3 Tech Stocks You Can Buy and Hold for the Next Decade

In the ever-evolving world of technology, some stocks are not just a flash in the pan; they are the real deal for long-term investment. With the seismic shift towards artificial intelligence (AI) driving massive competition, it’s critical to identify companies that won’t just thrive today, but dominate a decade from now. Here, I break down three tech titans that possess the innovation and market leadership to stand the test of time.

1. Nvidia: The AI Chip Powerhouse

If you think you’ve missed out on Nvidia (NASDAQ: NVDA), think again. While Nvidia’s stock has already seen explosive growth, the journey isn’t over. With an impressive estimated 70% to 95% share of the AI chip market, the company is undeniably the major player. The recent launch of the H200 AI processor, the successor to its wildly popular H100 chip, is evidence that the demand is skyrocketing—much higher than supply, according to management.

To put things in perspective, Goldman Sachs predicts that companies will unleash a staggering $1 trillion to build their AI infrastructures in the next few years. Countries are also joining the fray; the Japanese government is investing in AI supercomputers powered by thousands of Nvidia H200s. Sure, Nvidia’s current forward price-to-earnings (P/E) ratio is at 41, and the stock is down about 8% over the past quarter, but these factors create a ripe buying opportunity for savvy investors riding the AI wave. With the AI race gaining momentum, Nvidia’s stock could keep climbing for years to come.

2. Broadcom: The Under-the-Radar Player

Are you on the lookout for a tech stock that isn’t on every investor’s radar? Look no further than Broadcom (NASDAQ: AVGO). Unlike its competitors, Broadcom specializes in application-specific integrated circuits (ASICs), tailored for general-purpose AI tasks. Leading tech giants like Meta and Alphabet have turned to Broadcom to meet their cloud and AI ambitions. This has resulted in a meteoric rise in ASIC demand, pushing Broadcom’s AI sales to triple in the last quarter, ultimately hitting $3.1 billion.

Management anticipates wrapping up 2024 with an astounding $12 billion in AI revenue, an increase from their previous estimate of $11 billion. When juxtaposed with J.P. Morgan’s estimate of a $150 billion total addressable market in AI chips over the next four to five years, it becomes clear Broadcom holds substantial growth potential. Combine that with its recent acquisition of VMware for cloud platform services, Broadcom is well-positioned for long-term growth. With a forward P/E ratio around 27, this stock comes at a more attractive price compared to its AI chip cousins.

3. CrowdStrike: Defending Against Cyber Threats

Tackling cybersecurity is a challenge that won’t disappear anytime soon. Enter CrowdStrike Holdings (NASDAQ: CRWD), a powerhouse utilizing AI to bolster security. The company’s Falcon security platform has employed AI for years and just recently launched Charlotte AI—a generative AI system that allows security analysts to identify threats and mitigate risks more efficiently. By leveraging this resource, CrowdStrike’s clients save up to two hours a day in security operations.

The potential for CrowdStrike is enormous, with Morgan Stanley estimating a $135 billion market for AI cybersecurity solutions by 2035—an increase of nine times from 2021. The customer demand is already evident: about 65% of users in the second quarter adopted five or more services from the Falcon platform. While the stock does carry a hefty forward P/E of 82, recent dips of around 20% open a fresh window to enter into this market leader.

Final Thoughts

The tech landscape is teeming with opportunities, but only those firms that can consistently innovate and dominate their respective niches will emerge as long-term winners. Nvidia, Broadcom, and CrowdStrike are all positioned to take advantage of the AI boom in unique ways. Each offers compelling reasons to consider them for a decade-long investment horizon. Keep an eye on these companies—they’re not just stocks, they’re the future.

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Blog

Top 3 Tech Stocks to Buy Now and Hold for a Decade of Profits

3 Tech Stocks You Can Buy and Hold for the Next Decade

1. Nvidia: The AI Chip Powerhouse

2. Broadcom: The Under-the-Radar Player

3. CrowdStrike: Defending Against Cyber Threats

Final Thoughts