Stocks to buy

3 Nasaq Stocks That Could Make Your Grandchildren Rich

While the Nasdaq composite has delivered a total return of about 20% this year, there are certain Nasdaq stocks for long-term growth that industry analysts consider primed for future success. 

Let’s go through some of these three Nasdaq stocks revolutionizing their respective industries, and how experts gauge their long-term performance. 

Nvidia Corporation (NVDA)

Nvidia (NVDA) logo and sign on headquarters. Blurred foreground with green trees

Source: Michael Vi / Shutterstock.com

Nvidia Corporation (NASDAQ:NVDA) is the leading player in the robotics market right now. The company leverages its GPU technologies and advanced AI capabilities to drive innovation across industries such as gaming, automotive, high-performance computers, and robotics.

Its Omnivers platform delivers the capabilities that enable creators, professionals, developers, and even students globally to build, operate, and connect metaverse applications. Within the platform, developers can develop, train, and test robotics using the built-in NVIDIA accelerated libraries and application frameworks, as well as other available AI models. 

But that is not all, NVIDIA’s GeForce RTX™ is a dream come true for gamers, providing next-level fast and clear graphics that make gaming livelier. The company has also invested heavily in automotive design resources and AI experience. All of which are accessible on its Omniverse platform. Leading in almost all futuristic industries, such as AI and robotics, it is no surprise that NVIDIA just surprised Apple as the highest-valued company globally. 

NVIDIA’s EPS for the 12 months ending April 30, 2024, hit $1.71, a 790.1% increase YoY. It’s market cap also hit this $3 trillion dollar mark, which puts it in swiping distance of becoming the stock market’s largest company.

Analysts don’t expect NVIDIA to slow down any time soon, with the recent announcement that it intends to collaborate with numerous automotive manufacturers to integrate its automotive feature, DRIVE Orin, into next-generation vehicles, adding to its prospect as a Nasdaq long-term growth stock. 

Pinduoduo Holdings (PDD) 

In this photo illustration the Pinduoduo logo seen displayed on a smartphone. PDD stock

Source: rafapress / Shutterstock.com

Pinduoduo Holdings (NASDAQ:PDD) is a Chinese online retailer originally focusing on agricultural products. The company has, however, diversified to a full-scale retail platform that allows all kinds of products. 

You probably know Pinduoduo through its e-commerce platform, Temu, which has shaken online retail fabric with ridiculously cheap products shipped directly from sellers in China. Temu’s business model is disruptive in that it removes the inline intermediaries and instead connects sellers and buyers directly, enabling sellers in China to ship directly to buyers in the United States.

Temu is not a fad, even if its cheap products put the company’s business model and sustainability into question. Removing the intermediaries and the ability for sellers and customers to connect directly on the platform improves the customer experience from whatever angle you look at it, whether you consider improved communication, tracking of orders, or even price negotiations. It has brought the time-tested Chinese-style bargain e-commerce to this other side of the world. 

It is no wonder PDD stock has been among the best growth stocks recently. The company’s revenue grew by 131% YOY to hit $11.99 billion, surpassing estimates by over 1.41 billion. The stock has also seen over 5.7% increase in the last quarter. 

Super Micro Computer (SMCI)

Person holding cellphone with logo of US company Super Micro Computer Inc. (SMCI) (Supermicro) in front of business webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

Super Micro Computer (NASDAQ:SMCI) is one of the tech companies riding high on the AI frenzy and making significant gains out of it. The company provides high-performance servers and storage solutions for its clients, leveraging AI technology to meet the rising demand for server and cloud storage. 

The company is significantly investing in expansion to new areas of computing technology, with its Direct Liquid Cooling (DLC) technology poised to meet the increasing demand for high-performance computing environments. 

SMCI stock prices currently stand at a whopping $905.26, tripling within a year, and industry analysts agree that the company may even leap by 300% by 2026. The company revenue has also seen over 200% surge YoY to 3.85 billion and an EPS of $6.65, a staggering 308% increase. With these statistics, SMCI is one of the Nasdaq stocks for long-term growth and one to put your money on if you want to reap smart in the future.

On the date of publication, Joel Lim 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.

Joel Lim is a contributor at InvestorPlace.com and a finance content contractor who creates content for several companies like LTSE and Realtor, along with financial publications, including Business Insider, Yahoo Finance, Mises Institution and Foundation for Economic Education.

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