Wall Street Oasis: 3 Growth Stocks to Turn $50k Into $250K by 2035

Investing in high growth stocks to buy offers an opportunity to multiply one’s wealth over the long term. While the stock market is inherently volatile, finding these hidden gems that can outperform the market can lead to substantial gains. 

The appeal in these companies lies in their ability to grow their revenue and earnings at an accelerated pace. For investors looking to multiply their $50,000 investment into a quarter of a million dollars by 2035, the journey will require strategic foresight. Investors will also have to analyze the company’s financial performance, industry trends, and future growth prospects. Moreover, a delicate balance between risk and reward is paramount to avoid the trap of investing in money losing stocks.

By understanding their business models, financials, and market opportunities, investors can make more informed decisions and capitalize on these high growth opportunities. 

Now, let’s discover the top 3 high growth stocks to turn $50K into $250K by 2035!

Alphabet (GOOG,GOOGL)

Closeup logo of Google.com website on an iPhone on wooden table. GOOG stock and Google layoffs

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Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is undoubtedly one of the best high growth stocks to 5X your money by 2035. The company’s dominance in search engine technology, artificial intelligence, and cloud computing provide ample room for growth over the next decade. 

Alphabet has been on an absolute tear in the past year with the stock significantly outperforming the broader market. Its stock has risen 34% year to date, as compared to the S&P 500’s 16%. Wall Street is particularly excited about its long term growth prospects in artificial intelligence. CEO Sundar Pichai has begun integrating artificial intelligence across its entire technology stack. This is driving its advertising revenue at both Google Search and YouTube. Additionally, its Google Cloud Platform (GCP) is gaining steam, rivaling Amazon Web Services and Microsoft Azure. In the first quarter of 2024, Alphabet’s cloud revenue increased 28% year over year to $9.6 billion. With its advanced AI and ML capabilities, its GCP is well positioned to gain market share, further bolstering Alphabet’s long term growth prospects.

Spotify (SPOT)

Spotify (SPOT) logo is on the screen of a smartphone with headphones plugged in.

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Spotify (NYSE:SPOT), a leading music streaming and podcasting service, has revolutionized how people consume music globally. Boasting more than 600 million monthly active users (MAUs), Spotify has established itself as the dominant player in the music streaming business. 

Spotify’s growth since the company’s founding back in 2006 is driven by its freemium model. It attracts a large user base through its free, ad-supported tier in hopes to convert them into paying subscribers. This model has worked incredibly well over the last decade, scaling its user base while generating recurring revenue from premium subscribers and advertising revenue. Additionally, in its latest quarterly results, management is strategically focused on driving EBITDA margins and scaling profitability. In Q1 FY24, revenue increased 20% year over year to $3.6 billion. Earnings per share swelled 184% year over year to 97 cents per share, with operating margin up 243 basis points to 27.6%. With Spotify’s recent hike of premium subscription plans, it is among the top high growth stocks to buy and hold for the long term. 

American Express (AXP)

an American Express (AXP) credit card sticking out of someone's pocket

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American Express (NYSE:AXP) is an American financial services company that is synonymous with prestige and exclusivity. As a leading global payments company, American Express offers a range of credit cards, charge cards, and travel-related services. 

American Express made a name for itself from its premium card offerings and strong brand loyalty. Its high-spending customer base fuels its growth and drives significant transaction volume and fees. While this is the core of its strategy, a new opportunity has emerged. Management has fully realized the high spending habits and power of the Millenial and Gen Z segments. This has been the key to its strategy, which aims to target these segments to drive long term profitable growth. Since the COVID-19 Pandemic, American Express has been on a roll. Its cash flow has remained strong and it also issued impressive guidance for the 2024 fiscal year, after releasing its first quarter earnings results in April. With revenue and earnings per share anticipated to see double digit growth, AXP stock is among the best high growth stocks to buy now. 

On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.

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