Could Home Depot Be a Millionaire Maker Stock?
Home Depot (NYSE: HD) stock has been a pretty good investment over the years. If you had invested roughly $120,000 in the stock 11 years ago, you would have a million dollars today. That is a compounded annual return of 21%.
Home Depot is already making millionaires out of long-term investors, but does it still have room to grow?
Many of us don't have $120,000 to put into one stock, and even if we did, it would not be practical to expect Home Depot to continue growing above 20% annually for the next decade. Moreover, the contraction of economic activity induced by the coronavirus outbreak will make achieving double-digit returns increasingly challenging.
Source Fool.com
