3 Stocks to Consider Adding to Your April Retirement Portfolio

At the moment, the market may seem a bit fickle, especially in the context of the economy where it has been. But you don't have to worry too much. Stocks have a funny way of looking impossible. Besides, in just one year, what happens in April 2024 won't matter so much.

In other words, don't be afraid to take some new long-term positions at this time. Just choose wisely (as always).

Next, we will look at three promising stocks which may prove particularly suitable for post-retirement investment.

1. Amgen

Most people have heard of drug companies.Amgen (name)firms(NASDAQ resonance code: AMGN)However, most investors would be hard-pressed to say which drug it produces. However, most investors would be hard pressed to identify which drugs it produces - the company is not known to be "big" in terms of research and development or acquisitions. As a result, of its twenty or so drug formulations, the two best-selling ones each accounted for only 151 TP3T of the company's sales, while the others accounted for no more than 81 TP3T.

But this is not a bad thing. It's a good thing. Amgen is a diversified company! Not many other drug companies can do that.

This is not to say that the drugmaker does not face the basic challenges faced by its competitors. It does. Chief among these challenges is the never-ending expiration of patents. Drug companies have to keep enriching their R&D pipeline and updating their drug formulations. Just a few years ago, Amgen was often criticized for its seeming lack of R&D.

However, that has since changed, but the company and its stock have not received enough credit for it. For example, the company's recent acquisition of Horizon Therapeutics, which provides its new owner with Tepezza, a drug for thyroid eye disease, and Krystexxa, a drug for gout, has been steadily bolstering its in-house research and development pipeline, so much so that analysts at BMO Capital upgraded the stock to "outperform" late last year, particularly because of its "outperform" rating. So much so that analysts at BMO Capital upgraded the company's stock rating to "outperform" late last year, particularly because its Koon line wasn't getting enough attention. The upgrade echoed the optimism of analysts at Leerink Partners a few months ago.

The point is that although a February report on Amgen's development of the anti-obesity drug MariTide initially failed to impress investors, it is now starting to get more attention. The treatment is similar toNovo NordiskCompany (Novo Nordisk) of Wegovy and Eli Lilly and Company (Eli LillyMariTide is very different from popular anti-obesity drugs such as Zepbound. MariTide is also injected less frequently, although it appears to be less effective than the other drugs at the start of use, but the benefits of Amgen's drug appear to continue after the drug is discontinued.

In total, there is more to Amgen than meets the eye. The stock has fallen from its January highs, creating a buying opportunity.

2. Uranium energy

Amgen is not the only company to consider stepping in when the stock price is falling. In addition, theUranium energyfirms(NYSEMKT: UEC)'s stock price is still 16% below its February peak, it's also a good idea to keep an eye on the company.

This is interesting. So far, the global shift from fossil fuels to renewable energy has been focused on solar energy. And rightly so. Solar energy is reliable and becoming more affordable.

But there is also a not-so-new option that is regaining some of its lost popularity. That's nuclear energy. While accidents like the 2011 meltdown at Japan's Fukushima nuclear power plant have cast a dark shadow over the industry, such problems are the exception. Today, most nuclear power plants operate safely and cleanly. As a result, according to the World Nuclear Association, about 60 nuclear power production facilities are currently under construction, and 110 more are planned for the future.

Since these nuclear power plants require fuel, uranium in particular.

Enter Uranium Energy Corporation. As the name implies, it is a uranium supplier with a number of operating uranium plants, most of which are located in the United States. It is one of the largest uranium suppliers in the world.

Although the rise of solar power, the advent of natural gas fracking, and the uncertainty of fossil fuels have brought years of turmoil to the nuclear industry, the dust is finally beginning to settle. The fact is, we still need uranium, and we need more and more of it. That's why the price of uranium has nearly tripled in the last three years alone.

Uranium prices are unlikely to continue to rise at the current rate. However, as the world gradually reduces its use of fossil fuels, uranium prices arevery muchIt is likely to remain near current levels. This is good news for long-term investors interested in this oft-neglected stock, which analysts say is worth nearly 50% more than its current price.

3. Snowflake Beer

And last but not least, consider bringing in theSnowflake (NYSE: SNOW)Join your Retirement Portfolio.

In simplest terms, Snowflake helps organizations store and utilize digital data when they can't (or don't want to) build such solutions for themselves. For example.The Walt Disney CompanyIt's Snowflake's customers, relying on Snowflake.DisneyThe digital advertising business has become more effective. Credit card companiesMasterCard(and drug makers)SanofiOther potential uses of the Snowflake platform include cybersecurity applications, production process improvement, and even personalized investment planning. In the cloud database management market, Snowflake faces bigger competitors. However, Snowflake maintains an edge over these larger companies.

Demand has been fueled by the growth of cloud computing and artificial intelligence, but the company's business is only just getting off the ground. Analysts see sales growth reaching 22% this year and accelerating slightly next year. The bright spot for Snowflake, however, is the profit side of the noodle. As the model continues to expand, Snowflake's bottom line is expected to begin to stabilize at a healthier pace.

Keep in mind that of the three stocks highlighted here, Snowflake is the most aggressive and risky, especially for a retirement portfolio. It's certainly not the kind of stock around which you'd want to build the foundation of your entire long-term investment portfolio.

However, considering that the share price is still down 60% from its 2021 peak, the potential compounding of Snowflake's above-average risk is justified for a small group of investors seeking long-term growth.

Should you invest $1,000 in Snowflake now?

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*Stock Advisory Rates as of April 4, 2024

James Brumley does not own any of the stocks mentioned above.The Motley Fool holds and recommends Mastercard, Snowflake, and Walt Disney.The Motley Fool recommends Amgen and Novo Nordisk, and recommends the following options: Long Mastercard Jan 2025 $370 Calls, Short Mastercard Jan 2025 $380 Calls. The Motley Fool recommends Amgen and Novo Nordisk, and recommends the following options: Long MasterCard January 2025 $370 Calls and Short MasterCard January 2025 $380 Calls. The Motley Fool has a disclosure policy.

3 Stocks to Consider for Your Retirement Portfolio in April was originally published by The Motley Fool.