These Pricey Stocks Are NOT Overpriced
Everyone loves a $5 stock that doubles, including me. But right now
I'm finding some of the
best stock picks
are trading in the $100 range. Don't make the mistake of thinking a
$100 stock is expensive. With growth rates going through the roof
and strong buying pressure, these stocks should prove to be
bargains at current valuations.
Here are five bargain stocks trading above $100:
I first recommended
) in October 2009 when shares were nearly $190 apiece! I'm sure
there were people out there who thought I was crazy, but with the
launch of the Phone 4 and the iPad since, and shares now trading
around $340, crazy like a fox is more like it!
I still like the company at current prices and would recommend
it for purchase in just about any portfolio.
Buy AAPL under $345.
) in my
Blue Chip Growth
service back in June 2009, when shares were about $83 a share. This
may have seemed like a pricey stock in a sector that many were
writing off - online retail - but I saw the potential for the
company to grab customers looking for a bargain. And boy has that
The stock is up 122% for my subscribers and even with shares
trading around $185 right now, I still think the company has a
bright future. Buy under $196.
Movie rental company
) has developed an ingenious business model built around the idea
that individuals don't want to leave their houses in order to rent
a movie. Instead, Netflix sends movies directly to consumers;
through the mail … people walk no further than their mailboxes to
rent DVDs. Netflix says that it ships around 2 million DVDs every
day. It also streams thousands of movies directly to subscribers
through their computers and video game consoles at no extra charge.
Netflix caters to the "inner couch potato," and since we all have
that potato inside of us to some degree, it should come as no
surprise that the company boasts more than 12 million
NFLX currently trades at about $188.
Buy AMZN under $202.
Novo Nordisk (
) is one of the world's leading producers of insulin. The company
also makes insulin injection devices and diabetes education
materials. Its products include Levemir and NovoLog (which mimic
natural insulin regulation more closely than human insulin) and
FlexPen, a prefilled insulin injection tool.
In addition to its diabetes portfolio, Novo Nordisk also has
products in the areas of blood clotting management, human growth
hormone regimens and hormone replacement therapies.
Forward growth estimates are compelling, and that's why this
$114 stock is still a buy.
Buy NVO under $117.
Millicom International Cellular (
As you can probably guess by the name,
Millicom International Cellular
) provides cellular phone service. It has more than 23 million
subscribers in 16 emerging markets. These are subscribers who
typically have limited landline exposure because of a lack of
infrastructure. Millicon's core market is Latin America, where it
does approximately 75% of its business, but the company also has
cellular operations and licenses in countries in Africa and
Nearly all of Millicom's subscribers are prepaid wireless
service users. This gives the company a great opportunity to upsell
its products to this new customer base and ensure growth for the
MICC is trading just under $100 right now and I'm betting that
it will cross the $100 threshold and more in the weeks to come.
There's still time for you to grab your share of the profits in
Buy MICC under $120.