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The U.S. economy exhibited greater-than-expected strength in Q3, with GDP rising at an annualized rate of 5.2% from July through September. The performance highlighted its remarkable resilience amid heightened inflation and elevated borrowing costs earlier this year. Of course, this figure is also adjusted for inflation and seasonal fluctuations.

The robust economic growth is beneficial for the travel industry, as increased consumer confidence and spending power translate into higher demand for tourism services. With a flourishing economy, investors should purchase these three travel technology stocks for long-term gains as they travel in the years to come.

Alphabet Inc. (GOOG, GOOGL)

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You’ve probably heard of Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL), the largest technology company through its primary international business Google. Notably, GOOGL is up 54.6% year-to-date (YTD) thanks largely to its product announcements, which brings us to the Pixel Watch 2.

In 2022, the wearable technology industry was valued at $61.3 billion. Currently, the 2023 figure is projected to reach $71.91 billion and $186.14 billion in 2030 from a 14.6% CAGR. Released in October, the Pixel Watch 2 is Google’s latest smartwatch and boasts enhanced processing power, additional sensors, and a significantly extended battery life. These are significant improvements compared to its predecessor, the Pixel Watch 1. Promisingly, critics have lauded the sleek design and noted substantial improvements in the operating system and overall performance.

As mentioned, the company’s financials were successful in Q3 2023. Revenue in Q3 was $76.69 billion, growing 11% year-over-year (YoY). Additionally, net income and diluted EPS also grew 41.55% and 46.23% YoY, respectively. Topping it all off, the company surpassed industry projections for EPS and revenue by 7% and 1%, respectively.

Looking ahead, the advancements of the Pixel Watch 2 position the watch as a formidable competitor to industry giants such as Apple. The mainstream upgrades have effectively elevated Google’s wearable technology to meet and even surpass industry standards. And with strong financials to back its growing list of wearable tech, GOOGL is a stock worth purchasing based on its recent product developments and strong financials.

General Motors (GM)

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General Motors (NYSE:GM) is an American automotive manufacturing company responsible for notable brands such as Buick, Cadillac, and Chevrolet. Despite GM declining 15.67% YTD, growth prospects elevate GM to be a growth stock. 

Valued at $3.3 trillion in 2022, the automotive industry holds a lucrative standing with growth prospects in future years. Thanks to a projected 8-year CAGR of 7%, the industry is projected to reach $6.1 trillion in 2030.

GM currently possesses a 17.09% market share in 2022 of the industry and is primed for growth. In Q3 alone, it reported $44.13 billion in revenue marked a 5.35% YoY increase, beating earnings estimates by 2.03%. Additionally, net income and EPS were reported at $3.06 billion and $2.20 respectively, marking net increases for both. 

With recent advancements in autonomous driving technology, General Motors is strategically positioning its Cruise model to lead in the autonomous vehicle market. The company is poised to achieve significant success, with projected annual revenue reaching $1 billion by 2025. The commitment to success is evident in recent strategic decisions, including a change in Cruise’s leadership to stay at the forefront of the autonomous vehicle landscape. 

With these reasons and more from recent advancements, GM is a stock worth a investing in for the long-term.

United Airlines Incorporated (UAL)

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With 924 aircrafts in operation, United Airlines Incorporated (NASDAQ:UAL) is the third-largest commercial fleet in the world. Impressively, UAL stock is up 7.55% YTD, indicating a trend of healthy growth. Analysts predict the bullish trend will continue, with average 12-month price targets to be $59.75.

The commercial aviation industry is forecasted to have a CAGR of 7.65% from 2023 to 2028. The most prominent driver of growth is the demand for travel, as tourism accounts for 7.6% of the world’s GDP and long-distance travel is essential to the general population.

After a revenue decrease of 64.50% in 2020 in response to Covid-19, revenue in 2022 increased by 82.49% from $24.6 billion to $44.9 billion. Free cash flow has also witnessed an extreme increase.

United Airlines’ ability to take advantage of the demand for travel is proving to be a key catalyst for the company’s growth. Recently, the company has ordered 110 new aircrafts starting in 2028, which ensures the company’s long-term growth. Additionally, United is upgrading its flights, upping both quantity (offering more flights than ever before) and quality, by incorporating technology like Bluetooth and adding amenities to flights.

Overall, United Airlines is a great travel stock to buy because of its strong financial record and its position for both long and short-term growth.

On the date of publication, Michael Que 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.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.

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Original: GOOGL Feed: 3 Travel Tech Stocks Worth Considering for 2024