Investing in the best tech stocks to buy for 10X returns by 2035 presents a compelling opportunity to achieve outsized returns. The technology sector will undergo massive transformation driven by industries including artificial intelligence, accelerated computing, renewable energy and biotechnology.
These innovations promise to not only revolutionize industries but also create substantial growth prospects for forward-thinking investors. While established giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) have delivered impressive returns, their sheer size may limit their potential for exponential growth. By identifying and investing in the right tech stocks now, investors can position themselves to capitalize on the exponential growth potential these innovative companies provide.
Now, let’s unpack the top tech stocks to buy for 10X returns by 2035!
Palantir (PLTR)
Palantir (NYSE:PLTR) is increasingly becoming one of the most loved tech stocks on Wall Street. The company is synonymous with artificial intelligence, targeting government corporations and commercial enterprises from small to large.
Palantir’s competitive advantage lies in its ability to handle complex, unstructured data and integrate it with existing systems. This has made the company an invaluable partner to organizations as diverse as government agencies, finance, healthcare and manufacturing. The company recently achieved its first full year of GAAP profitability in the 2023 fiscal year, and growth is expected to continue in 2024. In Q1 FY24, its revenue increased 21% YOY to $634 million. The company’s AIP platform continues to gain traction, with commercial revenue up 27% YOY. Moreover, operating income hit $80.8 million and FCF swelled to $149 million. With its commercial platform continuing to gain traction, Palantir could be on the brink of a decade long bull run.
GoDaddy (GDDY)
GoDaddy (NYSE:GDDY), the world’s largest domain registrar, is a household name and one of the best stocks to buy for 10X returns by 2035. The company offers a wide range of solutions including website hosting, e-commerce solutions, marketing tools and more.
Godaddy’s dominance in the domain market gives it a massive customer base and a steady stream of recurring revenue. It has been aggressively expanding its portfolio of products and services, venturing into areas such as website security, SEO and social media marketing. Additionally, it is known for its exceptional customer service which has contributed to GoDaddy’s market dominance. In FY23, revenue increased 4% YOY to $4.25 billion. Net income skyrocketed 295% YOY to $1.4 billion, or $9.08 per share. This growth is accelerating rapidly, with net earnings up 747% to $401.5 million in the first quarter of 2024. Its unified software platform is driving diversified growth, translating to higher conversion and retention.
Payoneer (PAYO)
Payoneer (NASDAQ:PAYO) is a leading provider of cross-border payment solutions for business and professionals. The company’s payment platform enables seamless transactions between buyers and sellers across different countries and currencies.
Investors often find themselves looking towards fintech companies for the chance at achieving outsized returns. This is largely due to its large total addressable market, as well as its ability to continue growing year after year. Payoneer’s value proposition lies in its ability to simplify international payments, reduce transaction costs and mitigate currency risk. The increasing demand for digital payments, particularly for freelancers, has contributed immensely to its growth over the last several years. The company’s network spans over 200 countries and territories, making it a true global player. Moreover, it will achieve its second year of GAAP profitability as a public company in the 2024 fiscal year. With net earnings skyrocketing 265% YOY in Q1 FY24, PAYO stock remains one of the top tech stocks to buy for 10X returns by 2035.
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.
