The strong economy is spurring more excitement, and you should snap up stocks that could be the next trillion-dollar companies. The positive future of the U.S. government is highlighted by robust economic indicators, such as the creation of 353,000 jobs in January, which exceeded expectations and demonstrated sustained economic momentum. President Joe Biden’s administration has seen encouraging reports covering GDP growth, declining inflation, and rising consumer confidence. With unemployment remaining below four percent for nearly two years, the U.S. economy is positioned strongly, contributing to an optimistic outlook for the government’s future. Investing is a must-do. You need to take advantage of the ongoing strong markets and profit from these possible next trillion-dollar companies.

Next Trillion-Dollar Companies: Broadcom Inc (AVGO)

Broadcom Inc (NASDAQ:AVGO) is an American developer and manufacturer of semiconductor software and infrastructure. Offering a variety of products, Broadcom has amassed a valuation of $1,243.10, with a YoY valuation growth of 102.11%.

With a recent surge in semiconductor demand, the overall market is expected to increase. In 2022, the industry grossed $573.44 billion in revenue, projected to jump to $1.380 trillion in 2029.

Financially, AVGO displayed strong economic pillars in their October 2023 quarter, growing in every key metric. Starting with revenue, AVGO reported $9.29 billion, a YoY growth of 4.09%. Further, net income and diluted EPS saw secure increases, bringing in $3.52 billion and 8.25, respectively, or YoY jumps of 4.91% and 14.74%. A trend of green across the board was reported for Broadcom all through fiscal year 2023, and projections forecast a similar trend for 2024.

Largely, look to Broadcom’s expansion of their VMware software and integration as a focal point in their stock growth. At the start of the year, Broadcom announced they would begin to integrate VMware into their capabilities, improving processing, storage, and overall performance of hardware services under their tech. At the same time, Broadcom is emphasizing AI as a full priority for its technologies and growing AI models. With partnerships with IBM (NYSE:IBM) and Intel (NASDAQ:INTC), we expect Broadcom to see an increase in productivity this year. Thus, it is one of my top picks as a contender for one of the next trillion-dollar companies.

Fortinet Inc (FTNT)

Fortinet Inc (NASDAQ:FTNT) is a cybersecurity company. It specializes in firewalls, with its FortiGate line being its main product and source of revenue.

FTNT is up 14.38% YTD, indicating healthy growth. Many analysts rate the stock between a ‘buy’ and ‘hold.’

Fortinet sales growth has been consistently impressive. Growing from 3,342 million USD in 2021 to 4,417 million USD the following year, sales growth in 2022 was 32.17%. The company has demonstrated healthy finances, with net operating cash flow growing by 15.4% in 2022 from the previous year, showcasing its ability to generate cash flow from its daily operations. Fortinet has also been growing its assets, with total assets growing 5.22% in 2022.

Fortinet’s key catalyst is its premium-quality yet cost-effective firewalls. The company has made considerable innovations to its product line. For example, it announced the industry’s first Wi-Fi 7-enabled secure networking solution. This places Fortinet above its competitors, or as Chief Marketing Officer of the firm John Maddison says, “Fortinet is the only vendor converging networking technology and AI-powered security into a single, holistic solution to connect and protect the wired and wireless LAN.” Fortinet is a great choice for investors looking for tech stocks to buy.

JPMorgan Chase & Co (JPM)

JPMorgan Chase & Co (NYSE:JPM) is a financial services firm and is the largest bank in the United States. Its stock has a valuation of $174.73, which is 25.76% more than last year.

JPM thrives in every financial metric, whether profitability, valuation, or growth. This is displayed by its various financial arrays, including its Net Income Margin (TTM) of 33.94%, which is 45.30% more than the sector median. Revenue Growth (YoY) was also lofty at 19.36%, which, compared to the measly 4.47% sector median, is 332.78% bigger. Price / Sales (TTM) is nearly 32.71% more than the median, and Price / Book (FWD) is 45.02% more. These metrics differentiate JPM from its competitors while showing an investor that it will continue growing quickly, making it incredibly valuable and profitable.

JPM purchased and bailed out First Republic Bank on May 1, 2023, and that acquisition allowed it to raise interest rates, thus causing its financials to skyrocket. Chase has a respectable reputation, and due to its large display of services ranging from auto loans to mortgages and its broad selection of credit cards, it isn’t a surprise that it is America’s leading financial service. Its reputation will only continue growing along with its branches, which are easily accessible nationwide. Overall, as Chase’s financials, services, and locations grow, its valuation will follow through, and with an increase in sales, it is only a matter of time before it becomes one of the next trillion-dollar companies.

On the date of publication, Michael Que did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.