Favourite stocks in 2026? Alphabet, Tsmc, Microsoft, Merck, Essilorluxottica and Novo

The stocks to pack for 2026 should be selected by following certain trends. Roberta Gastaldello of Capital Group identifies three: artificial intelligence, industrial renaissance and healthcare innovation. In the first her first choice is Broadcom well positioned by the secular advantages of semiconductors. 'The stock is a leading provider of customised AI chips and networking solutions for high-speed AI workloads,' explains Gastaldello, 'supporting the building of hyperscaler data centres. The theme of industrial renaissance is driven by multi-year trends, paving the way for a supercycle of investment such as that affecting Rolls-Royce, which operates in a duopoly in the wide-body aircraft engine market, supplying engines for commercial aircraft and military platforms, and benefiting from higher European defence spending. In a golden age for healthcare innovation, with companies developing new drugs and platform technologies to cater to large and underserved markets such as obesity and cancer EssilorLuxottica is a world leader in vision care and is transforming itself into a vertically integrated medical device company.

In the big chapter of tech stocks Gianluca Ungari of Vontobel Institutional Clients points to Alphabet (also liked by Tikenau and Shoeders) exposed to the strong global investment cycle in AI and digital infrastructure. The recent release of Gemini 3 reaffirmed Google's competitive positioning, which has exceptional strength in terms of cash generation and growth prospects.

Bcc Risparmio&Previdenza's first choice is the Taiwanese giant Tsmc (also liked by Pictet and Carmignac) which, thanks to its solid technological leadership, has a high degree of pricing power, plus the "fabless foundry" model with diversified clientele (Apple, Nvidia, AMD and Microsoft), so much so that it is immune to sector cycles and has AI-neutral exposure to rivals. Then there is Amazon exposed to artificial intelligence with AWS and the fiscal stimulus and consequent increase in consumption.

While many mention Microsoft (including Banca Patrimoni Sella), AcomeA points to Adobe, the Californian company famous for creating the Pdf format. "Today the stock is trading at 14x earnings in 2026 with expected revenue and profit growth around 10%," AcomeA points out, "and management continues to hit the guidance it proposes and net new annual recurring revenues are accelerating again. In short, good fundamentals that the market does not appreciate today'. In second place is Samsung, which is poised for strong profit expansion in 2026, with forecasts showing operating profit more than doubling as the memory market recovers and Dram and Nand prices rise. In addition it has a 450 trillion won maxi-investment plan that will further strengthen production capacity for AI and the mobile division ready to expand share in the ultra-premium segment with new smartphones.

AcomeA among industrials suggests Ala Avio as a leader in two promising verticals such as aerospace and defence. Gianluca Ungari of Vontobel believes that Siemens is a potential pick-up in European industry with Germany having announced an unprecedented public spending plan focused on infrastructure, energy and manufacturing modernisation. Francesco Sandrini, Cio at Amundi Sgr, suggests looking in the US at Starbucks, which is engaged in a restructuring in the consumer sector after underperforming in the last 2-3 years while in Italy there is Campari whose share price has halved in the last two years following concerns over alcohol consumption that have affected valuations in the sector. Janus Hendersen's Sabrina Denis' first choice is the Canadian company Celestica, originally a subsidiary of Ibm in the 1990s, which has grown both organically and through strategic acquisitions to become a global player, with manufacturing operations in 15 countries, and a leader in components for the aerospace, healthcare and renewable energy industries. Then there is Sterling Infrastructure, the leading provider of specialised infrastructure in much of the United States, of which digital infrastructure is the fastest growing segment. Alessandro Guzzini of Finlabo emphasises the potential of Repsol with very low valuations in the face of a possible rise in oil prices; Rio Tinto, the world's third largest mining company due to its exposure to copper and other commodities; and Germany's Bmw, which could benefit from the cyclical recovery of the auto sector due to falling rates. While among banks Bcc Risparmio&Previdenza points to AbnAmro which should show progress on both capital and costs in 2026 with revenues recovering, Eurizon in luxury suggests Lvmh and Honeywell in energy.