Though the current stock market volatility can create unease, it can also emerge as an opportunity to acquire the top tech stocks to buy and hold.
Titans of the investing world have effectively used this moment and purchased numerous stocks during 2022.
The tumultuous bear market of 2022 has had investors looking for ways to protect their portfolios. Investors have learned that cheap growth stocks can become significantly cheaper in a bear market and are not immune to the ever-changing market climate.
Taking on more informed investments and having faith in these specific stocks could lead to brighter times ahead for savvy investors who do their due diligence. Let’s look at seven of the best tech stocks to buy and hold for the long haul.
| AMZN | Amazon | $87.86 |
| AMD | AMD’s | $65.41 |
| ABNB | Airbnb | $89.57 |
Amazon (AMZN)
Amazon (NASDAQ:AMZN) is a tech juggernaut and a clear leader in ecommerce and cloud services. It’s always among the best tech stocks to buy and hold.
Despite the market headwinds, its businesses have held up remarkably well, setting it up for a tremendous 2023. A huge positive for the firm was the strength in online spending during the holiday shopping season.
On Black Friday alone, U.S. spending climbed 2.3% year-over-year to a record $9.12 billion. Moreover, The National Retail Federation expects overall holiday sales (including online) to increase by 6%-8%, a sign of robust consumer confidence for Amazon.
Amazon Web Services has truly disrupted the cloud computing industry, claiming a stake dominated by no other. Perhaps the crown jewel for Amazon is its cloud business. AWS boasts unprecedented operating margins and is projected to expand exponentially over the next 10 years.
Estimates put the market value of cloud computing at over $1.7 trillion by 2029, showcasing an impressive annual growth rate of 20%. With such prospects, it’s easy to see why AWS could take AMZN stock to new heights.
AMD (AMD)
Despite AMD’s (NASDAQ:AMD) difficult year, its commitment to developing innovative products and expanding its market share remains undiminished.
AMD’s chips have been widely used across a multitude of industries. This momentary dip in demand for the company’s chips hasn’t damaged its stock for investors looking ahead to huge potential returns, making it one of the best tech stocks to buy and hold in the chip sector.
AMD’s diversification into data centers and gaming is clearly paying dividends, as both divisions reported impressive revenue increases this past year.
This, combined with the company’s steady progress on its new Ryzen 7000 processors and cutting-edge Epyc data center chips, creates an environment for tremendous growth. With the semiconductor market constantly evolving, AMD should benefit from such positive developments in the near future.
AMD is in the pole position for a rebound and should be an attractive option for investors.
Airbnb (ABNB)
Despite market volatility, Airbnb (NASDAQ:ABNB) has proved incredibly resilient.
As expected, investor caution over a potential recession is warranted, but Airbnb has continued to weather the storm effectively and remains in an excellent position to push forward next year.
In the third quarter of this year, Airbnb experienced a record-breaking $2.9 billion revenue expansion, rising an astounding 29% year-over-year and exceeding analyst expectations. With an extraordinary $1.2 billion net income, Airbnb achieved the best margin of its history at 42%.
This impressive performance makes Airbnb one of the best stocks to purchase before the holiday season. With more people desiring personalized lodging rather than traditional hotels and the global travel market gradually recovering, investing in ABNB stock could be one of the best bets in the market.
On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
