These companies are generating profits at astonishing rates, despite the ups and downs of the stock market in recent years. For long-term investors, it’s important to focus on quality businesses that can withstand market cycles. Here are two top stocks to consider holding for at least a decade.
1. Vertex Pharmaceuticals: Vertex Pharmaceuticals has been seeing success with its cystic fibrosis drug franchise and continues to develop medicines for rare diseases. In the first quarter of 2024, the company reported significant profits and revenue growth. With a strong balance sheet and new products in the pipeline, Vertex is poised for future growth.
2. e.l.f. Beauty: e.l.f. Beauty has evolved over the years to become a popular beauty brand offering affordable, high-quality cosmetics and skincare products. With a strong online presence and partnerships with major retailers, e.l.f. Beauty has seen a substantial increase in sales and net income. With a growing retail network and solid balance sheet, e.l.f. Beauty is a company to keep an eye on for investors looking to add a beauty stock to their portfolio.