Republicans now officially have their presidential candidate. Former President Donald Trump cruised to his third nomination at the Republican National Convention last week.

Less than four months remain before Americans go to the polls to cast their votes. However, it's not too soon for investors to begin considering which stocks might perform well under different presidential candidates.

At least one investor has started thinking about what the future might hold — namely, me. I predict these three stocks will soar if Trump wins in November.

1. Nucor

Trump has proposed an across-the-board 10% tariff increase on all imported goods. He has also spoken about imposing tariffs of at least 60% on all imports from China. While these tariffs would no doubt be highly controversial, I think Nucor (NYSE: NUE) could be a major beneficiary.

Nucor is a U.S.-based steelmaker. It faces significant competition from companies in China, which ranks as the world's largest steel-producing country. Heavy tariffs on Chinese imports would likely boost Nucor's sales significantly.

There's also another twist. Some Chinese steelmakers are investing heavily in producing steel in other Asian countries to avoid current U.S. tariffs on imports from China. The proposed 10% tariffs on imports from all countries could minimize the threat to Nucor that these efforts present.

Nucor is already attractively valued, with shares trading at a forward price-to-earnings ratio of 12.6. The potential for stronger earnings growth in a more protectionist environment could boost its profits and share price.

2. Halliburton

Chants of "drill, baby, drill" filled the arena hosting the Republican National Convention last week. They reflected the views of Trump, who has promised to boost domestic oil and gas production if elected to a second term. That should be music to the ears of Halliburton (NYSE: HAL).

The Texas-based company is a leading provider of products and services for the oil and gas industry. The company does everything from exploration to drilling to optimizing the production capacity of oil wells.

In 2023, 46% of Halliburton's revenue was generated in North America. Although higher tariffs could hurt the company's business in some markets, they would likely provide a positive overall impact.

Halliburton's stock hasn't been a big winner over the last 12 months. But I suspect it could be during another Trump administration, especially with shares currently trading at around 11 times forward earnings.

3. UnitedHealth Group

Look for a more laissez-faire approach toward healthcare with Trump than there would be with a Democrat in the White House. Medicare Advantage regulations would probably be less stringent. Such an environment would no doubt help UnitedHealth Group (NYSE: UNH).

The company's UnitedHealthcare segment is the largest provider of Medicare Advantage plans as well as the biggest health insurer in the U.S. Its OptumRx unit ranks as the second-largest pharmacy benefits manager in the country based on market share.

Fewer regulatory requirements for Medicare Advantage plans would potentially enable UnitedHealth Group to offer more products that appeal to retirees. Analysts at RBC Capital think the Department of Justice in a second Trump presidential term would relax its scrutiny on UnitedHealth Group's integration between its managed care and Optum health services businesses.

UnitedHealth Group stock recently hit an all-time high. But it's up less than 10% year to date. I expect a potential Trump victory in November could provide a solid catalyst.

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Keith Speights has no position in any of the stocks mentioned. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.

Prediction: These 3 Stocks Will Soar if Trump Wins in November was originally published by The Motley Fool