$10,000 Invested in These Stocks Could Make You a Fortune Over the Next 10 Years

Are you looking to make a fortune? Then you have to give time in the market. Here are a few stocks to buy in this bear market.

| More on:
funds, money, nest egg

Image source: Getty Images

In archery, to shoot a moving target, you don’t shoot the arrow where the target is now but where it will be later. The stock market is like a moving target. To make a fortune 10 years from now, don’t invest in stocks that are popular today. Invest in stocks that could become popular 10 years later. That’s a lot of guesswork, but you can make an educated guess by understanding the market conditions and a company’s growth pace. 

Where to invest $10,000 now to earn a fortune 10 years later 

Here are four stocks working on a long-term secular trend that could change the future. 

Tech stocks on the road to growth 

Nvidia 

The 2022 tech stock meltdown has removed inflated prices of the pandemic and brought some growth stocks at attractive valuations. Nvidia (NASDAQ:NVDA) is a popular name in the chip industry, known for its advanced graphics processing units (GPUs). The stock plunged as much as 60% this year, as crypto miners flooded the market with second-hand GPUs after the crypto bubble burst. But it is quickly picking up the pieces as its next-gen GPU hits the market. 

Nvidia stock has already jumped 40% in a month and could surge another 80% to its March level as the market recovers. Nvidia’s GPUs are shaping the future of next-gen artificial intelligence (AI), autonomous vehicles (AVs), and 5G network infrastructure. This stock can recover to its previous high and make new highs through 2030. 

Nuvei

While Nvidia is riding the hardware growth, Nuvei (TSX:NVEI) is riding the global payments platform growth. Nuvei is a mid-cap stock that debuted in the TSX during the tech bubble. Hence, when the bubble burst, the stock returned to its initial public offering (IPO) price. The Nuvei platform facilitates more than 570 alternate payment methods like cards, payment gateways, and crypto. 

Its fate is tied to the economy’s gross domestic product (GDP). The more transactions that happen through the platform, the more money it earns per transaction. Nuvei is well placed to benefit from the popularity of financial services, e-commerce, and online and social gaming. 

When all tech companies are slashing their guidance and cutting jobs, Nuvei increased its 2022 guidance and hired 66 new team members. It revised its 2022 adjusted earnings before interest, taxes, depreciation, and amortization guidance to $346 million from $342 million at the midpoint.

The Nasdaq ETF 

The tech stock meltdown has changed the Nasdaq landscape. Netflix and Meta are losing value, while Microsoft and Amazon are gaining. iShares NASDAQ 100 Index ETF (CAD-Hedged) (TSX:XQQ) gives you exposure to the next phase of Nasdaq at less than $90 a unit. This exchange-traded fund (ETF) can give you 50% growth in one year if you buy at the dip and triple your money in 10 years. How? 

The ETF will benefit from artificial intelligence, autonomous vehicles, electric vehicles (EV), cloud networking, e-commerce, and crypto trends. Every future tech stock trades on Nasdaq. If it is among the top 100 stocks, the ETF holds it. The ETF makes it easy for Canadians to access the Nasdaq. 

Magna stock

All tech and no other sector can put your fortune in jeopardy. The pandemic is a warning of why you should not have too much exposure in only one sector. Diversifying your portfolio into growth stocks of other sectors can help you mitigate the risk of bubbles. Magna International (TSX:MG) is my pick in the automotive sector. It stands to benefit from the EV revolution. 

The stock is down 27%, as a chip supply shortage, rising commodity (lithium) prices, and the energy crisis created supply constraints. The chip supply constraints are easing, giving Magna the space to complete the orders. More automakers are electrifying, and Magna is their trusted partner. The unfolding of short-term challenges already pushed the stock up 21% in a month. There is more rally to this stock. So, if you own it, hold it. If you don’t own Magna stock, buy it before it is too late. 

The evergreen stock 

Amid growth and momentum, don’t forget to balance your portfolio with an evergreen stock like Enbridge that can pay you dividends in market highs and lows. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. The Motley Fool has positions in and recommends Nuvei Corporation. Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Amazon, Enbridge, Magna Int’l, Meta Platforms, Inc., Microsoft, Netflix, and Nvidia. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

Profit dial turned up to maximum
Dividend Stocks

This 7% Dividend Stock on the TSX is Worth Watching

With this superb TSX stock now trading at the bottom of its 52-week range, it's certainly a dividend stock you'll…

Read more »

bulb idea thinking
Energy Stocks

This Stock Is Miles Ahead of Its Industry: Is It a Buy Now?

This stock has proven to be well worth the investment, especially at a time with increasing demand for clean energy…

Read more »

edit Colleagues chat over ketchup chips
Stocks for Beginners

3 Reasons NFI Stock Looks Like a Screaming Buy

NFI (TSX:NFI) stock has seen shares rise higher and higher, most recently after first-quarter earnings that saw its backlog swell.

Read more »

Bad apple with good apples
Dividend Stocks

Safe and Sound Stocks for Canadians: My Top 5 Choices

Want some of the best stocks for Canadians right now? Here's my top 5 list of stocks to buy today…

Read more »

stock data
Stocks for Beginners

1 Stock to Steer Clear of

TFI stock (TSX:TFII) has seen shares drop by 18% after earnings, but unfortunately it doesn't look like the first quarter…

Read more »

A bull outlined against a field
Stocks for Beginners

2 Top Bargain Stocks Ready for a Bull Run

These two top Canadian stocks look undervalued right now but might not remain cheap for very long.

Read more »

Redwood trees stretch up to the sunlight.
Dividend Stocks

2 Fantastic Growth Stocks to Buy Right Now

These two growth stocks aren't your average growth stocks, as shares rise higher and higher after earnings, and more's to…

Read more »

Canadian Dollars
Stocks for Beginners

3 Stocks to Invest $30,000 in Right Now

Are you looking for some of the best stocks to invest in right now? Here's a trio that offer growth…

Read more »