5 Best NASDAQ Growth Stocks to Buy and Hold Forever

2. Vicor Corporation (NASDAQ:VICR)

Vicor Corporation (NASDAQ:VICR) is one of the best NASDAQ growth stocks to buy and hold forever. On April 21, Vicor reported a 20.2% year-over-year increase in product and royalty revenues for Q1 2026, totaling $113.0 million. This growth was accompanied by a rise in gross margin, which reached $62.4 million, or 55.2% of revenue, compared to 47.2% in the same period last year. Net income for the quarter stood at $20.7 million, or $0.44 per diluted share, a jump from the $2.5 million reported a year ago, though down sequentially from Q4 2025 due to a prior one-time tax benefit.

The company’s backlog surged to $301 million, representing a 70% sequential increase from the previous quarter and a 75% increase year-over-year. The CEO attributed this demand to high-performance computing, industrial, and aerospace applications. To meet this rising need, Vicor is expanding capacity in its current facility while planning a second fab to provide redundant supply chains for its high-current-density power modules, particularly for OEMs and hyperscale data center operators.

Financially, Vicor Corporation (NASDAQ:VICR) ended the quarter with $404.2 million in cash and cash equivalents. Additionally, the company noted that its efforts to protect its intellectual property are influencing the market, as it continues to challenge the unauthorized importation of computing systems that infringe on Vicor’s power system innovations.

Vicor Corporation (NASDAQ:VICR) is a global leader in power technology. The company and its subsidiaries design, manufacture, and market modular power components and systems used to convert electrical power for devices worldwide.