2 Massive Growth Stocks That Turned $5,000 Into More Than $1 Million in 20 Years

If you're investing in up-and-coming growth stocks, you don't necessarily need to make a huge investment to generate massive returns later on. You can make up for that by investing for a long period. Two stocks that have provided investors with life-changing returns over the past 20 years are Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL). Here's how much $5,000 invested in these stocks 20 years ago would be worth today.

Nvidia was always a popular name in tech for its graphics cards, but over the past few years things have really taken off for the business. The rising implementation of artificial intelligence (AI) and the popularity of ChatGPT (and other generative AI applications) have created significant demand for the company's chips, with Nvidia looking to play a prominent role in AI's growth. There were approximately 10,000 chips used in the creation of ChatGPT, and with Nvidia dominating the market for AI chips (with close to an 80% share by some estimates), its business has flourished. Over the past three quarters, the company's revenue has jumped by 86% year over year to nearly $39 billion. Earnings, meanwhile, have skyrocketed from less than $3 billion to more than $17 billion.

According to analysts from Bank of America, as demand for AI services and chatbots rises in the future, Nvidia may be able to add another $14 billion in revenue to its top line by 2027. That's a significant chunk for a company that in fiscal 2023, which ended in January of last year, generated just under $27 billion in sales.

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Source Fool.com