Is Home Depot Stock on Track to Double Your Money in the Next 10 Years?
Home Depot (NYSE: HD) has made for a fine investment in the past. Its shares produced a 462% total return in the last 10 years, effectively turning a $10,000 investment into more than $56,000 during that time. That's a superb gain.
But can this top-retail stock double your money over the next 10 years? Continue reading to see if this roughly 7% annualized gain, which would be a marked slowdown from the past, is in the realm of possibilities.
It's been a difficult time for Home Depot in the past couple of years. Ever since inflation started rearing its ugly head in dramatic fashion in late 2021, coupled with the Federal Reserve's aggressive rate-hiking policy that started in early 2022, the company has experienced pressured demand from consumers.
Source Fool.com
