2 Stocks Down 15% and 30% to Buy Right Now and Hold for the Next Decade

Building wealth in the stock market is straightforward when you focus on buying and holding shares of industry-leading companies with steady growth. And sometimes the market gives investors the chance to buy shares of quality growth stocks at a discount.

Public safety and travel are two expanding markets that could reward patient investors, and Axon Enterprise (NASDAQ: AXON) and Airbnb (NASDAQ: ABNB) look best positioned to benefit. Their stocks are trading below their previous highs even as their businesses are seeing strong momentum in 2026.

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Axon Enterprise

Axon Enterprise is increasingly becoming the operating system for law enforcement and public safety. It's delivering strong revenue growth as it expands into new markets and shifts from selling hardware (like TASER devices) to software-based services. Yet the stock is trading 30% below its previous all-time high, creating an attractive entry point for new investors.

Revenue grew 35% year over year in the second quarter, marking Axon's 10th straight quarter of 30%-plus growth. The company has been producing numbers like these for years. Its stock is up nearly 2,000% over the past decade, and its current momentum suggests it could once again outperform the major indexes over the next 10 years.

The biggest indicator of the opportunity is the 36% year-over-year increase in software and services revenue. That growth highlights the shift from hardware to higher-margin, recurring services. Demand remains strong for its AI Era Plan, which automates time-consuming tasks such as drafting police reports.

Axon is also gaining traction beyond its core market. International bookings tripled year over year last quarter. Future contracted bookings rose 41% to $15 billion, pointing to a long runway for growth.

Overall, Axon is building an end-to-end platform spanning sensors, devices, and AI-powered software. Its high forward price-to-earnings multiple of 78 signals high expectations, but analysts also project 29% annualized earnings growth in the years ahead. If Axon continues to execute on its broader public safety platform strategy, the stock offers market-beating potential over the next decade.

Airbnb

Travel and tourism have been resilient industries over the last five years, with consumers spending more each year on getaway experiences. Airbnb's competitive edge is the millions of properties on its platform, a selection that's difficult for traditional hotel chains to match. The stock is surging after strong second-quarter results, but it still trades about 15% below its previous all-time high.

In the first half of 2026, the company delivered its strongest growth in years. Revenue rose 17% year over year in the second quarter to $3.6 billion, while gross booking value increased 16% to $27 billion.

Airbnb is attracting more guests, helped by rising interest among Gen Z. First-time bookers grew by 11% last quarter. That momentum is also being supported by expansion into newer markets, which are growing faster than its more mature regions.

Results are also being boosted by productivity gains from the internal use of AI, enabling Airbnb to launch updates more often. AI-generated listings and highlights are making it easier for guests to discover and book places to stay, which appears to be contributing to the acceleration of growth this year.

Airbnb produced $4.8 in trailing-12-month free cash flow, a strong 37% margin on revenue. The stock trades at 23 times trailing free cash flow and 35 times forward earnings, with analysts expecting earnings to grow at a 19% annualized rate over the next several years.

A favorable long-term outlook for travel is a tailwind for the business. By 2035, the World Travel and Tourism Council expects the industry to face a worker shortage as demand grows. With solid momentum and a reasonable valuation, Airbnb looks like a promising growth stock to hold for the next 10 years.

John Ballard has positions in Axon Enterprise. The Motley Fool has positions in and recommends Airbnb and Axon Enterprise. The Motley Fool has a disclosure policy.