Better Growth Stock in 2023: Apple vs. AMD

A sell-off in 2022 led the Nasdaq-100 Technology Sector index to plunge 34% year over year. As the tech industry is known for its wealth of growth stocks, now is an excellent time to invest in the consistently developing sector.

Apple $Apple(AAPL.US)$ and Advanced Micro Devices $Advanced Micro Devices(AMD.US)$ suffered considerable stock declines in 2022. However, these companies have retained triple-digit growth in their shares over the past five years, proving the value of investing in growth stocks for the long term.

Although Apple and AMD suffered from macroeconomic headwinds last year, 2023 holds some exciting developments for these companies. So, which is the better buy? Let's take a look.

Apple shares fell 27% throughout 2022 amid the sell-off. However, the new year is off to a promising start, with the company's stock up 4% in the last five days and up 204% since 2018. Numerous reports in the first two weeks of 2023 have revealed Apple's rumored roadmap for the next couple of years, rallying investors.

One of the biggest nuggets of news is Apple's plans to venture into the virtual/augmented reality (VR/AR) markets this year with a new headset. The company's step into the booming markets has been rumored for years, with various acquisitions and patents concerning the technologies making the question not if but when Apple would finally pull the trigger.

Well, it looks like the debut of its long-anticipated headset is finally here, with Bloomberg reporting the company will announce the headset this spring.