2 Hypergrowth Tech Stocks to Buy in 2022 and Beyond
Investing in tech stocks has been emotionally challenging this year as many of their stocks are getting hammered despite their associated businesses continuing to do well. The sentiment in the markets has been going against growth stocks that are still building out their operations and aren't yet profitable.
Once sentiment shifts and Wall Street evaluates tech companies based on their potential again, some of these otherwise high-quality businesses will again become stock market favorites. That means now is the time to evaluate these companies anew and put some cash in the stocks that have the potential to recover quickly. Two hyper-growth tech stocks -- Airbnb (NASDAQ: ABNB) and Confluent (NASDAQ: CFLT) -- look like bargains today for those with a long-term investing mindset. Let's examine why these two companies have lots of room to run.
Airbnb is coming off a hot first quarter when revenue soared 70% year over year to $1.5 billion and its net loss hovered near zero. It reported 102 million nights and experiences booked in its first quarter, which was up 59% year over year and up 26% over 2019 levels. AirbnbIt capitalized on the surge in travel demand, and the hospitality company expects to have an even more lucrative summer lined up.
Source Fool.com