Top 5 Growth Stocks to Buy for the Next 10 Years

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Investing in the stock market with a long-term objective is an excellent way to eliminate emotions and allow sound companies to generate growth, profits and a higher value for the shares you hold. It’s also essential to diversify your portfolio to take advantage of the growth in sectors like cannabis and tech. Here are five growth stocks you should consider putting in your portfolio for the next ten years.

  1. Microsoft – MSFT

The technology world is always changing, which requires a company to keep pace with innovations. For the past few years, Microsoft has been actively transitioning its core business towards cloud-based subscription services for its software. The stock price has reflected this change by steadily moving higher year after year. The company is also taking a stake in virtual reality, which will likely become more popular in the next decade.

  1. Nvidia – NVDA

Nvidia is another tech company that understands how to innovate and adapt its products. It’s video cards were extremely popular with cryptocurrency miners in 2017 when the price of Bitcoin was booming. Gaming is still a top revenue maker, and the company is also focusing on the use of autonomous vehicles and AI. Several engineers utilize the company’s Cuda software, which helps them maintain a strong foothold in that area.

  1. Canopy Growth – CGC

The market cap for Canopy Growth has pulled back considerably since the strong surge in its stock price occurred between 2018 and 2019. The recent pullback is mainly due to this cannabis company’s inability to create profits. The good news is that the company’s long-term prospects are bright. It’s got one of the largest footprints internationally in the cannabis space. Streamlining operations, boosting sales and cutting costs should help them take advantage of their position as a leading producer, distributor and retailer of both recreational and medicinal cannabis products.

  1. Cresco Labs – CRLBF

Another company making the list as one of the best stocks for the next decade is Cresco Labs. Cresco Labs is another cannabis play that offers plenty of potential for shareholders in the next decade. According to the experts at Money Morning, “..it could really be one of the biggest potential winners of the cannabis legalization wave sweeping the nation.” Cresco Labs has a significant footprint in California after acquiring Origin House. There’s also massive potential in other states throughout the nation if voters choose to approve the legalization of marijuana. Legalizing cannabis for recreational use in states like Florida or Arizona would help bring in even more revenues for this growing company.

  1. Square – SQ

The next ten years Square will likely see a shift from cash towards digital and card payments. Technology in the area continues to improve and offer restaurants, physical retailers and other merchants the ability to accept these types of payments. Square provides card payment readers, which assists physical sellers who want to accept different types of non-cash payments. The adoption of this technology is likely to rise significantly as the use of cash is eliminated.

Buying and holding any of these five stocks should help increase the value of your portfolio in the next decade. Each company has a roadmap to follow in areas where growth is increasing.