Best Swedish stocks to buy as the OMX Stockholm 30 Rises

The Swedish stock market is doing well this year as the rally in European equities rise. The benchmark OMX Stockholm 30 (OMXS30) jumped to a high of SEK 2,556 (£187) in March. It has risen by more than 20% from its lowest point in December. This article looks at some of the best Swedish stocks to buy and hold.

OMX Stockholm 30 index chart

Investor AB

Investor AB is the second-biggest publicly traded company in Sweden with a market cap of over $73.35 billion. It is a historic company that is associated with the Wallenberg family, which owns some of the best-known firms in Europe. 

Investor AB has stakes in many publicly traded companies like Atlas Copco (the biggest Swedish company), AstraZeneca, Nasdaq, ABB, and Husqvarna Group. It also owns a big stake in EQT, the biggest private equity company in Sweden. 

Additionally, the firm owns Patricia Industries, which has invested in many privately owned companies in Sweden and other countries.

Investor AB’s stock price has been in a strong bull run over the years. Most recently, it jumped to a record high of SEK 267, higher than 2020 low of SEK 85.34. This performance happened as most of its portfolio companies did well.

There is a likelihood that Investor AB’s stock price will likely continue doing well in the long term, as I wrote in this report.

Spotify

Spotify (NYSE: SPOT) stock price has done well this year, which has helped to bring its market cap to over $58 billion. The company, which is listed in New York, is the biggest player in the music streaming industry.

Users love its user interface, which I believe is better than that of Apple Music. They also love its freemium model, which lets them listen to music for free with adverts. As a result, the company now has over 602 million monthly active users, a big increase from 489 million in 2022.

The number of Spotify’s free users moving to the premium package has risen from 205 million in 2022 to over 236 million. As a result, its revenue growth is continuing, hitting over 3.6 billion euros in the fourth quarter.

Spotify is a good investment because of its predictable recurring revenue, its strong market share in music and podcasts, and its growing profitability,

Atlas Copco

Atlas Copco is the biggest Swedish company with a valuation of over $78 billion. It is also one of the top industrial companies in the world. It manufactures a variety of products that are divided into four areas: compressor, vacuum, industrial, and power. 

Atlas Copco’s stock has done well, joining other industrial giants like Illinois Tool Works, Emerson Electric, and General Electric. This performance happened as demand for its products rose around the world.

For example, total orders received in 2023 jumped to SEK 170 billion from SEK 158 billion in the previous year. Its revenue rose to SEK 172 billion while its profit for the year soared to SEK 28 billion. Atlas Copco will likely continue doing well in the coming years as demand for its solutions rise.

The other top Swedish stocks to consider are EQT (a leading private equity firm), Assa Abloy, Boliden, and Evolution Gaming.