Got $3,000? These Supercharged Stocks Could Triple Your Money in a Decade
Growth investors have some phenomenal opportunities following the 2022 bear market. With many tech stocks down big, there are some huge potential returns available to savvy investors who buy the right ones now and hold on for the long haul.
To triple the value of an investment in just a decade would require you to achieve compound annual growth averaging roughly 12%. That's not an outrageous figure, based on the historical performances of the major stock market indexes, but it is somewhat higher than the average return of the S&P 500. Therefore, investors looking for those kinds of results should focus on growth stocks. Value stocks and dividend stocks probably won't cut it.
For this exercise, it would be smart to focus on companies that can average at least 15% revenue growth annually across a full decade. Stock prices will rise and fall with demand due to economic conditions, and we might see some higher valuations down the road if interest rates fall. However, it's a better practice to identify stocks with strong fundamental growth potential rather than relying on market conditions to work in your favor. Here are two that I think fit the bill.
Source Fool.com
