2 Colossal Growth Stocks to Buy in the New Bull Market and Hold for Years

The new bull market of 2024 has awakened many investors’ interest in stocks. However, the truth is that quality businesses have not disappeared anywhere. Stock prices can fluctuate, but good companies can weather turbulent times and produce results that increase investor returns.

If you’re looking for growth stocks to buy and hold for the long term, you don’t have to look far to find interesting companies. Here are two stocks – one well-known and the other a relative newcomer to the cloud space – that you might want to consider the next time you’re shopping for your investment portfolio.

1. Amazon

Amazon (NASDAQ:AMZN) continued to demonstrate its ability to reinvigorate its activities in a difficult economic context, while building on the growth of its main segments. Its e-commerce platform remains one of the largest in the world and is still Amazon’s main source of revenue.

Meanwhile, the company’s Amazon Web Services (AWS) segment continues to dominate the global cloud infrastructure space. As one of Amazon’s most asset-intensive businesses, it accounts for the lion’s share of its profits.

AWS is also the clearest example of Amazon’s continued deployment of generative artificial intelligence and associated tools across a wide range of customer use cases.

Tools such as Amazon Bedrock (a service for building generative AI applications), Amazon Q (a generative AI chatbot), and Amazon Sagemaker (a platform that helps customers build and train AI models). machine learning) are being adopted by large enterprises to improve efficiency and improve customer experiences.

In the first quarter of 2024, Amazon’s total net sales reached $143 billion, an increase of 13% from the previous year. Of this total, $89 billion was attributable to e-commerce (online store sales and third-party service sales), $25 billion to AWS, and $11.8 billion to advertising. These are its three main sources of income.

Net profit for the three-month period soared 225% year-on-year to $10.4 billion, while operating profit jumped 219% to $15.3 billion. Of this total operating profit, $9.4 billion came from the AWS segment.

Ever the cash dispenser, Amazon ended the quarter with $50 billion in free cash flow year-over-year. If you’re looking for an obvious stock with a wide established moat among its top business drivers, Amazon remains a smart buy to add to again and again over the years.

2. Toasts

Grill (NYSE:TOST) makes money selling restaurant software, hardware, and financial technology solutions to small and medium-sized businesses in the United States, United Kingdom, and Ireland. While still down considerably from its all-time high, the stock is trading up about 40% since the start of this year.

The story continues

Investors have been much more cautious lately when it comes to growth-oriented companies that are not yet profitable. However, Toast operates in a rapidly growing industry while providing products and services that face constant demand.

Currently,…