Growth investing is appealing because stocks that can consistently increase sales and earnings also generally see increases in their share prices. It’s also easier for many investors to understand the appeal of the best growth stocks, as companies with dynamic products and services offer a logical path to success in the years ahead.
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Unfortunately, the longer you look into the future as an investor, the harder it is to have confidence in your strategy. Yesterday’s leaders sometimes turn into tomorrow’s has-beens, with previous promises of growth turning into bad headlines about missed opportunities. And of course, there also are macroeconomic events to consider such as a global pandemic or financial crisis that upend even the best-laid plans.
The following nine stocks are certainly not sure things, since that doesn’t exist on Wall Street. That said, they are all large and established companies with a strong track record of growth and success. This makes them likely candidates for buy-and-hold investors who want to invest in long-term growth opportunities:
| Stock | Sector | Market Capitalization |
| Nvidia Corp. (ticker: NVDA) | Technology | $2.9 trillion |
| Apple Inc. (AAPL) | Technology | $3.4 trillion |
| Palo Alto Networks Inc. (PANW) | Technology | $110 billion |
| Meta Platforms Inc. (META) | Communication services | $1.3 trillion |
| AbbVie Inc. (ABBV) | Health care | $341 billion |
| Intuitive Surgical Inc. (ISRG) | Health care | $166 billion |
| MercadoLibre Inc. (MELI) | Consumer discretionary | $96 billion |
| Jones Lang LaSalle Inc. (JLL) | Real estate | $11.4 billion |
| Coinbase Global Inc. (COIN) | Financials | $48.7 billion |
Nvidia Corp. (NVDA)
— Market cap: $2.9 trillion
— Sector: Technology
Nvidia is perhaps the highest-flying growth stock in the S&P 500, with shares that have surged a stunning 2,800% in the last five years to give the chipmaker a market value that’s now larger than Google parent Alphabet Inc. (GOOG, GOOGL) and behind only fellow tech titans Microsoft Corp. (MSFT) and Apple. There’s good reason for its meteoric rise, too, as the firm’s semiconductors are used in everything from modern connected vehicles to cryptocurrency mining to artificial intelligence to quantum computing. Wall Street’s growth estimates are still pretty strong, too, with revenue set to double this fiscal year compared with the prior year and then another 40% growth predicted for the next fiscal year on top of that. When it comes to the best growth stocks to buy, it’s hard to bet against the forecasts for Nvidia.
Apple Inc. (AAPL)
— Market cap: $3.4 trillion
— Sector: Technology
Another dominant tech company, Apple is the most entrenched consumer technology firm on the planet and the largest U.S. corporation by market value. The company is so big that it has a massive war chest of more than $60 billion in cash and marketable securities — enough for an outright purchase of other major corporations, including Marriott International Inc. (MAR) or insurance giant Aflac Inc. (AFL). Those are just examples based on size, of course, but it’s worth noting that Apple has pushed hard into new areas such as Apple Pay, which topped $200 billion in transaction volume in 2023. Additionally, its Apple TV boasts 25 million paid subscribers. With a massive installed user base and ambitions to expand in other areas from finance to media and beyond, Apple knows how to use its scale to power future growth in the decade to come.
Palo Alto Networks Inc. (PANW)
— Market cap: $110 billion
— Sector: Technology
Palo Alto is the largest U.S. cybersecurity stock by market value. After a recent black eye for top competitor CrowdStrike Holdings Inc. (CRWD) following a buggy update caused widespread outages across various parts of the global economy, that dominance seems very secure as PANW moves forward. Generally, cybersecurity is a sure-thing business thanks to global concerns about hacking, ransomware and other challenges. PANW has helped key customers from professional sports to Big Oil to fellow Silicon Valley megacaps, making it a go-to provider in this high-growth industry. Shares are up more than 50% since Jan. 1 on expectations of double-digit revenue expansion both this fiscal year and in fiscal 2025, showing a strong tailwind for the company.
Meta Platforms Inc. (META)
— Market cap: $1.3 trillion
— Sector: Communication services
Facebook and Instagram parent Meta is a company that currently dominates social media and online advertising. And with more users deploying the search functionality on the platform or leaning on its AI tools, Meta remains on the cutting edge of digital media. Consider that despite Meta’s already massive market share, digital advertising continues to drive even greater revenue, with Q2 earnings showing a 22% growth rate in its top line. The digital ad industry continues to be the preferred way for brands to get the word out as it allows focused targeting and transparent performance metrics, making META a growth stock that investors can believe in for the long haul.
AbbVie Inc. (ABBV)
— Market cap: $341 billion
— Sector: Health care
While technology may be the first sector people think of for growth, select health care companies also have a lot to offer as they develop next-generation treatments. AbbVie is currently among the top pharmaceutical companies in the world based on sales, with more than $55 billion in revenue forecast this year and projections of nearly $59 billion for fiscal 2025, and it continues to grow and thrive thanks to an impressive product pipeline. That includes a one-two punch of blockbuster anti-inflammatory drugs Skyrizi and Rinvoq, which treat things such as Crohn’s disease and arthritis. The two drugs are projected to generate $16 billion in sales in 2024 and exceed $27 billion in 2027. Shares have consistently outperformed over the last five years, with ABBV stock up about 200% versus about 85% for the S&P 500 over the same period, showing the long-term growth potential of this health care leader.
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Intuitive Surgical Inc. (ISRG)
— Market cap: $166 billion
— Sector: Health care
Another growth stock for the next 10 years in the health care sector, Intuitive Surgical is a next-gen medical device company that develops minimally invasive surgical instruments. In particular, its da Vinci Surgical System is the gold standard for complex procedures that can be done using cameras, robotic tools and other space-age techniques that allow doctors to keep pathogens out of patients and speed recovery time by doing less damage to surrounding tissues. The company is highly specialized, but it’s a great niche to dominate — and ISRG has a history of outperformance as a result. Shares are up 180% in the last five years to more than double the performance of the S&P 500, and are up 800% in the last decade to deliver almost five times the gains for that benchmark index.
MercadoLibre Inc. (MELI)
— Market cap: $96 billion
— Sector: Consumer discretionary
Discretionary stocks can sometimes be risky long-term bets, as they depend on changing consumer tastes as well as the ups and downs of the economy to prompt broader spending trends. However, MercadoLibre stands out thanks to its unique e-commerce platforms that serve Latin America. While Amazon.com Inc. (AMZN) is dominant in the U.S., there are pockets of opportunity overseas that local firms like MELI have been able to take advantage of. And just like Amazon, the firm is looking at doing much more than just ship consumer goods, with everything from banking services to auto and real estate sales as well as marketing and logistics services for merchants. Incorporated in 1999, the company boasts a great long-term track record of growth. Consider shares are up a stunning 1,200% in the last 10 years, and revenue has surged from roughly $500 million to $20 billion in the same period.
Jones Lang LaSalle Inc. (JLL)
— Market cap: $11.4 billion
— Sector: Real estate
It’s admittedly hard to find a real estate firm with as much growth potential as a dynamic tech stock or health care company. But JLL has a unique business model that makes it worth a look, operating a commercial real estate management and investment business that helps third parties manage real estate assets. This is a very in-demand service right now as all manner of investors are looking to harness the income-producing potential of real estate but often aren’t experienced in the process of transacting for massive office buildings or managing tenants once the deal is sealed. With almost three decades of experience in this area, JLL is all too happy to help — for a modest fee, of course. Shares have risen nicely alongside the S&P 500 for the last five years, but considering that period spans a brutal pandemic-related downturn for commercial real estate markets, there is a lot of reason to have confidence JLL will power higher in the years ahead.
Coinbase Global Inc. (COIN)
— Market cap: $48.7 billion
— Sector: Financials
It’s hard to find a financial stock that is fundamentally a growth company, as the entrenched megabanks tend to squeeze out competition. What’s more, the basic business of lending and managing money is a very “cyclical” enterprise tied to the ups and downs of the border economy. Coinbase stands apart from the typical banks and investment firms, with a focus on the disruptive digital asset marketplace. The firm is not a Bitcoin miner or direct play on crypto, however, as it operates exchange and custody services for various coins as well as related financial products. The firm is young, as it only went public in 2021, but the multiyear tailwind for crypto markets shows that digital assets are not a fad. As proof: Coinbase is projecting a stunning 90% growth rate in revenue this year. COIN is well positioned to capitalize on the continued success of this marketplace in the years ahead, and it is a rare growth stock in the financial sector for those who want to look beyond the typical tech names.
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Update 08/15/24: This story was previously published at an earlier date and has been updated with new information.
