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  • Writer's pictureIshfaaq Peerally

3 STOCKS I'm BUYING in AUGUST 2023



As an experienced investor, I'm constantly scanning the market for stocks that offer promising returns. This August, I've identified three stocks that I believe are poised for growth and could be valuable additions to any investment portfolio.


Skyworks Solutions


First on my list is Skyworks Solutions, a significant player in the 5G and IoT sectors. This cyclical stock has been on my radar since 2019. Despite the market's recent fluctuations, I'm convinced that Skyworks Solutions is currently undervalued and presents a great buying opportunity. The company's role in enabling network connectivity across a range of devices solidifies its position in the tech industry, and I'm confident in its long-term growth prospects.


Autozone


Next up is Autozone, a slow-growing stock that has caught my attention due to its unique approach to generating and returning cash flow to shareholders. Autozone's focus on share buybacks, coupled with its position in the auto parts industry, makes it a resilient investment choice. With the current economic situation leading people to keep their cars for longer, the demand for auto parts is likely to increase. This trend presents a potential catalyst for growth for Autozone.


Spectrum Brands


Despite its recent dip in popularity on Wall Street, I see Spectrum Brands as a promising investment. The company's diversified portfolio, with a focus on pet care, home and garden, and home and personal care sectors, positions it well for steady growth. The company's recent sale of its Home Improvement business has also resulted in a significant cash position. I believe this will be used to buy back shares and repay debt, further strengthening its financial position.


In my investment strategy, I always emphasize the importance of digging deeper into a company's financials, beyond the surface-level numbers. These three stocks, in my view, present a compelling investment opportunity for August 2023. I'm excited to see how they perform and contribute to the growth of my portfolio.


Remember, investing always comes with risks, and it's important to do your own research and consider your financial situation and investment goals before making any investment decisions. Happy investing!

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