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ResMed’s sales and profits got a boost during the pandemic from a sharp rise in demand for its ventilators and other respiration devices. Even when the pandemic eased, the gains continued as the company introduced more products and expanded its software offerings. Today, ResMed’s outlook remains attractive—and not just because of its CPAP machines.

Those devices designed to treat sleep apnea get far less media attention than other devices focused on a host of issues, from high blood pressure, obesity and diabetes to depression, stroke and heart problems. Still, increasingly, public and private health insurers recognize, publicize and pay for sleep apnea treatment. That’s because untreated, it can lead to several complications requiring much more costly treatment.

People who are only vaguely familiar with sleep apnea may think of it as a disease of the elderly, but it can strike anyone, children included. We think this discrepancy in awareness creates a great long-term opportunity for ResMed. In fact, the stock is up more than 86% since we added it to our Power Growth Investor newsletter in July 2019. Going forward, however, we still see the stock as an attractive special situation, with significant room to move higher.
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CANON INC. ADRs $28 (www.canon.com) is a hold. The Japanese conglomerate is a leading maker of printers, copiers and other office equipment. Its other products include digital cameras and parts for TVs and medical gear. While the outlook for its specialty imaging products remains strong, sales of digital cameras continue to suffer as consumers use their smartphones to take pictures. Consumers now also store photos on cloud platforms instead of printing them. Even so, the dividend, which yields 3.8%, looks safe.
Alcoa’s shares moved up after the U.S. and Israeli strikes on Iran. That’s because the Middle East supplies about 9% of the world’s aluminum. While prices are likely to retreat in the next few months, Alcoa’s outlook remains strong on rising infrastructure development, particularly in China and India. That should spur aluminum demand for years.
NEWMONT CORP. $102 remains a buy for long-term gains. The world’s largest gold mining company (New York symbol NEM; Aggressive Growth Portfolio, Resources sector; Shares o/s: 1.1 billion; Market cap: $112.2 billion; Price-to-sales ratio: 4.7; Dividend yield: 1.2%; TSINetwork Rating: Average; www.newmont.com) is down 24% from its recent peak of $135 in January 2026. That’s mainly due to the 14% drop in gold prices since the start of the Iran war. The conflict has pushed up oil prices and inflation, which could prompt central banks to raise interest rates. Higher rates make cash and bonds more attractive than gold.