A $50,000 investment in Nvidia would be worth nearly $15 million today, while the same amount in Advanced Micro Devices (AMD) would yield approximately $2.6 million. Investors looking for high-growth opportunities might consider Wolfspeed, Reddit, and Uber Technologies as potential stocks to hold over the next decade.
Wolfspeed
Wolfspeed, a leader in silicon carbide semiconductors, expects to grow its revenue at a compound annual growth rate (CAGR) of 28% from fiscal 2024 to 2027. Despite a challenging 2024 with only a 1% revenue increase and a net loss that more than doubled, the company is planning to expand its production capabilities with its 200mm silicon carbide plant opened in New York in 2022. Wolfspeed’s current enterprise value stands at $6.9 billion.
Reddit, which went public in March 2023, reported a 27% increase in daily active unique users in 2023, reaching 73.1 million, with projections suggesting a rise to 97.2 million by Q3 2024. The company experienced a revenue growth of 21% in 2023, and analysts anticipate a CAGR of 36% from 2023 to 2026. Reddit’s enterprise value is now $21.8 billion.
Uber Technologies
Uber’s total number of trips increased by 24% in 2023, with gross bookings up 19% and revenue climbing 17%. Analysts expect Uber’s revenue to grow at a CAGR of 16% from 2023 to 2026, alongside a net income rise of 53%. Uber has successfully cut costs and divested lower-margin businesses, allowing it to turn profitable in 2023.
