You may not be familiar with the term "biometrics," but you are no doubt aware of its applications – and what it means for personal and business security.
It's an industry that is also providing us a discounted, or "cheap," stock to buy today that could double your money in one year…
Biometrics, or biometric authentication, is a form of identification and access control. It includes fingerprint recognition, voice recognition, iris recognition, and facial recognition. And now Apple Inc.'s (Nasdaq: AAPL) iPhone 8 will include extremely sophisticated biometric technology.
But the stock to buy we're recommending today has a market cap that's 600 times smaller than AAPL and has triple-digit profit potential in the next 12 months.
You may already be using fingerprint biometrics in the last generation of smart phones from Apple, Samsung, and LG. And who has not heard of the voice recognition capabilities of Siri, Alexa, and "OK Google"?
As we become more comfortable with and more reliant on this technology, the demand for biometric security will skyrocket.
This Is Creating Billionaires: This technology is projected to grow 63,000% and create $7 trillion in new wealth. Will you be able to capitalize on these windfall profits? Read more…
In 2015, the biometrics industry was worth roughly $10 billion. But according to Grand View Research, by 2025, biometrics promises to be a $60 billion industry – a 600% increase in just eight years.
And that's conservative. A recent report from Research and Markets projects a compound annual growth rate (CAGR) of 23% over that same time frame, with the industry hitting $70 billion by 2025.
The safety issue is paramount, and it's the main reason we're recommending this "cheap" stock to buy today…
We've seen the news that company databases of sensitive customer information can become massive problems. Even some of the top companies in the country, such as Home Depot Inc. (NYSE: HD), have been attacked.
With biometrics, hacking is much more difficult and complicated, especially when confronted with features like fingerprint or iris scanners. Biometric devices, by their very nature, are much more secure than traditional usernames and passwords, and so the time to strike this niche is now.
Yet this sector is still very much under the radar. That means there is a great advantage for those who know how to invest in it sooner rather than later.
Plus, our top stock to buy today is trading at a 25% discount, making this the perfect time to strike…