Amgen Proves Resilient Amid Market Volatility
The stock market has been resilient in recent years despite concerns over inflation and rising energy prices. However, there is always the possibility that economic challenges could drag equities into bear-market territory.
To prepare for such a scenario, investors may want to consider companies like Amgen (AMGN +0.01%). This biotech firm has proven itself capable of navigating market crashes with greater ease than most.
In 2008 and 2022, when the S&P 500 sank significantly, Amgen's stock actually gained value. The company's shares dropped during the pandemic in 2020, but it still managed to post solid financial results due to its strong portfolio of medicines.
Amgen markets lifesaving drugs that patients continue to use regardless of market fluctuations. Health insurance companies also cover most of the costs for these prescription medications.
The company's deep pipeline of attractive candidates, including MariTide and olpasiran, provides a promising outlook for future growth. Additionally, Amgen offers an excellent dividend yield of 2.6%, which can help smooth out losses during market downturns.