There are always opportunities available in the market. Even amid the current COVID-19 pandemic, there are businesses poised to emerge stronger from the turmoil -- and deliver handsome rewards to their investors.
Here are five great stocks that can help you preserve and build your wealth during these challenging times.
1. Gilead Sciences
It's hard to not start with the company that could help speed progress in defeating the coronavirus pandemic: Gilead Sciences (GILD -2.19%). The biotechnology titan's experimental antiviral drug remdesivir has the potential to become a new standard of care for COVID-19 patients. Recent clinical trials suggest that remdesivir could help people suffering from the disease recover faster. If further testing shows the drug to be safe and effective, Gilead could have a powerful new growth driver to add to its already impressive portfolio of drugs.
2. Quest Diagnostics
In addition to antiviral treatments, there's a dire need for effective testing solutions in the U.S. and other countries. To help alleviate shortages, clinical laboratory giant Quest Diagnostics (DGX -1.55%) is ramping up its capacity to process COVID-19 tests. It also recently rolled out antibody tests that people can order online to see if they've been exposed to the novel coronavirus. By helping to meet the urgent need for COVID-19 tests, Quest is helping to slow the spread of the deadly disease.
Cleaning products that can help people sterilize their homes are also in high demand during the pandemic. Buying shares of Clorox (CLX -3.57%) is a great way to profit from surging sales of its bleach, hand sanitizers, and disinfectant wipes. With effective cleaning procedures now of paramount importance during a health crisis that could span many months, Clorox's revenue and earnings are likely to remain elevated for the foreseeable future.
Costco (COST -1.40%) is experiencing sharply higher sales as people stock up on food and other household essentials during the coronavirus pandemic. Costco, with its low prices on bulk goods, is often the first place its members turn to when they need supplies. By serving as a lifeline for its customers during these difficult times, Costco is likely to be rewarded with even higher membership renewal rates -- and a corresponding jump in profits -- in the quarters ahead.
Perhaps no company stands to emerge stronger from the COVID-19 crisis than Amazon.com (AMZN -1.57%). The e-commerce juggernaut's revenue leapt 26% year over year -- to $75.5 billion -- in its recently disclosed first quarter, fueled by strong sales of groceries and other pandemic-related supplies. Additionally, Amazon Web Services surpassed $10 billion in quarterly revenue for the first time, as more businesses relied on its cloud infrastructure platform to power their operations. With many people forced to stay home due to social distancing directives, Amazon's e-commerce and cloud services should continue to grow at an impressive clip in the coming months.