The company was always a big player in vaccine distribution, but it became the government’s top distributor for COVID-19 vaccines, delivering around 1 billion doses. In fact, according to Fortune, McKesson is the seventh-largest corporate in the United States. Pharmaceuticals, health tech, and medical supplies. Whether the economy is boom or bust, people need medical care, and McKesson is responsible for a lot of it they deliver around 33% of pharmaceuticals used on this continent. In late 2022, McKesson announced an agreement to extend its partnership with CVS Health to “distribute pharmaceuticals to mail order and specialty pharmacies, retail pharmacies and distribution centers through June 2027.” (NYSE: MCK) stock will end 2022 up roughly 50% - and it could continue to rally through 2023.
Plenty of companies are down 50% from their highs, but McKesson Corp. Here’s what we recommend buying now to boost your wealth during what’s coming… The Five Best Recession-Proof Stocks to Buy for 2023 Best Recession-Proof Stock to Buy Now: McKesson Corp (NYSE: MCK) I’m talking about companies that pay big dividends and those that actually thrive amid runaway inflation. I’m talking about energy, semiconductors, and pharma. These kinds of companies historically thrive during even the harshest recessions because none of us can live without what they do or make. The companies that make the “stuff” society needs for daily life. The smart move to make for 2023 is still in the stock market – not at the companies that make headlines, but the companies that make the things none of us can live without. Those companies are in an increasingly deep hole as the interest rates they pay on their insane debt becomes lethal. Putting your faith in the Big Tech darlings that led the bull market would be an even bigger mistake. Investors feel like their backs are against the wall, and for good reason we’re already in a bear market in the United States… and the recession technically hasn’t started yet.īut going to cash would be a mistake – if only because that cash will lose nearly 10% of its value every year. The Fed means to stop inflation in any way it can, and if that means hurling the United States (and, let’s face it, most of the world) into a recession, then that’s just what it will do. Fed Chair Jerome Powell confirmed the pace of interest rate hikes is set to slow in 2023, but that’s a far cry from stopping the hikes or loosening policy. The Federal Reserve continues to raise interest rates into a weakening stock market and softening economy. The stock market is way down over the past year – the NASDAQ Composite is off nearly 30% and the S&P 500 is down almost 20% as of early December 2022.
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