After Doubling in 5 Years, Home Depot May Be the Best Bargain for 2030 Returns
Investing in top-tier companies for five years or longer is a proven wealth-building strategy. Home Depot (NYSE: HD), the go-to spot for home-improvement needs, managed to double its market value in just five years despite facing some serious challenges. And its success story might just be getting started, making Home Depot an exciting pick for the next decade.
Home Depot has shaken up the home improvement game since it went public, becoming an ally for businesses and homeowners tackling DIY projects of all sizes. Thanks to its stellar lineup of products and services tailored for every project, Home Depot and its market seem ripe for delivering more. Statista research predicts the U.S. home improvement scene will balloon to a jaw-dropping $621 billion by 2025, jumping from $457 billion in 2020.
Even with all the recent global disruptions and inflation worries, Home Depot stood its ground, only seeing a small 3% dip in sales to $37.7 billion year over year in the third quarter of last year. That little drop just shows how solid Home Depot's spot in the market is and how it keeps customers coming back, no matter what.
Source Fool.com
