If the stock market has (re)taught anything just since the end of February, it’s that it’s still very unpredictable… at least in the short run. The S&P 500‘s sizable 9% pullback in March has since been unwound with an amazing rebound of more than 10% in just four weeks. Nobody really saw either swing coming, however, and certainly not to the degree they materialized. Most people would have been at least as well off not trying to act on any of this volatility, and just sticking with quality stocks through all of it.
To this end, here’s a closer look at three growth stocks to simply buy and hold forever, knowing they’ll survive any temporary headwinds and continue making long-term forward progress.
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You primarily know Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) as parent to search engine Google, which alone accounts for more than half of the company’s total revenue.
That’s far from all that Alphabet is, however. The company also owns YouTube, runs a major cloud computing service, owns the Android mobile operating system, and manages several subscription-based profit centers.
Even this diversification isn’t quite the reason investors might want to buy and hold a piece of this company forever, however. Rather, it’s Alphabet’s willingness and proven ability to develop anything new. It’s working on its own quantum computing platform, for instance, with the ultimate intent of using this tech to support artificial intelligence (AI) work. This certainly won’t be the last of the company’s innovations or inventions.
The e-commerce industry that Amazon largely helped create and then shape is only going to continue getting bigger. But the business is evolving as it expands. Consumers are increasingly looking for more than selection and convenience. They’re craving authentic stories from brands and sellers, which a platform like Amazon.com just isn’t built to offer.
Enter Shopify (NASDAQ: SHOP).
Unlike Amazon, Shopify allows organizations to custom-build their own e-commerce presence and sell directly to consumers their own way. And it’s working. Its tech facilitated the direct sale of $378.4 billion worth of goods and services last year, up 29% year over year.
This is only the beginning, of course, as this shift in consumers’ e-commerce preference is relatively new.
