Could AbbVie Stock Help You Become a Millionaire?

If you want an investment to make you a millionaire, you need three things. The first is some decent money to invest in the stock market, ideally at least $20,000. The second is time and patience -- big returns don't come quickly unless you're taking on significant risks. The third is an above-average return, which comes from owning a solid growth stock that can beat the market over the long haul.

Could (NYSE: ABBV) be that stock for you? It is one of the largest healthcare companies in the world, and its revenue has grown by more than $20 billion since 2019. Can this growth-oriented business help you achieve market-beating returns and get your portfolio to more than $1 million?

Investors are discounting AbbVie's stock today, and that can be a huge advantage for growth investors looking for a stock to hold on to for the long haul as it could help secure big returns later on. AbbVie shares are only trading at 12 times its estimated future earnings, which is a big discount to the 19 times forward price-to-earnings multiple that the Health Care Select Sector SPDR Fund averages right now.

Continue reading

Source Fool.com