My Take: 4 Strong Growth Stocks to Buy This Week
This has been an excellent year for growth stocks, with many enjoying significant rises after their sell-offs in 2022. The combination of high inflation and the Federal Reserve's interest rate hikes in response triggered a bear market that took the tech-heavy Nasdaq Composite index down by 33% last year. In 2023, however, booming markets like artificial intelligence (AI) and improvements in inflation have made investors bullish again.
The performances of many growth stocks over the past few years serve to highlight how crucial it is to hold over the long term, even in uncertain times. Stockholders who sold last year amid macroeconomic headwinds would not have benefited from the correction in 2023. So it's not a bad idea to dedicate a large portion of your portfolio to stocks with a history of consistent long-term gains, and to plan on holding on to them for five to 10 years, minimum.
With that idea in mind, here are four growth stocks I see as smart buys this week.
Source Fool.com
