According to USA Today, many Millennials are steering clear of the stock market, favoring more conservative approaches towards saving for their retirement.

Research has demonstrated that just 9% of Millennials characterize themselves as investors, while 46% characterize themselves as savers.

[ad#Google Adsense 336×280-IA]The remaining 44% characterize themselves as spenders and are doing little to plan for their retirement years.

Millennials have no reason to fear the stock market, and those who do step into the area can find worthwhile stocks to buy in Amazon.com, Inc. (NASDAQ:AMZN), Calavo Growers, Inc. (NASDAQ:CVGW) and Netflix, Inc. (NASDAQ:NFLX).

Here’s a look at why younger investors might find these to be profitable stocks to buy for their burgeoning portfolio — and why Millennials’ habits might be worth paying attention to for older investors as well.

Stocks to Buy for Millennial Investors: Amazon (AMZN)
Amazon is a great choice for Millennials, since its history of strong growth demonstrates that occasional drops are not something to be overly concerned about.

After all, after hitting highs over $670 late in 2015, AMZN stock dropped to around $500 per share in February 2016, down roughly 25%.

By fall of 2016 it had made up the drop and then some, reaching over $840 before hitting another trough in November. Earlier this month, Amazon finally eclipsed the $1,000 mark.

Amazon’s e-commerce business has taken the retail industry by storm, and brick-and-mortar stores such as Wal-mart Stores Inc (NYSE:WMT) are struggling to keep up.

With Amazon’s recently announced acquisition of Whole Foods Market, Inc. (NASDAQ:WFM), the company has become even more of an existential threat to other retail giants. Amazon acquired Whole Foods in an all-cash, $13.7 billion deal. Research has shown that Amazon is the key shopping destination for Millennials, who are the largest generation with many just coming into their prime earning years.

This bodes well for Amazon’s continued growth and success, translating into potential profits for investors.

Stocks to Buy for Millennial Investors: Calavo Growers (CVGW)
Calavo Growers may be another good investment choice for Millennial investing.

The company grows and sells avocados and other fruits and distributes freshly prepared foods to restaurants and grocery stores.

Avocados have become the rage among the Millennial set, with many people in the age group purchasing such trendy fare as avocado toast.

The trend is so large that an Australian property mogul, Tim Gurner, made a splash on the internet when he opined that the reason that Millennials were slow to buy homes was that they were spending so much money on avocado toast. The backlash was swift with many people posting criticism online of the millionaire.

The love that Millennials have for avocados could help Calavo Growers continue to, well, grow, and investors in it to enjoy profits as well. It has analysts expecting annual earnings growth of more than 20% over the next five years. And a recent surge in avocado prices can’t hurt either — it has helped the stock rise 13% year-to-date.

Stocks to Buy for Millennial Investing: Netflix (NFLX)
A recent study that was completed with college students showed that 92% had Netflix accounts.

Another survey that was performed with teenagers showed that a majority prefers Netflix over cable and Alphabet Inc’s (NASDAQ:GOOG, NASDAQ:GOOGL) YouTube as their go-to video-watching platform.

People under age 30 are also 30% more likely to invest in Netflix than are people who are over 30. With so many people who are Millennials and younger having Netflix accounts and preferring it as their platform, the future for the company appears bright.

It’s also worth remembering that Netflix keeps coming out with massively popular original series, such as Orange is the New Black, which help NFLX secure a loyal following of millions of regular viewers.

While Millennials are largely hesitant as a group to invest, they should strongly consider doing so. They are much likelier to grow their invested funds over time than they are the money that they simply put into savings. When Millennials choose to purchase stocks in the companies with which they are most familiar and that are the most popular among their age group, they may have more confidence that their investment choices will be profitable.

Likewise, older investors should also consider investing in the companies that are the favorites among the largest generation since the Baby Boomers.

— Dan Dion

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Source: Investor Place