Ready to Retire Rich? 2 Growth Stocks That Could Soar 100% by 2030

Key Points

• Shopify has barely tapped into the enormous e-commerce opportunity available worldwide.

• Alphabet is free of a major risk and could soar in the next five years thanks to its cloud and AI businesses.

• 10 stocks we like better than Shopify ›

Investing in stocks is a great way to save for retirement. With enough time, even modest sums invested regularly can grow significantly and help people become rich -- or at least significantly richer -- by the time they are ready to leave the workforce. However, it's crucial to invest your money in the right stocks, as many will destroy their shareholders' wealth or lag behind the broader market.

Two companies that are worth serious consideration are Shopify (NASDAQ: SHOP) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). These growth stocks could double in value over the next five years, delivering a compound annual growth rate of 14.9%. And even beyond the end of the decade, Shopify and Alphabet have excellent prospects.

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1. Shopify

After a major pullback about four years ago, Shopify is back to its market-beating ways. The e-commerce specialist has outperformed broader equities since late 2022, and some signs suggest it could continue to maintain that momentum. Shopify established itself as a leader in its niche of helping merchants set up and run online stores. It has a market share of more than 12% by gross merchandise volume (GMV).

The e-commerce industry is expected to continue growing rapidly through the end of the decade, according to projections. Shopify generates revenue through subscription services, whereby merchants pay recurring fees for access to its platform. Then there is Shopify's merchant solutions, a suite of services it offers, including lending, payment processing, shipping, and others. As the company's ecosystem grows, it will generate more money through subscription fees. However, this will also lead to more transactions, higher GMV, and increased revenue from merchant solutions for the company.

Furthermore, Shopify has moved closer than ever to profitability, thanks to several key business changes that helped boost its margin. The company should achieve consistent profitability by the end of the decade.

These factors explain why Shopify is on a roll, and given its prospects, there is a good chance it can double investors' capital by 2030. What about the company's prospects beyond that? An important long-term tailwind for the company could be international expansion.

Shopify still generates the majority of its revenue from its U.S. operations. Nothing wrong with that, since the U.S. e-commerce market accounted for just 16.3% of total retail sales in the country as of the second quarter.

So, there is ample whitespace here, but there is less penetration into the industry in most of the 175 countries where Shopify has a presence. That should provide Shopify with ample growth fuel and help jump-start its goal of becoming a 100-year company. Investors who stick along for the ride could see massive returns over the long run.

2. Alphabet

Alphabet has recently eliminated one of its biggest threats. After a loss in an antitrust case, the company feared the worst possible outcome: A judge forcing it to divest its Chrome browser, which is central to its billion-dollar advertising business. Fortunately, Alphabet avoided that fate, and although there were some sanctions, in the grand scheme of things, they were pretty light.

Alphabet was underperforming the market this year, despite strong financial results, due to this risk hovering above its head. In the second quarter, Alphabet's revenue increased 14% year over year to $96.4 billion. The company's earnings per share increased by approximately 22% to $2.31.

The tech leader is now in an even better position to benefit from its work in cloud computing and artificial intelligence (AI), which should be powerful tailwinds in the next five years. In the second quarter, Google Cloud revenue grew much faster than the rest of the business, by 32% year over year to $13.6 billion. Strong demand for AI-related services is helping power that.

Meanwhile, Alphabet has strengthened its advertising business, also thanks to the use of AI. The company's AI overviews and AI mode in search are helping it compete with chatbots, and it is doing so successfully. Alphabet cloud and AI businesses should drive strong top-line growth in the next few years. And since it's early in the AI revolution, this could prove to be a powerful tailwind for Alphabet for years to come.

The company has several other long-term opportunities, including its autonomous vehicle business, Waymo. Although this segment is, for now, inconsequential to Alphabet's results, self-driving cars are slowly gaining traction and could, one day, become the norm, something that the tech giant will likely benefit from down the road. In short, Alphabet is a leader in advertising, cloud computing, and AI, three businesses that should help it perform well through the end of the decade and beyond, especially now that it won't have to deal with the loss of its Chrome browser.

Other potential growth opportunities, such as robotic cars, also contribute to its long-term prospects. The stock could double by 2030 and continue delivering excellent returns beyond that.

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Prosper Junior Bakiny has positions in Shopify. The Motley Fool has positions in and recommends Alphabet and Shopify. The Motley Fool has a disclosure policy.