As a result, it might not be a bad idea to add a gaming stock to your portfolio. While it might be enticing to head straight to behemoths like Sony and Microsoft, more under-the-radar gaming stocks also have a lot to offer. Advanced Micro Devices (NASDAQ: AMD), Take-Two Interactive (NASDAQ: TTWO), and Corsair Gaming (NASDAQ: CRSR) have all tumbled over the last year for various reasons but have promising futures.
The gaming industry remained strong throughout the 2008 recession, as companies like Nintendo continued selling millions of Wii and DS consoles. Game subscription services, microtransactions, and the booming mobile gaming industry offer multiple avenues for game companies to gain revenue outside of new titles and console sales. As a result, it might not be a bad idea for patient investors to consider adding gaming stocks to their portfolios, and there are some excellent choices in October.
Growth stocks have gotten crushed across 2022's trading. A combination of factors including rising interest rates, high inflation, weak economic performance, and geopolitical instability have driven huge sell-offs for the market at large, and company's with forward-looking valuations have generally been hit even harder. The technology-heavy Nasdaq Composite index is now down roughly 32% across this year's trading, and many growth-dependent stocks are down even more from recent highs.