Broader equities narrowly escaped a bear market in 2025 and ultimately performed well. Will the market be so lucky again in 2026? Nobody knows for sure. Broader macroeconomic concerns and other factors could lead to an economic recession, a market crash, or both. But then again, many said the same thing last year.
While you can't predict the future, you can prepare for various possible outcomes. And if there is a market crash this year, it'll be worth it for investors to consider putting their money into companies that can survive it and perform well long after. Here are two great candidates: Microsoft (MSFT 0.48%) and HCA Healthcare (HCA +1.19%).
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1. Microsoft
When recessions occur or the market enters bear territory, investors tend to shift their focus to defensive sectors, such as healthcare and utilities. The logic of this move is sound.
Defensive companies offer products and services where demand remains relatively stable, regardless of market conditions. So their revenue and earnings don't dip as much as those in, say, cyclical sectors. Microsoft is a tech leader -- it doesn't belong to a defensive industry. However, there are three excellent reasons to buy the stock anyway, even in the event of a market crash.
First, as far as tech stocks go, Microsoft is about as defensive as they get. Its products are relied on by millions of individuals and businesses for their day-to-day activities. That includes the company's operating systems and productivity tools. These come with high switching costs, too, which lock in consumers, even when the going gets rough.
NASDAQ: MSFT
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Second, even if the demand for some of its services within its cloud division slows during recessions or market downturns, the company has a rock-solid balance sheet and can navigate any challenging period. Microsoft has the highest credit rating available -- even higher than that of the U.S. government. The company won't have any trouble meeting its obligations, regardless of what's going in with broader equities.
Third, buying Microsoft on the dip during a downturn would be a great idea, considering the company's long-term prospects. Microsoft is a leading player in cloud computing and artificial intelligence (AI). It has been riding that tailwind in recent years and has consistently delivered solid financial results.
However, there's still considerable growth potential. Looking back, investing in Microsoft during market crashes has usually been a good idea. The 2020 bear market bottomed out in late March 2020. Since then, Microsoft has delivered terrific, above-average market returns. If there's yet another downturn this year, investors should see it as an opportunity to buy the stock.
2. HCA Healthcare
Microsoft may not be a defensive stock, but HCA Healthcare is. The company runs a large network of healthcare facilities across the U.S. and is one of the leaders in this niche. Patients won't stop demanding medical services in the event of a market crash, nor will physicians suddenly cease meeting that demand. What's more, much of the money used to pay for these services doesn't come directly out of the pockets of patients.
Third-party payers -- private and government -- foot a lot of the bill. That allows HCA Healthcare to maintain somewhat consistent financial results. It should navigate any market crash just fine and continue performing well long after. One reason is that over the long run, there's expected to be a rising demand for healthcare services and increased spending in the sector. Several factors should drive this trend.
NYSE: HCA
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First, important technological and medical breakthroughs enable physicians to treat previously untreatable diseases or improve outcomes in areas where therapy options are available. These breakthroughs aren't cheap, though. Second, the world's aging population will lead to a higher demand for medical care, since people require more of it in their golden years.
Third, HCA Healthcare's strategy has proven highly effective in the past, and there are good reasons it will continue down that path. The company has invested heavily in acquiring the best technology to improve patient outcomes, for instance, an initiative that has helped it grow its market share over the past 15 years or so.
HCA Healthcare still has plenty of growth on the horizon, and a market crash likely won't change that. The stock would be a great buy if we do see a bear market this year.
