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If you owned shares of Apple throughout the past decade, you are undoubtedly a happy investor now. Over the past 10 years, the tech giant’s stock has soared by a little over 950% — vastly outpacing the S&P 500‘s 196% gain in the same period. But all that growth means that Apple is now one of the largest companies in the world.
There’s no doubt the iPhone maker can keep finding ways to grow, and in my view, its shares are still worth buying. But given its market cap of more than $2 trillion, investors seekiong stocks with explosive, long-term growth potential may want to look elsewhere. Here are two stocks that fit the bill: DexCom (NASDAQ:DXCM) and Teladoc (NYSE:TDOC). Find out why these healthcare companies have a bright future ahead.
1. DexCom: Helping diabetes patients live better lives
DexCom develops continuous glucose monitoring (CGM) systems, which help diabetes patients perform an essential task — keeping track of their blood glucose levels. Whereas blood glucose meter (BGM) options can only measure a patient’s glucose level at the specific moments they’re taken, CGMs allow those with diabetes to track their blood glucose levels continuously, with alerts if the reading gets too low or too high. BGMs and their pesky fingersticks are also often painful to use, but CGMs aren’t.
The convenience of CGMs continues to help DexCom deliver great financial results. During its second quarter, which ended June 30, the company’s revenue grew by 34% to $451.8 million. DexCom attributed its top-line growth to increasing awareness of CGMs. The company’s GAAP gross margin also increased to 62.9%, up from 61.4%; non-GAAP gross profit grew to 64.1%, up from 61.4%. The higher revenue and higher gross profit led to a higher bottom line for DexCom. The company’s net income for the quarter was $46.3 million, after it recorded a $10.5 million net loss during last year’s second quarter.
DexCom makes the bulk of its revenue in the U.S., where there’s plenty of…