My Favorite Advertising Stocks for 2023 (and Beyond)
The digital advertising industry has struggled in 2022. As the Federal Reserve started hiking interest rates, more businesses feared an economic downturn. Thus, firms sought out ways to cut back spending. Since much of advertising is easy to cut, advertising stocks of all shapes and sizes felt the pinch of downturn fears. Even Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) saw advertising demand drop.
This year has been rough, but the further off an investor's time horizon, the more the current prices of advertising stocks look like a bargain. eMarketer forecasts that global digital ad spending will reach $876 billion by 2026 -- a 46% jump from the $602 billion expected in 2022.
Here are my two favorite stocks for capitalizing on this emerging space.
Source Fool.com
