3 Growth Stocks to Buy and Hold Forever
Finding compelling growth stocks is not difficult in today's market. However, finding growth stocks you can buy and hold indefinitely is a different story. Their underlying companies should be industry leaders capable of adapting as needed, and the industries they're in should always be in demand.
Here are three growth picks you can consider:
1. ULTA BEAUTY (NASDAQ: ULTA)
Ulta Beauty is a beauty retailer facing competition from Sephora. However, Ulta's strengths include its ability to adapt its product lineup, its strong e-commerce operation, and its membership/rewards program. The company is expected to benefit from the economic recovery and increased discretionary spending on beauty goods.
2. AMAZON (NASDAQ: AMZN)
Amazon is a dominant e-commerce platform and cloud computing service provider. The company is still growing and evolving, with initiatives such as retail media and improving the appeal of Amazon Web Services. Amazon's strong brand recognition and resources position it well for long-term growth.
3. NIKE (NYSE: NKE)
Nike is the world's leading athletic wear brand. The company has faced challenges in recent years due to its shift away from retail partners and supply chain issues. However, Nike remains a strong brand with a loyal customer base and plenty of potential for a turnaround. The company's upcoming innovations and marketing efforts could drive future growth.