3 Stocks That Turned $1,000 Into Half a Million Dollars

The Nasdaq Composite Index is down 26% year to date as of this writing. Top stocks like Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) have corrected 30% and 20%, respectively, so far in this year. Obviously, investors are concerned about their investments.

Yet if you look at a longer time horizon, you'll realize that your portfolio should do well, irrespective of steep corrections on the way. Let's look at three stocks that have turned $1,000 into half a million dollars, even after correcting steeply in this year. Although past performance is no indication of how these companies may fare in the future, it does give some important lessons on long-term investing strategies.

Amazon went public in May 1997. Its IPO (initial public offering) price was $18, but adjusting for the four stock splits the stock has undergone so far, the IPO price comes to $0.075. If you had invested $1,000 in Amazon at the time of its IPO, your investment would have risen to half a million dollars (rising 500 times) in 2017 -- that's roughly 20 years.

Source Fool.com