Nvidia has performed amazingly over the past year. Since the start of 2023, it has risen an amazing 520%. However, that's not surprising for a cyclical company like Nvidia.

Nvidia sells a product once and then must sell another to continue driving sales. This can lead to a boom-or-bust environment. While this has worked for many companies for hundreds of years, it's not as repeatable as a subscription model.

So if you're looking for stocks for the long term, consider these three that are riding the same wave as Nvidia.

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Source Fool.com