3 Growth Stocks to Buy as Video Gaming Takes Off Big Time
Demand for video games has taken off in 2020 as shelter-in-place orders and lockdowns instituted across the globe have kept people confined to their homes, forcing them to look for other ways to entertain themselves.
Video games and e-sports analytics provider Newzoo estimates that the video gaming market could grow nearly 20% in 2020 and hit a size of $175 billion, according to its latest forecast -- $15.6 billion higher than its previous estimate. Newzoo also points out that the market's growth is here to stay, with revenue anticipated to hit close to $218 billion by 2023.
There are various ways to take advantage of this potential growth on offer, from hardware and chip vendors to game publishers. In this article, we are going to take a look at three stocks -- Glu Mobile (NASDAQ: GLUU), Advanced Micro Devices (NASDAQ: AMD), and Corsair Gaming (NASDAQ: CRSR) -- that are primed to benefit from different niches of the video gaming space.
Source Fool.com
