Investing $15,000 Into Each of These 3 Growth Stocks 10 Years Ago Would Have Generated Over $3.8 Million in Profit Today

Regardless of how much money you have available to invest in the stock market, it can be a good idea to spread it across multiple stocks. It can be difficult to predict which stocks will be winners in the long run, so investing in several promising growth stocks is a way to increase the odds that you achieve significant returns. One massive profit can more than make up for underwhelming returns on other investments.

Three stocks that have generated better than 10x returns over the past 10 years are Nvidia (NASDAQ: NVDA), Axon Enterprise (NASDAQ: AXON), and Builders FirstSource (NYSE: BLDR). Here's how much a $15,000 investment in these stocks 10 years ago would be worth today, and whether they can still be good buys right now.

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Nvidia: $3.2 million

To probably no one's surprise, Nvidia tops this list with 10-year gains that have been life-changing for investors who have held on during that stretch. While investing in the chipmaker has proven to be a good buy, things didn't really start to take off until the emergence of ChatGPT a few years ago. When tech companies started investing heavily into artificial intelligence (AI), it led to robust demand for Nvidia's next-gen chips. Since 2023, shares of Nvidia have skyrocketed more than 730%.

Whether you believe Nvidia is still a good buy depends on your outlook for AI. If you're bullish, as Nvidia is, that tech spending will continue to grow at a high rate, then it can look like a bargain. The stock's relatively modest forward price-to-earnings multiple of 26 is in line with the average of the Technology Select Sector SPDR Fund. If you're more bearish and expect a slowdown, however, you may think the stock is overpriced and due for a drop, especially if tech giants slash their budgets for AI.

I think there's still some tremendous future growth ahead for Nvidia, given its dominance in the AI chip market. But investors may need to brace for volatility in the short term given the challenges that tariffs may pose on the markets as a whole. That may prompt companies to scale back on some of their capital spending in the near future.

Axon Enterprise: $341,000

Axon Enterprise was previously named Taser, which is the product the company is best known for. Over the years, its business has evolved and a big part of its future growth may center around body cameras -- it shipped 300,000 of them in 2024, compared with 200,000 Taser devices. It also has an underrated opportunity in AI, as that can help decrease the time for writing up incident reports and speed up evidence review.

This year, the company is projecting around 25% revenue growth, after wrapping up an impressive performance in 2024 in which it grew sales by over 30% -- the third straight year it has done so. With much more demand still on the horizon, this may continue to be a great growth stock to own for the foreseeable future.

Axon stock trades at more than 110 times its trailing earnings, but as the business scales and AI improves efficiency, its rate of profitability should improve. Last year, its profit margin came in at 18% -- better than the 11% it achieved a year earlier.

Builders FirstSource: $311,000

A company that has benefited from growth in new home sales is Builders FirstSource. The business manufactures and supplies building materials. It also offers many services and can help with the installation of windows, doors, and siding.

Builder's revenue has declined for the past two years as high interest rates have hampered the housing market and discretionary spending, which includes home renovation projects. But for long-term investors, now may be an opportune time to load up on the stock -- the market has turned bearish on Builders as tariffs and trade wars could make the prospects for near-term growth even more concerning. In the past year, the stock has fallen by 38% in value.

However, these are trends that likely aren't going to last over the long haul. The demand for new homes is inevitable with population growth and as homes get older. Provided that you can remain patient with the company amid such near-term uncertainty, Builders can still make for a solid growth stock to hang on to. At 14 times its trailing earnings, it's trading at an attractive valuation that can set you up for some solid gains in the years ahead.

Together, these three stocks would have turned a total investment of $45,000 into more than $3.8 million over the past decade. And there's still reason to remain bullish on their prospects for even more gains in the future.

Don’t miss this second chance at a potentially lucrative opportunity

Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.

On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:

• Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $295,009!*
• Apple: if you invested $1,000 when we doubled down in 2008, you’d have $42,000!*
• Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $523,463!*

Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.

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*Stock Advisor returns as of March 24, 2025

David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Axon Enterprise and Nvidia. The Motley Fool has a disclosure policy.