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Khurshed2705
Khurshed2705
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2023-01-25
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2 No-Brainer Growth Stocks to Buy in 2023
These stocks have enjoyed triple-digit growth in the last five years, with 2023 a major buying opportunity.
2 No-Brainer Growth Stocks to Buy in 2023
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The Nasdaq-100 Technology Sector index has risen almost 8% since the start of the year, as many stocks have gradually trended upward. As a result, now is an excellent time to invest in growth stocks while they're still down year over year.Because technology is constantly developing, the industry is a great place to hold an investment over the long term because it is likely to provide consistent gains.Here are two no-brainer growth stocks to buy in 2023.1. AMDAlong with numerous other growth stocks, Advanced Micro Devices (AMD) was hit hard in 2022 by reduced spending on tech and rises in inflation. However, the dismal year hasn't hampered its stellar long-term prospects. Even with last year's sell-off, AMD's shares have increased 493% over the previous five years and almost 3,000% in the last decade.Meanwhile, the semiconductor company's revenue has increased 153% since 2018 to $16.4 billion in 2022, with operating income rising 1,000% to $2.6 billion. As a result, now is an excellent time to invest in this undervalued growth stock, with its price still down 36% year over year.Despite declines in its PC-focused client segment in the third quarter of 2022, AMD's biggest earning segment, data centers, did not disappoint. The company's data center business saw revenue increase 45% year over year to $1.6 billion, with operating income rising 64% to $505 million. And the company has plans to expand further in this booming market.In November, AMD launched a new generation of data center chips named Genoa, and plans to release a more powerful version called Genoa-X later this year. With companies such as Alphabet's Google, Microsoft's Azure, and Oracle already signed on as clients, AMD is well-positioned to continue profiting from the market's expansion.The company's forward price-to-earnings ratio of 20.7 is especially attractive considering its prospects. The same metric for its biggest competitor, Nvidia, is 57.6.Advanced Micro Devices' stock was battered in 2022, but it is unlikely to be down forever, considering its consistent long-term performance. The company's shares have risen 16% since Jan. 1 as investors reevaluate AMD's potential. As a result, now could be the perfect time to invest in this exceptional growth stock.2. AppleApple is a solid growth stock in all aspects. Over the last five years, the company's shares have soared 211%, and 664% in the last decade.Revenue has risen 48% since 2018 to $394.3 billion in 2022, and operating income has increased by over 80% to $119.4 billion in the same period. That is primarily thanks to strong, consistent demand for its products and a talent for successfully entering new markets.In 2022, Apple's iPhone officially surpassed Alphabet's Android for smartphone market share by hitting 50%, according to Counterpoint Research. This is particularly encouraging thanks to its walled garden of products, where one purchase can encourage consumers to dive deeper into the company's varied lineup of other devices and services.And 2023 holds a lot of promise for the tech giant. In the first 20 days of the year, Apple announced MacBook Pros featuring more powerful chips, a beefier Mac Mini, and a second-generation HomePod.Reports say the company will soon enter the augmented/virtual reality markets with a new headset and is working toward reducing its dependency on other companies by using more in-house components in its iPhones. Each of these developments has the potential to significantly increase revenue over the long term, making Apple's stock a screaming buy in 2023.","news_type":1,"symbols_score_info":{"AAPL":0.9,"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":1022,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}