We asked hundreds of millennial investors for their top long-term stock pick. Here are the top 7 most popular responses.
Business Insider assembled a panel of hundreds of young investors who volunteered to share their views about the markets. This is a self-selected group of people under the age of 35 who have a brokerage account. Respondents were asked which single stock they'd most like to hold on a long-term basis. Amazon was the most popular pick, with more than 9% viewing the stock as their best long play. Other mega-cap tech juggernauts made the list, while AT&T and Disney helped round out the top seven. Listed below are the top seven stocks millennials are most interested in holding for the long term. Visit the Business Insider homepage for more stories.
The stock market's newer participants are betting that mega-cap growth stocks will keep notching record highs after volatility dies down and the coronavirus recession ends. Millions of novice investors flooded the market in recent months looking to profit on stocks' rally from March lows. The S&P 500 and Nasdaq composite now sit at record highs, leaving young investors at a fork in the road: stay safe with the market's growth darlings or find other names for long-term bets. A panel conducted by Business Insider of more than 460 millennial investors shows the group largely going with the former strategy. Amazon took the top spot with 9% of respondents deeming it their favorite long-term pick. In a separate question, more than half of the panel picked the e-commerce giant as their favorite FAANG stock. Read more: MORGAN STANLEY: Buy these 12 underappreciated stocks that offer strong profit growth and are due for a surge Microsoft and Apple nearly tied for second place, supporting the narrative that younger investors see tech outperforming for years to come. Facebook tied for sixth place alongside AT&T. The social media giant was also respondents' least preferred FAANG name, with only 2% saying they'd pick it over other tech mega-caps to own over the next decade. Listed below are millennials' top seven stocks they plan to hold for the long term, in descending order of popularity. Read more: Bank of America shares a trading strategy designed to boost returns from a 'potential blow-off' rally in Apple's stock as it surges past big-tech peers
Ticker: AMZN Share of vote: 9.09%
Ticker: MSFT Share of vote: 5.52%
Ticker: AAPL Share of vote: 5.19%
Ticker: TSLA Share of vote: 4.87%
Ticker: DIS Share of vote: 2.60%
Ticker: T Share of vote: 2.27%
Ticker: FB Share of vote: 2.27%
Now read more markets coverage from Markets Insider and Business Insider: US investing champion David Ryan famously garnered a compounded return of 1,379% in just 3 years. Here is the 11-part criteria he uses to find the next big winner. Tesla will surge another 19% from current levels on Battery Day hopes, says new biggest Wall Street bull Salesforce spikes 29% on blockbuster earnings and boosted full-year forecastJoin the conversation about this story » NOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first time
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