From Nasdaq: 2024-04-11 06:00:00

Many growth stocks have soared recently, making investors hesitant to buy more. However, it’s wise to consider promising companies like Advanced Micro Devices (AMD), ASML, and Pinterest for long-term growth. These companies have strong potential due to factors like competitive pricing, new chip developments, and expansion into new markets.

Advanced Micro Devices (AMD) competes with Intel and Nvidia by offering comparable chips at lower prices. Despite a decline in PC shipments, revenue is expected to grow in the data center market with new GPU offerings. AMD’s stock may be pricey, but its potential for growth in the AI market makes it a strong contender for investors.

ASML is a leader in lithography systems, profiting from competition among chip foundries like TSMC and Intel. Although revenue is expected to slow in 2024 due to export restrictions, growth is anticipated in 2025 with new EUV systems. ASML’s grip on chipmaking technology justifies its valuation and makes it a solid long-term investment.

Pinterest, a social media company, has seen 9% revenue growth and turned profitable in 2023. With an increase in monthly active users and plans for Gen Z engagement and overseas expansion, revenue and EPS are expected to rise in 2024. Pinterest’s stock remains reasonably valued and could be a strong growth stock for the future.



Read more at Nasdaq: 3 Breakout Growth Stocks You Can Buy and Hold for the Next Decade