The ever-evolving nature of the tech industry has made it one of the best places to find solid growth stocks you can hold for decades.
Photo Insert: Apple shares have risen 16% since Jan. 1, with reports the company plans to release a mixed-reality headset this year, rallying investors.
While the sector can be volatile at times -- macroeconomic headwinds led the Nasdaq-100 Technology Sector index to plunge 40% last year -- those who held on saw these stocks start to rise again in 2023, analyst Dani Cook wrote for the Motley Fool.
Since the start of the year, the potential of high-growth industries, such as artificial intelligence (AI) and virtual/augmented reality (VR/AR), has sent a number of stocks trending up.
The companies in these markets are effectively building the future, making their stocks excellent investments to hold indefinitely.
Apple shares have risen 16% since Jan. 1, with reports the company plans to release a mixed-reality headset this year, rallying investors. The growth is consistent with the company's long-term development, which has seen its stock rise 232% in the last five years and 887% in the last decade.
Apple’s venture into VR and AR is a compelling move for its future for two reasons: First, the lucrative long-term potential of the markets, and; second, Apple's past success when entering new industries.
Grand View Research says the VR market was worth $21.8 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15% through 2030. The AR market is expected to grow at a CAGR of 40.9% in the same period after being valued at $25.3 billion in 2021.