Warren Buffett likes to say that you only need to be right about one or two stocks to succeed as an investor. This helps to explain why the Oracle of Omaha’s portfolio is concentrated in only a handful of stocks. Apple (NASDAQ:AAPL), Buffett’s biggest position, accounts for nearly half (46%) of his $354 billion investment portfolio. Finding winning growth stocks such as Apple and sticking with them over the long-term is a recipe for success.
While there are thousands of stocks to choose from, there are far fewer growth stocks that consistently outpace the broader market and reward shareholders with steady growth and returns. Identifying these stocks is not easy, but a worthwhile exercise for any buy-and-hold investor. Here are three millionaire-maker growth stocks to hold through thick and thin.
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Shares of Alphabet (NASDAQ:GOOG / NASDAQ:GOOGL) have had a good run this year. Shares have grown nearly 50% since January. The strong performance has been driven by the company’s leadership position in artificial intelligence (AI) and a rebound in advertising spending at its core online search business. Expectations are high for continued growth in AI with the integration of the Bard chatbot into Alphabet’s Google search engine. This is meant to rival Microsoft’s (NASDAQ:MSFT) Bing search engine that now incorporates ChatGPT.
At the same time, Alphabet is starting to see a rebound in its online advertising revenue, with analysts forecasting an acceleration to double digit growth in this year’s second half. The company also continues to see big growth in its cloud computing unit, which has grown leaps and bounds in recent years. Add in Pixel smartphones, self-driving cars and