SMCI - 3 Amazing Growth Stocks That Turned $30000 Into More Than $1 Million in 10 Years
2024-06-26 06:15:00 ET
Investing in tech stocks yielded some magnificent, life-changing returns for investors. And specifically, companies with exposure to artificial intelligence (AI) performed exceptionally well in recent years. Nvidia (NASDAQ: NVDA) , Advanced Micro Devices (NASDAQ: AMD) , and Super Micro Computer (NASDAQ: SMCI) generated more than 30x returns in a span of just the past 10 years. Here's how much a $30,000 investment into these stocks a decade ago would be worth today, and why they could still be good buys right now.
A $30,000 investment into chipmaker Nvidia back in 2014 would be worth more than $8.1 million now. That amounts to an astonishing return of around 27,000%. Shares of Nvidia have been taking off in the past few years due to the rapid emergence of AI models and chatbots, which it is poised to help grow with its AI chips.
As a leading company and the brand that's most recognizable with AI these days, Nvidia benefited the most from the growing excitement in tech. A particularly strong segment of its business is in data centers. In its most recent quarter, which ended on April 28, that segment generated $22.6 billion in sales, which soared 427% when compared to the prior-year period. Nvidia's overall sales growth of 262% has already been incredible, but its data center numbers stand out even more.
For further details see:
3 Amazing Growth Stocks That Turned $30,000 Into More Than $1 Million in 10 Years