Stocks to Invest in Today (4)

Source: Freedom365day /

The Internet of Things (IoT) concept has blown up in the past few years, effectively revolutionizing our lives. From smart homes to autonomous cars, the possibilities are endless. Layer that up with 5G technology, and the potential for innovation in the IoT space will likely go through the roof. Investors looking to capitalize on this trend would want to wager on an exchange-traded fund such as the Global X Internet of Things ETF(NASDAQ:SNSR).

The fund provides exposure to a swath of businesses involved in developing smart homes, autonomous vehicles, industrial automation, and other technologies. By investing in SNSR, investors can access a wide portfolio of companies with massive growth potential in the IoT space.Furthermore, it comes with a relatively low expense ratio of 0.68%, having grown over 62% in value in the past three years. On top of that, its trailing twelve-month dividend growth rate is at an eye-catching 42%, over 100% higher than the sector median.

Tesla (TSLA)

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In the ever-evolving equity market landscape, EV pioneer Tesla(NASDAQ:TSLA) stands out as a dazzling exemplar of success. While 2022 was incredibly bumpy for growth stocks, with TSLA stock taking a 43% hit, 2023 has taken a sharp turn in favor of the bulls. TSLA shares have skyrocketed by over 60% this year, with no end to the momentum in sight.

Tesla’s strategic move to slash prices on its Model S and Model X vehicles was initially frowned upon by market analysts. Yet, the electric automaker quickly proved the naysayers wrong, with its customers warmly embracing the cuts. Its first quarter performance is a testament to that notion, with it delivering nearly 423,000 vehicles, up from the previous quarter’s 405,000. Though it represents a deceleration from the prior-year period, its overall direction remains positive, considering the weaknesses in the macro environment. Its resilience in the face of adversity is a testament to its unwavering strength and penchant for innovating.

iRhythm Technologies (IRTC)

The 7 Most Innovative Stocks to Invest in Today (6)

Source: ImageFlow/

iRhythm Technologies(NASDAQ:IRTC)has flown under-the-radar despite being a hyper-growth stock over the past several years. Its innovative Zio heart rate monitor has helped post stellar quarterly results over the years, with 5-year average top-line growth at 35%. Its rock-solid performance is expected to continue, with its management forecasting 16% to 18% sales growth this year. By 2027, its management expects sales to be top $1 billion.

The Zio heart rate monitor has proven to be incredibly effective in detecting irregularities in heart rhythm and has helped prevent hospitalizations, major cardiac events, and deaths. Despite operating in an unconducive environment, its sales grew spectacularly 27% last year, with roughly 68.5% gross margins. Additionally, its shares are trading attractively at 9.8 times sales, 22% below its five-year average. Tipranks analysts forecast almost a 10% upside from current price levels.

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ON Semiconductor (ON)

The 7 Most Innovative Stocks to Invest in Today (7)

Source: AdityaB. Photography/

ON Semiconductor(NASDAQ:ON) is another tech juggernaut that is effectively charging ahead on the electrifying highway of automotive innovation. Its unique combination of intelligent sensing and power solutions carved out its niche in the fast-evolving electric vehicle space. Moreover, it remains one of the biggest needle-movers in the next-gen Advanced Driver-Assistance Systems (ADAS). Its top-tier image sensors propel the industry forward, fueling the need for more safety, regulatory support, and rising consumer demand.

Diversification is at the heart of ON Semiconductor’s success, spreading its tentacles across multiple lucrative realms, including vehicle electrification, industrial automation, 5G, and cloud infrastructure. The past year has seen phenomenal growth across both lines, further underscored by its rock-solid balance sheet, brimming with a staggering $2.95 billion in cash equivalents. Additionally, the stock trades at a hefty discount to its historical average, offering a strong upside ahead.

On the date of publication, Muslim Farooque 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 Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

Blue-Chip Stocks

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What are the 10 best stocks to buy right now? ›

10 Best Stocks to Buy Now—May 2023
  • U.S. Bancorp USB.
  • Taiwan Semiconductor Manufacturing TSM.
  • Wells Fargo WFC.
  • Roche Holding RHHBY.
  • Comcast CMCSA.
  • International Flavors & Fragrances IFF.
  • Anheuser-Busch InBev BUD.
May 1, 2023

What stock is hot right now? ›

IT Gartner Inc329.54+4.25
CRM Salesforce Inc209.06+2.42
DVN Devon Energy Corp49.67+0.56
XOM Exxon Mobil Corp107.59+1.19
6 more rows

What are the best stocks to invest in 2023? ›

10 of the Best Stocks to Buy for 2023
StockYTD Total Returns Through May 17 Inc. (AMZN)37.5%
Walt Disney Co. (DIS)6.8%
PayPal Holdings Inc. (PYPL)-13.7%
EOG Resources Inc. (EOG)-12.5%
7 more rows
7 days ago

What is the best up and coming stock? ›

Top 11 up-and-coming stocks in 2023
StockTicker SymbolDescription
MongoDB(NASDAQ:MDB)A developer data platform company.
Lemonade(NYSE:LMND)An AI-powered insurance company.
Opendoor Technologies(NASDAQ:OPEN)A real estate technology company focused on iBuying.
Snowflake(NYSE:SNOW)A cloud-based data storage platform.
7 more rows

What stock will grow the most in 2023? ›

Bank of America's Best Growth Stocks of 2023
CompanyForward Sales Growth Next Year
Alphabet (GOOG, GOOGL)+11.8%
Eli Lilly (LLY)+19.4%
Match (MTCH)+13.0%
Progressive (PGR)+10.9%
6 more rows
May 1, 2023

What are the top 3 most active stocks today? ›

Most Actives
SymbolNamePrice (Intraday), Inc.115.54
AQUAEvoqua Water Technologies Corp.49.88
KSSKohl's Corporation20.73
NVDANVIDIA Corporation298.44
21 more rows

What's the hottest penny stock right now? ›

Most Active Penny Stocks
  • NVTA1.230.10% Invitae Corporation.
  • FFIE0.230.01% Faraday Future Intelligent Electric Inc.
  • BNGO0.710.02% Bionano Genomics, Inc.
  • BBBYQ0.240.03% Bed Bath & Beyond Inc.
  • HTCR2.461.18% HeartCore Enterprises, Inc.
  • AITX0.010.00% ...
  • HCMC0.000.00% ...
  • SHPH1.510.47%

What's the fastest growing penny stock? ›

Fastest-Growing Tech Penny Stocks
Fastest Growing Tech Penny Stocks
Price ($)Revenue Growth (%)
Grab Holdings Inc. (GRAB)3.03311.5
Stem Inc. (STEM)4.92194.5
Velo3D Inc. (VLD)1.95186.1
Apr 10, 2023

What stocks could double in 2023? ›

7 Growth Stocks That Could Double Your Money in 2023
KYMRKymera Therapeutics$28.35
HSAIHesai Group$8.10
ABCLAbCellera Biologics$5.74
2 more rows
May 14, 2023

What is the most successful stock of all time? ›

The Best Performing Stocks in History
  • Coca-Cola. (NASDAQ: KO) ...
  • Altria. (NASDAQ: MO) ...
  • (NASDAQ: AMZN) ...
  • Celgene. (NASDAQ: CELG) ...
  • Apple. (NASDAQ: AAPL) ...
  • Alphabet. (NASDAQ:GOOG) ...
  • Gilead Sciences. (NASDAQ: GILD) ...
  • Microsoft. (NASDAQ: MSFT)

What markets will boom in 2023? ›

Three Key Sectors in Which to Invest in 2023
  • Consumer staples. ...
  • Precious metals. ...
  • Healthcare.
Jan 12, 2023

What stock is growing the fastest? ›

Fastest-Growing Stocks
Price ($)Market Cap ($B)
Apollo Global Management Inc. (APO)60.9334.8
Performance Food Group (PFGC)61.609.6
Norwegian Cruise Line Holdings Ltd. (NCLH)14.146.0
2 more rows
May 5, 2023

What stock makes you the most money? ›

25 Top-Paying Dividend Stocks That Will Make You Rich
  • Emerson Electric Company. Annual dividend: $2.00. ...
  • Aflac Inc. Annual dividend: $1.12. ...
  • Archer Daniels Midland. Annual dividend: $1.44. ...
  • Pepsico Inc. Annual dividend: $4.09. ...
  • Cincinnati Financial. ...
  • General Dynamics Corp. ...
  • Genuine Parts Company. ...
  • Raytheon Technologies Corp.
Oct 12, 2021

What is the best stock to make money fast? ›

In addition to Amgen, Inc. (NASDAQ:AMGN), other Fast Money stocks that are widely held by elite hedge funds include Tesla, Inc. (NASDAQ:TSLA), UnitedHealth Group Inc. (NYSE:UNH), and Microsoft Corporation (NASDAQ:MSFT).

Which stock will grow in 10 years? ›

5 Best Growth Stocks for the Next 10 Years
Growth stockYear-to-date return (as of May 10 close)
Apple Inc. (ticker: AAPL)33.8%
DexCom Inc. (DXCM)8.2%
Fortinet Inc. (FTNT)37.1%
Tesla Inc. (TSLA)36.8%
1 more row
May 11, 2023

Which stocks to buy for 5 years? ›

Growth stocks for next 5 years
S.No.NameCMP Rs.
1.Brightcom Group16.20
2.Man Infra94.10
3.BLS Internat.169.45
4.D-Link India236.40
23 more rows

What is number 1 in stock market? ›

Best Company to Invest in Share Market
S.No.Company NameIndustry
1.Reliance Industries Ltd.Multinational Conglomerate
2.Tata Consultancy Services Ltd.Information Technology
3.HDFC Bank Ltd.Banking
21 more rows
Apr 26, 2023

What is the most popular stock to own? ›

  • Aurora Cannabis. ACB. +6.02%
  • +1.84%
  • Apple. AAPL. +0.06%
  • Microsoft. MSFT. -0.06%
  • Alphabet. GOOG. -0.22%
  • Zoom Video. ZM. -0.23%
  • Meta. META. -0.49%
  • AMC Entertainment. AMC. -0.79%

What are the top 20 stocks to invest in? ›

  • TSLA. Tesla Inc.
  • AAPL. Apple Inc.
  • AMZN., Inc.
  • WMT. Walmart Inc.

What are the top 5 penny stocks right now? ›

List of Penny Stocks
Company NameLTP% Change
Ortel Communications Ltd1.154.55
DCM Financial Services Ltd4.654.49
Birla Tyres Ltd4.74.44
Dhanuka Realty Ltd9.454.42
6 more rows

What is the best stocks to buy right now for beginners? ›

Compare the best stock for beginners companies
CompanySectorMarket cap
Comcast (CMCSA)Communication services$175 billion
Bristol-Myers Squibb (BMY)Health care$143 billion
Qualcomm (QCOM)Technology$129 billion
Broadcom (AVGO)Technology$265 billion
2 more rows
May 1, 2023

What are the 10 best penny stocks to buy? ›

10 Best Penny Stocks with Strong Fundamentals
  1. Suzlon Energy Ltd.
  2. Reliance Power.
  3. Vodafone Idea.
  4. Alok Industries Ltd.
  5. Yes Bank Ltd.
  6. Dish TV India Ltd.
  7. Morepen Laboratories Ltd.
  8. GMR Power and Urban Infra Ltd.
May 9, 2023

What is the best penny stock for 2023? ›

  • Canaan (CAN)
  • VAALCO Energy (EGY)
  • Ribbon Communications (RBBN)
  • Ardelyx (ARDX)
  • Savara (SVRA)
  • Compare the best penny stocks.
  • Methodology.
  • Final verdict.

What stock to buy tomorrow? ›

stocks to buy tomorrow intraday NSE. Stocks going UP tomorrow
CompanyToday's MovementTomorrow's Movement
Devyani InternationalBullishTomorrow buy
Generic EngBullishTomorrow buy
Repro IndiaBullishTomorrow buy

Which stocks to buy for next 2 years? ›

Best Stocks to Buy in India for Long Term in 2023
S.No.Long Term Stocks IndiaIndustry
1.Reliance IndustriesMultinational Conglomerate
2.Tata Consultancy Services (TCS)Information Technology
3.InfosysInformation Technology
4.HDFC BankBanking
1 more row

Which US stocks to buy now? ›

Best US Stocks
Stock NameTickerMarket Cap
Microsoft CorporationMSFT1.705 T Inc.AMZN1.089 T
Tesla, Inc.TSLA642.330 B
Johnson & JohnsonJNJ432.395 B
16 more rows

What stocks to buy today for long term? ›

best long term stocks
1.SG Finserve131.74
2.Ksolves India43.61
3.Tips Industries27.77
4.Waaree Renewab.37.16
23 more rows

Which stocks always go up? ›

S&P 500 Stocks That Only Go Up
CompanySymbolYTD % Stock Gain
MarketAxess Holdings(MKTX)32.3%
5 more rows
Aug 21, 2020

What are the most stable stocks to buy? ›

7 Safe Stocks to Invest in for Steady Returns in 2023
AWRAmerican States Water$90.63
2 more rows
Apr 17, 2023

Where to invest $1,000 right now? ›

How to invest $1,000 right now — wherever you are on your financial journey
  • Build an emergency fund. An emergency fund is crucial to your financial health. ...
  • Pay down debt. ...
  • Put it in a retirement plan. ...
  • Open a certificate of deposit (CD) ...
  • Invest in money market funds. ...
  • Buy treasury bills. ...
  • Invest in stocks.
May 8, 2023

What is the stock market prediction for 2024? ›

Through the first quarter of 2024, analysts expect the S&P 500 to climb 8 percent, to 4,289 from 3,970.99 when the survey closed on March 24. That follows a year of optimism in 2022, when each quarterly survey predicted that the market would be higher in a year.

What will 2023 look like for the stock market? ›

10% Return for S&P 500 a Real Possibility by End of 2023

Earnings drive stock prices. And in today's market, with its newfound emphasis on fundamentals, earnings really matter. Short of a recession — a very real possibility — consensus estimates are for about 5% earnings growth for S&P 500 companies in 2023.

What stock has had the most growth? ›

Best-performing growth stocks
Company Name & SymbolRevenue Growth (Last Qtr vs. Same Qtr Prior Yr)Price Performance (1 Yr)
Catalyst Pharmaceutical Inc. (CPRX)58.60%103.58%
UFP Technologies Inc. (UFPT)61.93%97.25%
Napco Security Technologies Inc. (NSSC)26.66%75.04%
Lattice Semiconductor Corp. (LSCC)24.09%60.52%
5 more rows
May 1, 2023

Which stock will grow more? ›

growth stocks for future
S.No.NameCMP Rs.
2.Tips Industries166.35
3.Guj. Themis Bio.813.40
4.Manali Petrochem73.05
5.Bhansali Engg.121.90
23 more rows

What stocks are rich people buying? ›

Here are nine of the current stocks the wealthiest people in the world are buying.
  • Alphabet (GOOG)
  • Amazon (AMZN)
  • Colgate-Palmolive (CL)
  • Constellation Energy (CEG)
  • Dollar General (DG)
  • Meta Platforms (META)
  • Microsoft (MSFT)
  • PayPal Holdings (PYPL)
Nov 16, 2022

What do rich people invest in? ›

Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks.

What is the safest investment with highest return? ›

High-quality bonds and fixed-indexed annuities are often considered the safest investments with the highest returns. However, there are many different types of bond funds and annuities, each with risks and rewards. For example, government bonds are generally more stable than corporate bonds based on past performance.

What is the easiest stock to buy? ›

Here are the 15 best stocks to buy for beginners in 2023:
  • Amazon (NASDAQ: AMZN)
  • Alphabet (NASDAQ: GOOG)
  • Apple (NASDAQ: AAPL)
  • Costco (NASDAQ: COST)
  • Disney (NYSE: DIS)
  • Meta (NASDAQ: META)
  • Mastercard (NYSE: MA)
  • Microsoft (NASDAQ: MSFT)
Apr 20, 2023

Which stock is best to buy today under $200? ›

Stocks under 200
S.No.NameCMP Rs.
1.Varanium Cloud176.15
2.Nirman Agri82.95
3.Press. Senstive12.14
4.BCL Enterprises1.24
23 more rows

What are best value stocks to buy now? ›

Comparison Results
NamePricePrice Change
GM General Motors$33.57$0.71 (2.16%)
IBM International Business Machines$128.78$1.28 (1%)
PFE Pfizer$39.87$1.12 (2.89%)
ABBV AbbVie$143.68$1.22 (-0.84%)
5 more rows

What stocks to invest in for quick return? ›

Which Stock Is Best for Short-Term Investment?
  • Alphabet (GOOGL)
  • Amazon (AMZN)
  • Costco (COST)
  • The Walt Disney Company (DIS)
  • Dollar Tree (DLTR)
  • Las Vegas Sands (LVS)
  • UnitedHealth Group Incorporated (UNH)
  • Visa (V)
Feb 6, 2023

Which stock can make you a millionaire? ›

10 Penny Stocks That Will Make You A Millionaire
  • Zevia PBC (NYSE:ZVIA) Share Price as of January 6: $4.64. Number of Hedge Fund Holders: 3. ...
  • Trilogy Metals Inc. (NYSE:TMQ) ...
  • Matterport, Inc. (NASDAQ:MTTR) ...
  • Absci Corporation (NASDAQ:ABSI) Share Price as of January 6: $2.43. ...
  • Unity Biotechnology, Inc. (NASDAQ:UBX)
Jan 10, 2023

What stock will double in 2023? ›

7 Growth Stocks That Can Double in 2023
DRSLeonardo DRS$13.03
CURLFCuraleaf Holdings$3.97
RIOTRiot Platforms$5.64
3 more rows
Jan 11, 2023

Which stock to buy cheap? ›

Top Stocks Under Rs 20 in 2023
  • Yes Bank. Banking.
  • Vodafone Idea. Telecommunication.
  • UCO Bank. Banking.
  • Bank of Maharashtra. Banking.

Which stock to buy below $50? ›

S.No.NameProfit growth %
1.Andrew Yule & Co-118.32
2.Pion. Embroider.-90.53
3.KBS India-87.27
4.Nandan Denim-80.48
23 more rows

What to invest in when dollar is weak? ›

Investing in U.S. exporters, tangible assets (foreigners who buy U.S. real estate or commodities), and appreciating currencies or stock markets provide the basis for profiting from the falling U.S. dollar.

Which stock to buy under $300? ›

stocks under Rs. 300 giving dividends
S.No.NameCMP Rs.
3.S A I L82.60
4.PTC India92.95
23 more rows


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