3 Growth Stocks That Can Make You Richer in 2024 and Beyond
2022 was a dismal year for some investors, with several growth stocks getting battered left, right, and center. However, things seem to have taken a turn for the better as we come to the end of 2023. With a better-than-expected real gross domestic product (GDP) growth rate and cooling inflation in the third quarter, many growth stocks are seeing a strong recovery in share prices.
In such an environment, it makes sense for investors to consider picking up shares in growth stocks that are riding solid secular trends such as streaming, robotics, and artificial intelligence (AI). Here's why these three stocks fit the bill and can help you generate wealth in 2024 and beyond.
A global leader in the smart TV operating system market, (NASDAQ: ROKU) is a major beneficiary of the accelerated pace of cord-cutting. According to a Kagan US Consumer Insights survey, 35% of U.S. households have dropped their pay TV subscriptions, an increase in the past year of 8 percentage points. These viewers have been shifting to more economical streaming services, driving demand for Roku's streaming hardware devices and connected TV (CTV) operating systems, which are licensed to television manufacturers. Not surprisingly, Roku reported a solid 16% year-over-year increase in active accounts to 75.8 million in the third quarter.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 27 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 69.8% for Roku compared to the current price of 54.77 €.
