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Exploring Promising Growth Stocks for Long-Term Investment Success

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growth stocks to buy and hold - 3 Growth Stocks to Buy and Hold to Build Future Fortune

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Is this the right time to venture into growth stocks for long-term investment gains, especially when the majority of market profits stem from just a handful of tech giants? It’s easy to feel wary with seven mega-cap stocks capturing 69% of the S&P 500 index’s 2023 upswing. However, history reveals that such concentrated phases often breed success for growth stocks over value counterparts. The current scenario might offer an ideal window for hand-picking growth stocks poised for prolonged appreciation.

Although recent market peaks raise concerns of a bubble, requiring thoughtful selection to weather potential corrections, they also unveil a plethora of growth opportunities with the potential to shape a lucrative future. The key lies in identifying companies not just with solid growth potential but also trading at reasonable valuations compared to their intrinsic worth. These gems, when cradled with patience, can potentially deliver substantial returns, helping investors forge a path to wealth accumulation.

Let’s delve into a few such promising growth stocks deserving a spot in a vigilant investor’s portfolio.

Venturing into ExxonMobil (XOM) Territory

XOM Stock Is on the Way Back, but It Will Take Some Time

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ExxonMobil (NYSE:XOM) emerges as a compelling long-term bet within the growth stock realm. While the energy sector may seem overshadowed by evolving trends, the enduring demand for oil hints at a promising future. Projections by the U.S. Energy Information Administration (EIA) paint a bullish picture, suggesting a sustained high average price of over $80 per barrel for West Texas Intermediate (WTI) crude throughout 2024. Furthermore, the expanding embrace of electric vehicles underscores the significance of natural gas as a primary energy source globally.

Trading at half the price-to-earnings (P/E) ratio of the S&P 500 and flaunting a generous forward dividend yield of 3.6%, ExxonMobil stands tall as the globe’s largest publicly traded international oil and gas enterprise. Analysts echo this sentiment, foreseeing a promising climb with a 12-month price target averaging $115.42 per share. The company’s sturdy positioning and growth trajectory spotlight a compelling narrative for investors eyeing robust future returns.

Unveiling the Potential of APPLE (AAPL)

Apple store. Apple Inc. (AAPL) sells consumer electronics, computer software, services and personal computers.

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Apple (NASDAQ:AAPL), a part of the Magnificent Seven club coveted even by the Oracle of Omaha, Warren Buffett, stands out amongst the growth stock elite. Despite a stellar 50% surge in its stock price last year, Apple’s price-to-earnings (P/E) ratio remains in sync with the S&P 500, hovering at 28.4. This harmony implies a lack of extremes, minimizing the risk of a sudden reversal in fortunes.

While some headwinds from a sluggish Chinese market have tempered iPhone sales, Apple continues to embody innovation and resilience, qualities that have long defined this tech behemoth amid market fluctuations. Its strategic positioning and enduring appeal promise a journey of growth and stability, making it a compelling addition to a growth-focused investment arsenal.

Tyler Technologies: Unveiling the Untapped Potential in a Niche Market

Tyler Technologies: Unveiling the Untapped Potential in a Niche Market

Tyler Technologies at a Glance

Tyler Technologies (TYL) logo on the website homepage.

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Tyler Technologies (NYSE:TYL)
stands as a trailblazer in providing operational software solutions tailored to government entities. Its
unique market positioning sets the stage for a captivating investment narrative. As the final choice in
our selection of growth stocks worth procuring and holding long-term.

The Market Landscape

Municipal administrations across the United States are under mounting pressure to modernize their
Enterprise Resource Planning (ERP) infrastructure and associated technologies. This dynamic presents a
substantial market opportunity for Tyler Technologies, one that has largely remained underexplored for
over two decades with scarce competition in sight.

Growth Projections

The management at Tyler Technologies has painted a robust growth picture, foreseeing a 7.9% year-over-year
(YOY) sales expansion over the upcoming three years. Market analysts sing praises for the stock, with an
average price target set at $483.88. The growth estimates for the current quarter alone are staggering,
hitting the 17% mark.

On the date of publication, Stavros Tousios did not hold (either directly or indirectly) any positions
in the securities mentioned in this article. The opinions expressed in this article are solely those of
the writer, adhering to the InvestorPlace.com Publishing Guidelines.

Stavros Tousios, MBA, serves as the founder and chief analyst at Markets Untold. Armed with profound
expertise in Foreign Exchange (FX), macroeconomics, equity analysis, and investment advisory, Stavros
delivers strategic guidance and invaluable insights to investors.

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