2 Growth Stocks That Could Turn $100,000 Into $1 Million by 2030

The S&P 500 has delivered impressive annual average returns over the past decade and investors should consider using this year's sharp stock market decline as an opportunity to add some great companies to their portfolios at attractive valuations. Nvidia (NASDAQ: NVDA) and Applied Materials (NASDAQ: AMAT) are two such companies that are worth buying now.

Both tech stocks have generated healthy returns for investors over the past several years. A $100,000 investment in Applied Materials at the beginning of 2014 was worth roughly $1 million at the end of 2021, assuming the dividends were reinvested. Nvidia, on the other hand, generated much bigger returns, turning $100,000 into roughly $7.8 million over the same period.

The growth drivers that these companies are sitting on could help them deliver such eye-popping returns over the next eight years as well. Let's see why Nvidia and Applied Materials have the potential to make more investors into millionaires by 2030.

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Source Fool.com