HOW TO PLAY IT

According to Ashley Woodruff

Chipotle Mexican Grill and Domino’s Pizza survived and thrived during the pandemic because they went into it armed with the best smartphone ordering apps. Chipotle’s 24 million loyal digital buyers punch in 50% of total orders today, up from 20% prepandemic, and love the exclusivity of digital-only items like the quesadilla and keto bowl. Domino’s, meanwhile, has 27 million app users, who account for 70% of sales (up 13% in 2020 to $16.1 billion). Domino’s has 36% of the domestic pizza-delivery market and has boosted ticket sizes by adding chicken and dessert items. Both have room to grow overseas. Domino’s trades at 40 times trailing earnings, Chipotle at 94 times. Don’t be put o by rich valuations, says Ashley Woodru , associate portfolio manager of T. Rowe Price’s Midcap Growth Fund. Post-pandemic, pro ts will pop.