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To turn a $100,000 investment into $1 million over a decade, a company needs to achieve a compound annual growth rate (CAGR) of at least 26%. Stocks like MercadoLibre (NASDAQ: MELI), Duolingo (NASDAQ: DUOL), and Zscaler (NASDAQ: ZS) are identified as potential candidates for such growth.
MercadoLibre
MercadoLibre is Latin America’s largest e-commerce company, operating in 18 countries and primarily generating revenue from Brazil, Argentina, and Mexico. Its revenue grew at a CAGR of 54% from 2020 to 2023 and is projected to continue growing at a CAGR of 24% from 2023 to 2026, with expected earnings per share growth of 48%.
Duolingo
Duolingo has become the most downloaded language learning app, with its revenue growing at a CAGR of 49% from 2021 to 2023. Analysts forecast its revenue will grow at a CAGR of 30% from 2023 to 2026, as its user base expands significantly.
Zscaler
Zscaler’s revenue grew at a CAGR of 55% from fiscal 2020 to 2023. Analysts predict a CAGR of 26% from fiscal 2023 to 2026, driven by demand for its cloud-based zero-trust services, although the company is not yet profitable on a GAAP basis.
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