There are now more than 80 million Millennials, born between 1982 and 2000 and ranging in age from their early 20s to their late-30s. This generation is the largest in history – bigger than even the Baby Boomers. According to our research, Millennials currently account for 24% of total U.S income – some $2.9 trillion in direct annual purchasing power, mostly representing older Millennials established in their work and families. The intersection of several trends – sustainability, healthier living, and an entrepreneurial spirit – has resulted in the emergence and growth of numerous companies well-suited to the millennial generation. The Argus Millennial Generation portfolio consists of 30 stocks that fit many of these themes. There are several new stocks on our new list, including:
Bio-Techne Corp. (TECH). This company is ahead of the Evolving Economy trend of biopharmaceutical outsourcing. We recently added this fast-growing mid-cap stock to our universe of coverage.
Lululemon Athletica Inc. (LULU). This company comes in as a Healthier Living company. It designs and sells athletic apparel, and markets its yoga-inspired clothing under the lululemon athletica and ivivva athletica brand names. It also sells fitness pants, shorts, tops and jackets designed for running and other sports.
Square Inc. (SQ). This technology platform company provides payment and point-of-sale solutions to merchants worldwide, including software that converts iPads into payment terminals. Square also provides CashApp, which allows consumers to send, spend, and store money on an app -- another new wrinkle in a Modern Lifestyle.
Uber Technologies Inc. (UBER). This company is a recent upgrade at Argus, and another Modern Lifestyle company that operates global networks for ride-sharing, carpooling, food delivery, and other services.
Ulta Beauty Inc. (ULTA) is a recent addition to coverage at Argus. This Popular Products company is a leading retailer of cosmetics and fragrances with a salon services segment specializing in hair styling and make-up.
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