3 Stocks That Could Double Over the Next 2 Years

Some investors, particularly the ones seeking high growth, generally want to find stocks that can double in value in two years or less. This means a stock would have to rise by a compound annual growth rate (CAGR) of about 42% over that period.

There's no trouble finding such stocks when looking backwards. However, correctly predicting such price action before it occurs presents several challenges. Not only do prospective buyers have to look at valuations and financial metrics, but they may also have to deal with occurrences that investors can't predict.

Still, you can find stocks that hold a reasonable chance of earning such returns over the next two years. Investors might want to look to these three stocks for such gains due to their past growth rates and trends in their respective industries.

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1. AMD

Advanced Micro Devices (NASDAQ: AMD) just made a deal that dramatically increases the odds of such growth. In a "multi-generation agreement," OpenAI will deploy 6 gigawatts of AMD graphics processing units (GPUs).

This will begin with the release of AMD's Instinct MI450 series of chips, due out in the second half of 2026. In exchange, OpenAI holds a warrant for up to 160 million shares of AMD stock, contingent on the achievement of milestones.

This comes as AMD has benefited from rapid growth in both its artificial intelligence (AI)-driven data center and PC segments. Additionally, before this deal, AMD reported $1.6 billion in net income in the first half of 2025, up from $388 million in the same year-ago period. With this agreement, the company's profits are likely to keep accelerating.

Moreover, the one-day increase in the stock price of 24%, which came before the announcement, is likely just the beginning. Although AMD's 121 price-to-earnings ratio (P/E) seems high, investors will likely respond well to its 57 forward P/E ratio, due to the potential for income deals from the aforementioned deal.

As AMD becomes a greater force in the chip industry, its AI-driven growth could potentially make a doubling of the stock price within two years a conservative prediction.

2. Celsius Holdings

Celsius Holdings (NASDAQ: CELH) has stood out as offering an alternative approach to energy drinks. Unlike competitors such as Red Bull or Monster Beverage, Celsius Holdings places an added emphasis on natural ingredients.

In 2022, a distribution deal with PepsiCo made the company's beverages more widely available in stores and online, contributing to significant gains in the stock. Its growth came to a temporary halt when a large distributor reduced its orders. However, the acquisition of competitor Alani Nu has revived growth in the company and, by extension, its stock.

Admittedly, acquisition costs have temporarily stopped the company's financial growth. The addition of Alani Nu was primarily responsible for the 41% yearly revenue increase in the first half of 2025. Nonetheless, comprehensive income for the period fell 3% to $125 million, as acquisition-related costs weighed on the bottom line.

So far, investors have dismissed the temporary slowdown, as Celsius Holdings' stock price doubled over the last year. Moreover, investors seemed to have dismissed the 143 P/E ratio, as the company's growth has taken the forward P/E ratio to 52.

Such conditions should ultimately boost the beverage stock. Between the rising sales and falling earnings multiples, Celsius can easily double as sales increases lead to a revival in profit growth.

3. Micron

Memory-chipmaker Micron Technology (NASDAQ: MU) may come as a surprise. While the semiconductor industry is cyclical, in general, it's so severe in the memory market that past downturns have often wiped out most or all of the stock gains earned in the previous up cycle.

Fortunately, this dynamic has changed, thanks to the development of high-bandwidth memory (HBM). The rise of AI has led to a massive increase in demand for HBM chips. Since the only other makers of HBM chips are South Korea-based Samsung and SK Hynix, Micron is in a unique position to meet the rising demand for them.

This dynamic resulted in a 49% increase in revenue for fiscal 2025. As a result, profitability has skyrocketed, and the company earned over $8.5 billion in net income, up from just $778 million in the previous fiscal year.

Thanks to the stock's gain of more than 80% in the last year, investors have taken notice of Micron's value proposition.

However, Micron has not typically traded at valuations comparable to other AI stocks, and even today, it trades at just 25 times earnings. Still, the rising demand for AI chips should continue to bring significant profit growth, and that will probably push Micron's valuation and, by extension, its stock price higher.

Will Healy has positions in Advanced Micro Devices and Celsius. The Motley Fool has positions in and recommends Advanced Micro Devices, Celsius, and Monster Beverage. The Motley Fool has a disclosure policy.