3 Growth Stocks to Buy and Hold for the Next 10 Years
Growth stocks are not just bought for what they are now, but also for what they could become in the future. In this context, let's take a look at three exciting growth stocks whose revenue could explode in the coming decade. Machine vision expert Cognex Corporation (NASDAQ: CGNX), OLED technology and materials supplier Universal Display Corporation (NASDAQ: OLED), and industrial software company PTC (NASDAQ: PTC) are all companies with a big future. Here's why.
OLED materials and technology owner Universal Display Corporation (UDC) is a play on the growing adoption of OLED displays and panels. While the primary market is centered on high-end smartphones and to a lesser extent TVs, the technology can also expand in developing markets such as lighting, IT/wearables (laptops, watches, etc.), and automotive. UDC's partners include many leading consumer electronics heavyweights like Samsung and LG.
UDC management believes the OLED display market will grow from $29.9 billion in 2020 to more than $44.5 billion in 2023, an increase of 49%. Wall Street analysts expect UDC's revenue to grow by 93% in the same period from $430 million to $830 million.
Source Fool.com
