In this article, we will take a look at the 10 best stocks to buy and hold for the next decade.
Is Nuclear Energy Making a Comeback?
Nuclear plants continue to re-open, but the question stands, will the global supply be able to meet the ever-growing demand for clean energy? On October 1, Aniket Shah, Jefferies’ global head of sustainability and transition strategy, appeared in an interview on Yahoo Finance to discuss his stance on nuclear energy making a comeback amid the AI boom.
Shah shares that the nuclear energy boom is not surprising. Looking back, the United States signed significant partnerships to boost the supply of nuclear energy years ago, indicating that the value this sector holds is not unknown or recent.
He adds that the big tech companies are going to be primary catalysts and will influence the entire market. These companies will invest millions and billions in nuclear energy, making the transition easier for other companies to follow. According to Shah, some key investment areas would be small modular reactors and nuclear fusion.
Shah also acknowledged that the United States held a bipartisan view of the nuclear boom, explaining why regulations and acts in favor of nuclear energy are being passed at notoriously high speeds. While the building blocks of nuclear energy are coming together, Shah remains concerned over the execution. He highlights that the United States does not have enough skilled labor and resources to make the nuclear energy boom a reality and must work extremely hard to make it happen.
Nuclear Energy is Poised for Growth Amid AI Boom
One of the most opportunistic investment themes in 2024 is AI, the other is electrification, and both require a lot of power. The surge in power demand is in turn driving utility stocks. On October 4, Durgesh Chopra, Evercore ISI managing director, appeared in an interview on Yahoo Finance to discuss how utilities could benefit from AI-driven power demand.
Chopra highlights the biggest catalyst for companies like Vistra and Constellation Energy is data centers’ needs for a 24/7 source of clean energy. Therefore, nuclear companies must grab the opportunity and enter into long-term contracts to lock in future growth as soon as possible.
There are multiple projects in the pipeline in the United States, that add up to roughly 1.5 gigawatts of energy, positioning nuclear plants as the next big thing in energy. On the flip side, balancing supply and demand will be a key challenge for companies.
Despite the challenges, he believes that the market is well-positioned for growth in utilities. Utilities have not seen demand growth in the past decade, but things are finally changing for the sector. Overall, with inflation going down, the sector may experience significant tailwinds. Chopra also emphasized that growth in this sector will yield results in five to seven years.
Now that we have assessed the market, let’s take a look at the 10 best stocks to buy and hold for the next decade. You can also take a look at the safe stocks to invest in for the long term in 2024.
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Our Methodology
To come up with the 10 best stocks to buy and hold for the next decade, we sifted through multiple similar rankings and compiled an initial list of 20 stocks. We then ranked the top 10 based on their hedge fund sentiment at the end of Q2 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
10 Best Stocks to Buy and Hold For The Next Decade
10. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Number of Hedge Fund Holders: 69
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity company that ranks 10th on our list of the best stocks to buy and hold for the next decade. The company provides a range of security products including identity management, threat intelligence, and threat detection.
The company provides services to over 29,000 clients in multiple sectors including healthcare, retail, technology, and the government, like Amazon and Google, reiterating its strong position in the market. Its AI native cybersecurity platform, Falcon is its primary product. The company’s cloud security segment logged $515 million in revenue, growing at 80% year-over-year, in FQ2 2025.
Despite the July 19 incident, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has been resilient and showcased transparency and accountability to its customers. Annual recurring revenue for the second quarter of 2024 was $3.86 billion, up by 32% year-over-year. While the company may face delays in closing deals in the second half of 2024, the deals shall remain in the pipeline.
In the past 40 days, the company not only closed crucial partnerships but also added innovations to its Falcon Platform and expanded its CrowdStrike Marketplace to meet the growing demand for cybersecurity solutions. As our reliance on software increases so does the need for cybersecurity, which makes CrowdStrike Holdings, Inc. (NASDAQ:CRWD) an important stakeholder now and in the coming years.
Analysts are bullish on CRWD and their 12-month median price target of $325 points to an 11% upside from current levels. According to the Insider Monkey database, CRWD was held by 69 hedge funds at the close of Q2 2024 with total stakes amounting to $3.01 billion.
9. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 81
ASML Holding N.V. (NASDAQ:ASML) is a semiconductor equipment company headquartered in the Netherlands. Companies use ASML’s extreme ultraviolet (EUV) lithography machines to develop AI chips. EUV bookings for ASML increased by 56% year-over-year and total bookings increased by 24% year-over-year.
In the second quarter of 2024, ASML Holding N.V. (NASDAQ:ASML) logged $6.91 (EUR 6.2 billion) in revenue and expects net sales to grow to somewhere between $7.47 billion (EUR 6.7 billion) and $8.14 billion (EUR 7.3 billion) in Q3 2024.
ASML Holding N.V. (NASDAQ:ASML) believes 2024 is a transition year and will continue to invest in increasing its capacity and improving its technology to meet the surging demand in 2025. In June, the company partnered with Imec, a leading research and innovation hub in nanoelectronics and digital technologies, to launch a new High NA EUV lithography lab in Veldhoven, built to develop equipment for developers of edge logic and chips from across the globe.
For its 2030 guidance, ASML Holding N.V. (NASDAQ:ASML) projected between EUR 44 billion and EUR 60 billion in revenue, in its investor day meeting in November 2022. The company has an 83% market share in lithography, explaining why 81 hedge funds were long on the stock at the end of Q2 2024. Of those, Fisher Asset Management was the largest shareholder with a position worth $3.23 billion. Analysts’ median price target has an upside of 28% from its current level.
Polen Capital Polen International Growth Strategy stated the following regarding ASML Holding N.V. (NASDAQ:ASML) in its fourth quarter 2023 investor letter:
“Netherlands-based ASML Holding N.V. (NASDAQ:ASML) and Japan-based Lasertec play dominant roles within different segments of the global semiconductor industry. In both cases, shares rallied significantly in the fourth quarter of 2023, prompting our positions to grow as a percentage of the overall portfolio. We believe both companies will see demand for their products as extreme ultraviolet (EUV) lithography and soon high-numerical aperture lithography must be utilized to manufacture the world’s smallest chips. However, in our estimation, 2024 could deliver a year of less exciting growth for the semiconductor industry, which prompted us to trim these positions back.”
8. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 85
Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company specializing in producing electric cars and solar-integrated renewable energy solutions. The company is one of the largest EV manufacturers and accounted for nearly 50% of EV sales between April and June, in the United States.
Electric vehicles accounted for 84% of Tesla’s revenue in the second quarter of 2024, indicating its reliance on the industry. Its energy segment, logged $3 billion in sales, doubling year-over-year. The company avoided 20.4 million metric tons of CO2 with its initiatives in 2023, equivalent to 48 billion miles of driving.
During the second quarter of 2024, Tesla, Inc. (NASDAQ:TSLA) launched a new lineup of electric vehicles, to boost the launch of new models. Its new lineup and extensive production line will deliver over 3 million vehicles of capacity when optimized fully.
Despite sluggish growth in its electric vehicle segment, the company’s investments in AI make autonomous driving a reality, contributing to its position as one of the best stocks to buy and hold for a decade. In addition to AI-based self-driving and AI training chips, the company also made headlines for its Tesla Bot, a humanoid autonomous robot capable of performing miscellaneous tasks.
Tesla is poised for significant growth in the coming years because of its growing emphasis on AI and its stance on sustainability. Sustainability is a rapidly growing concern for economies and Tesla is on track to spearhead the movement.
Baron Funds mentioned Tesla, Inc. (NASDAQ:TSLA) in its Q2 2024 investor letter:
“As discussed in the Fund’s prior shareholder letter, the fears about Tesla’s products were misplaced. Instead of the company being exclusively dependent on limited vehicle models and software advancement, the company announced it will more rapidly introduce products that appeal to a wider audience. It also demonstrated that its price reductions were the result of efficiencies rather than only to spur demand. Margins exceeded expectations. And the company’s integration of its hardware with proprietary AI software should facilitate full self-driving capabilities and subsequent new revenue streams. This integration of hardware with software creates a dynamic growth company as it more fully explores its potential with Optimus, humanoid robotics. The combination of these catalysts resulted in Tesla’s stock increasing meaningfully and rapidly in the second half of the quarter. This stock price momentum has continued into the next period.”
7. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 93
Oracle Corporation (NYSE:ORCL) is one of the best stocks to buy and hold for the next decade. The technology company is based in Austin, Texas, and specializes in providing businesses with a complete suite of cloud applications.
Its cloud applications provide coverage for financial management, project management, risk management, supply chain planning, and inventory management. Its cloud infrastructure segment provides services in analytics, AI, machine learning, big data, compute, and DevOps, among others. Oracle Corporation (NYSE:ORCL) also produces hardware products such as scalable engineered systems, servers, and storage products.
For the fiscal year ended 2024, the company logged $53 billion in revenue. Oracle Corporation (NYSE:ORCL) has spent more than $80 billion on research and development since FY 2012 and over $110 billion on 150-plus acquisitions so far. As of today, the company has more than 160,000 employees, 29,000 consulting experts, and 18,000 customer support and service specialists who speak in over 20 languages.
Oracle Corporation (NYSE:ORCL) currently boasts an army of 430,000 customers and over 300,000 cloud community members. Some of its high-profile companies include PeopleSoft, Siebel, BEA, Sun Microsystems, Netsuite, and Cerner. In September, the company announced a strategic partnership with Amazon Web Services to help customers run workloads on both AWS and Oracle Cloud Infrastructure. During the same month, the company also announced the availability of Oracle Database on Google Cloud.
Overall, Oracle has massive growth potential and is on track to leverage AI to its benefit over the next few years. Just last week, Oracle Corporation (NYSE:ORCL) announced its plan to invest over $6.5 billion in AI and cloud computing in Malaysia, a testament to its expansive strategy. According to our Insider Monkey database, 93 hedge funds were bullish on the stock at the close of Q2 2024.
6. Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 117
Salesforce Inc (NYSE:CRM) is a leading cloud provider and one of the best stocks to buy and hold for the next decade. The cloud provider is on its way to becoming an AI powerhouse. The company’s AI cloud platform can support any large language model. Key AI products by the company include Sales AI, Customer Service AI, Marketing AI, and Commerce AI.
Previously, MuleSoft, Salesforce’s software company that provides integration software to connect data and applications, launched AsyncAPI which is capable of building AI-powered customer experiences in real-time. The launch will facilitate the widespread adoption of event-driven infrastructures, allowing businesses to respond to real-time events faster.
Salesforce Inc (NYSE:CRM) is committed to expand and innovate. Last month, the company acquired Zoomin, a data management provider for unstructured data. Salesforce will leverage the unstructured data to power its AI agents. During the same month, the company partnered with NVIDIA to create advanced AI capabilities using autonomous agents and interactive avatar experiences. NVIDIA’s AI technology will be integrated into Salesforce’s platform to significantly improve the customer experience.
The company’s Data Cloud saw a 130% increase year-over-year in paid customers and will be the fastest product to reach $1 billion, $5 billion, and $10 billion. Overall, Salesforce Inc (NYSE:CRM) claims that this is its first step to becoming an AI enterprise and is expecting a major tailwind in revenue due to AI adoption in the coming years.
5. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 130
Broadcom Inc. (NASDAQ:AVGO) is a semiconductor manufacturing company that designs, develops, and supplies semiconductor and software infrastructure products. Some of its products include cable modems, networking processors, and storage adapters.
Broadcom Inc. (NASDAQ:AVGO) is one of the most prominent stocks to buy and hold and we say that because in 2024, the company extended its AI workload to deliver the industry’s first switch platform for scalable AI systems. The company also launched a new technology, Retimers, that helps computers process huge amounts of data for AI tasks. Both these innovations are breakthroughs for AI infrastructure.
In addition to that, Broadcom Inc. (NASDAQ:AVGO) recently partnered with Comcast, and Charter Communications to make chipsets capable of running on high speed. Previously in August, the company launched an on-premise version of its enterprise agility platform. The on-premise version will allow businesses to plan, prioritize, manage, and track activities in real-time.
In the fiscal third quarter of 2024, the company’s revenue was $13.1 billion, up by 47% year-over-year, driven by the growing demand for AI and its cloud platform, VMware. In the fourth quarter of 2024, Broadcom expects revenue from AI to grow by 10% sequentially reaching $3.5 billion, bringing the full-year total to $12 billion.
Overall, Broadcom Inc. (NASDAQ:AVGO) has an upward growth trajectory for the foreseeable future. Such can be attributed to the expanding demand for artificial intelligence and data and storage capabilities.
Aristotle Atlantic Partners mentioned Broadcom Inc. (NASDAQ:AVGO) in its Q2 2024 investor letter. Here is what the firm said:
“Broadcom is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. The company strategically focuses its research and development resources to address niche opportunities in target markets and leverage its extensive portfolio of U.S. and other patents and other intellectual property to integrate multiple technologies and create system-on-chip component and software solutions that target growth opportunities. Broadcom designs products and software that deliver high performance and provide mission-critical functionality. The company has a history of innovation in the semiconductor industry and offers thousands of products that are used in end products such as enterprise and data center networking, home connectivity, “set-top boxes broadband access”, telecommunication equipment, smartphones and base stations, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. Broadcom differentiates itself through its high-performance design and integration capabilities and focuses on developing products for target markets where it believes it can earn attractive margins.
We view Broadcom’s semiconductor business as being very well positioned to benefit from secular growth in data center networking, which is being driven by AI and cloud computing. The company continues to invest in research and development, and we see this as a competitive advantage for the company. Broadcom’s infrastructure software business is a recurring revenue business model that provides mission-critical mainframe support software to its customer base. The recent VMware acquisition will enhance this business strategy and accelerate the growth rate of this business unit, as VMware’s product suite includes key tools for AI server upgrades. Our long-term investment thesis is supported by Broadcom’s success in its strategy of maintaining technology and market share leadership in mission-critical markets with high switching costs and deep profit pools.”
4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 156
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) ranks fourth on our list of the best stocks to buy and hold for the next decade. TSMC is a semiconductor manufacturing and design company. The leading fabrication entity makes chips for tech giants including Nvidia and AMD.
TMSC expects its 2024 capital expenditure budget to lie between $30 billion and $32 billion. Of this, 70% to 80% of the budget will be allocated to advanced process technologies, nearly 20% will be directed to specialty technologies, and 10% will be spent on advanced packaging, testing, and mass-making. Recently, TMSC formed a joint venture with Robert Bosch GmbH, Infineon Technologies AG, and NXP Semiconductors N.V. to launch a semiconductor fab in Dresden, Germany. The joint venture, European Semiconductor Manufacturing Company (ESMC), will be the EU’s first Fin-FET capable pure-play foundry, positioning TMSC as a leader in the industry.
In the second quarter of 2024, the company’s revenue increased by 13.6% sequentially, led by growing demand for its nanometer technologies. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) expects revenue from AI chips to increase at a compound annual growth rate (CAGR) of 50% by 2027. For the year ended 2024, TSMC projects a 20% growth in revenue, again driven by the demand for chips used in artificial intelligence.
Despite macro headwinds, the company projects strong growth for the stock in the coming years thanks to the growing demand for AI. Analysts are bullish on the stock and their 1-year median price target of $209 points to a 12% upside from current levels.
Diamond Hill Capital stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q2 2024 investor letter:
“On an individual holdings’ basis, top contributors to return in Q2 included our long positions in Alphabet, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and Microsoft. Semiconductor manufacturer Taiwan Semiconductor’s (TSMC) fundamentals remain solid as demand for its chips continues growing — particularly as the machine learning and cloud computing trends gain more traction.”
3. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 179
NVIDIA Corporation (NASDAQ:NVDA) is one of the most influential stocks at the moment. NVIDIA Corporation (NASDAQ:NVDA) is one of the most widely held stocks by hedge funds. Such can be attributed to its rapid advancements in technology and strategic partnerships. The company’s networking platform for AI, Spectrum X, is projected to become a multi-billion dollar entity in a year.
Moreover, the company just closed a deal with Salesforce allowing organizations to benefit from advanced AI and data capabilities. Two weeks ago, NVIDIA launched a new AI tool, Aerial, to optimize wireless networks that will meet the needs of the next generation on mobile, robots, autonomous vehicles, and 5G.
The company expects to log $32.5 billion in revenue in the fiscal third quarter of 2025. The revenue is likely to be driven by its growing Hopper architecture and sampling of its Blackwell chips. During the fiscal fourth quarter of 2025, the company will pace up the production of its Blackwell chips, hinting towards a successful financial year for NVIDIA.
Analysts are bullish on NVDA and their 12-month median price target of $150 points to a 13% upside from current levels. According to our Insider Monkey database, at the close of Q2 2024, 179 investors were bullish on NVDA, with total stakes amounting to $53.7 billion.
Ithaka Group’s Ithaka US Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2024 investor letter:
“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artifi cial intelligence (AI), machine learning, and autonomous driving. The reason for the stock’s appreciation in the quarter was twofold: First, the stock benefi ted from tremendous excitement surrounding the further development of generative AI and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future; Second, Nvidia posted another strong beat[1]and-raise quarter, where the company upped its F2Q25 revenue guidance above Street estimates, showcasing its dominant position in the buildout of today’s accelerated computing infrastructure.”
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 279
Microsoft Corporation (NASDAQ:MSFT) is one of the biggest technology companies in the world that develops productivity and business suite applications, cloud products, and personal computing products.
Microsoft Corporation (NASDAQ:MSFT) reported revenue worth $64.7 billion in FQ4 2024, up by 15% year-over-year. During the same quarter, Microsoft Cloud had $36.8 billion in quarterly revenue, up by 21% year-over-year, and posted record bookings.
The company is a leading investor in artificial intelligence technology. Its AI-backed cloud service, Azure OpenAI service witnessed an increase in customer base by 60%, reaching 60,000 clients in the second quarter of 2024.
Previously in July, Microsoft and Lumen Technologies signed a partnership to enhance and modernize Lumen’s workloads to Microsoft Azure. Earlier in August, Microsoft Corporation (NASDAQ:MSFT) partnered with Palantir Technologies, a data software company, to deploy Palantir’s suite of products in Microsoft Azure.
In the past few weeks, the company initiated investments in other countries, signed new partnerships, and nurtured existing strategic partnerships. On October 8, Microsoft (NASDAQ:MSFT) announced that Microsoft Azure is the first cloud to be running on NVIDIA’s Blackwell system backed by AI systems, further strengthening its position in AI.
Overall, Microsoft Corporation’s (NASDAQ:MSFT) outlook toward AI coupled with its strong cloud ecosystem makes it one of the best stocks to buy and hold for the next decade. In the second quarter, 279 hedge funds held positions in Microsoft (NASDAQ:MSFT) and their stakes amounted to $89.068 billion.
Baron Opportunity Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its Q2 2024 investor letter:
“Microsoft Corporation (NASDAQ:MSFT) is the world’s largest software and cloud computing company. Microsoft was traditionally known for its Windows and Office products, but over the last five years it has built a $135 billion run-rate cloud business, including its Azure cloud infrastructure service and its Office 365 and Dynamics 365 cloud-delivered applications. The stock contributed to performance because of continued strong operating results and investor enthusiasm regarding Microsoft’s leadership across the secular megatrends of AI and cloud computing. Recent business momentum continued to show evidence of the strength and attractiveness of Microsoft’s product portfolio among its customer set: (1) Azure OpenAI – its suite of AI services – is now used by 65% of the Fortune 100 and contributed 7% of Azure revenue (an annualized run rate of $5.2 billion); (2) GitHub Copilot – its AI code writing service – is bending the productivity curve for developers (reports of 40%- plus improvements in developer efficiency) and now has 1.8 million paid subscribers, with growth accelerating to over 35% quarter-over-quarter; and (3) Copilot Studio – its AI application service that makes it easier for anyone to build an application, automate a workflow, or create a Copilot using natural language. 30,000 organizations across every industry have used Copilot Studio to customize Copilot for Microsoft 365 or build their own, up 175% quarter-over-quarter. In the March quarter, Microsoft again reported better-than-expected financial results, highlighted by Microsoft Cloud growing 23% year-over-year, with the fastest commercial bookings in six quarters, and Azure accelerating to 31% constant currency growth, up from 28% in the previous quarter. June quarter guidance came in-line with consensus, but the company provided higher guidance for the most important segment, Intelligent Cloud, on the back of continued strong trends across Azure and Azure OpenAI. We remain confident that Microsoft is one of the best-positioned companies across the overlapping software, cloud computing, and AI landscapes.”
1. Amazon.com Inc (NASDAQ:AMZN)
Number of Hedge Fund Holders: 308
Amazon.com Inc (NASDAQ:AMZN) ranks first on our list of the 10 stocks to buy and hold for the next decade. Amazon.com Inc (NASDAQ:AMZN) is a technology company that specializes in e-commerce, online retail, streaming, and data cloud services. Its e-commerce platform is functional in 20 countries and ships to over 100 countries.
The company was first launched in 1994 and is on track to capture over 40% of the e-commerce market in the United States. Its proprietary cloud service, Amazon Web Services (AWS), increased its revenue by 18.8% in Q2 and has reported 30% plus operating margins consistently for the past five quarters.
Over the past few months, the company has not only forged partnerships with AI startups and the government but it has also been actively involved in the development of AI hardware. Recent chips produced by the company include Trainium and Inferentia. On Prime Day, Amazon deployed a quarter million Graviton Chips and 80,000 custom AI chips to manage the surging activity on its platforms.
Speaking of AI, AWS is now housing the next generation of Llama models from Meta, giving customers more choices to build, deploy, and scale generative AI applications. On September 19, Amazon.com Inc (NASDAQ:AMZN) launched Project Amelia, a selling assistant backed by generative AI, allowing sellers to offer better customer assistance and reach.
Overall, AWS has close to 31% market share in cloud computing, indicative of its dominance in the market. Now that AWS is increasingly adopting AI-backed systems, the company is poised to become a fully AI-run company in the next few years.
Analysts are bullish on AMZN and their 12-month median price target of $220 points to a 20% upside from current levels. According to our Insider Monkey database, AMZN was held by 308 hedge funds at the close of Q2 2024 with total stakes amounting to $65.85 billion.
Diamond Hill Select Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2024 investor letter:
“Among our top individual contributors in Q2 were Amazon.com, Inc. (NASDAQ:AMZN), Texas Instruments and Mr. Cooper Group. Internet retail and cloud infrastructure company Amazon is benefiting from strong profitability, particularly in its Amazon Web Services (AWS) business. Shares also received a boost amid growing optimism around the demand for AWS as Amazon customers’ investments in generative AI projects continue growing.”
Overall, AMZN ranks first among the 10 stocks to buy and hold for the next decade. While we acknowledge the potential of online retail and cloud companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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