3 Top Stocks to Buy and Hold for the Next Decade and Beyond
The U.S. equity market has been battling with rising inflation and interest rate hikes for the past year. Now, with stronger-than-expected jobs growth and a higher-than-expected Consumer Price Index (CPI, a metric used to gauge inflation) in January 2023, worries about further interest rate hikes seem to have gripped the minds of investors. The minutes from the Federal Open Market Committee's February meeting seem to reassert these fears since all the members are in favor of pushing up interest rates. That, coupled with fears of recession, seems to have extended the bear market.
Historically, stock market corrections have been mostly followed by strong bull rallies, though such rallies may be out a few months, or even years. Hence, this period can also prove to be a good time for bargain-hunting high-quality stocks such as Amazon (NASDAQ: AMZN), Snowflake (NYSE: SNOW), and Datadog (NASDAQ: DDOG), which are driven by secular tailwinds.
Share prices of e-commerce, cloud computing, and digital advertising player Amazon came crashing down to earth in 2022. Although the stock performed better in early 2023, it is nowhere close to its former glory. Investors are worried about the company's weak outlook for the first quarter of 2023 in the face of slow growth, lack of profitability of the e-commerce business, and a weak cloud computing market.
Source Fool.com
