Cathie Wood stocks have become synonymous with high-growth potential, attracting investors seeking substantial returns over the long term. Wood, the founder of Ark Invest, has gained a reputation for her bold bets on Wall Street.
As we look ahead to 2032, several Cathie Wood stocks have the potential to triple your money. These companies are well-positioned to capitalize on emerging technologies, paving the way in artificial intelligence (AI), machine learning and 5G technology. The true potential of these innovative growth platforms is to make investors filthy rich. By carefully selecting her top growth companies among her multiple growth platforms, investors can be on their way to achieving financial freedom.
Here are the top three most promising Cathie Wood stocks to buy to triple your money by 2032!
Meta Platforms (META)
Meta Platforms (NASDAQ:META) is a leading social media company with a massive global reach. The company’s recent push into artificial intelligence has Wall Street excited about its long-term revenue and profit potential in 2024.
Meta has established itself as a pure play AI company in 2024. The company continues to make significant strides in generative AI, and its family of Apps has a loyal and growing customer base. It also continues to make strategic investments into the metaverse, despite growing operating losses. CEO Mark Zuckerberg believes that the integration of AI and the metaverse will revolutionize the way we interact with technology and each other.
In its latest quarterly results, Meta’s revenue increased 27% year-over-year (YOY) to $36.45 billion. Daily Active People rose 7% YOY to 3.24 billion, with average revenue per person of $11.20. Ad impressions across all apps were up 20% compared to 2023 and advertisers are willing to spend more money. As Meta ramps up capital expenditure spending for the metaverse and AI, investors should keep the stock on their radar in 2024.
Qualcomm (QCOM)
Qualcomm (NASDAQ:QCOM) is undoubtedly one of the top Cathie Wood stocks to buy to triple your money. As a leading semiconductor company in the United States, the company is powering the next generation of AI connectivity through their Snapdragon X platform.
Qualcomm is poised to benefit from the increased demand for its advanced chips. These chips are essential for powering the next generation of wireless networks and connected devices. The company is known for its leadership in 5G and internet of things (IoT) mobile communications. However, their recent push into artificial intelligence has created an entirely new growth story.
Qualcomm’s Snapdragon X platforms will power a new era of AI-enabled devices from smartphones, tablets and PCs. Furthermore, Qualcomm’s recent Microsoft (NASDAQ:MSFT) partnership to power the tech giant’s AI-enabled Surface PCs is a game changer. This will open up significant doors for the company. It could drive increased demand for their Snapdragon X platform making Qualcomm stock one of the best Cathie Wood stocks to buy now.
Palantir Technologies (PLTR)
Palantir Technologies (NYSE:PLTR) is a software company specializing in big data analytics and artificial intelligence. The company’s recent flip to profitability and diversification into the commercial segment makes the stock a compelling growth prospect in 2024.
It is probably not the first time that you’ve heard about Palantir, and it likely won’t be the last. During the pandemic, the stock more than tripled after its IPO but later crashed leaving many investors holding the bag. However, a lot has changed since then, and Palantir’s true long-term potential is starting to be recognized.
Palantir’s recent flip toward profitability in the 2023 fiscal year is just one of the positive catalysts it has going for it. However, its growing commercial revenues, showcased in its latest first-quarter earnings results, continue to show a lot of promise. Nearly all financial metrics including revenue growth, operating income and free cash flow are up substantially. With strong forward guidance for 2024, PLTR stock is one of the top Cathie Wood stocks to buy in May.
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.
