2 Top Tech Stocks That Could Make You a Millionaire

The tech sector often lures in investors who are dreaming of millionaire-making gains. After all, great tech stocks like Apple, Amazon, and Nvidia have generated huge multibagger gains over the long term.

But with multitrillion-dollar market caps, those tech giants probably won't generate more millionaire-making gains anytime soon. So instead of chasing those market leaders, investors should focus on smaller companies with more growth potential.

Two of those stocks are D-Wave Quantum (NYSE: QBTS) and Reddit (NYSE: RDDT) -- which could churn out millionaire-making gains in a few decades. Let's take a closer look.

Image source: Getty Images.

1. D-Wave Quantum

D-Wave Quantum is one of the early movers in the nascent quantum computing market. Unlike traditional computers, which store data in binary bits of zeros and ones, quantum computers store them simultaneously in qubits. That key difference enables quantum computers to process larger amounts of data at a much faster rate than their binary counterparts, but those systems are too large and expensive to be used for mainstream computing applications. That's why they're still primarily used for niche experiments at research institutions and government agencies.

However, D-Wave's quantum annealing tools are already being used to help businesses optimize their schedules, workflows, supply chains, and logistics networks. It accomplishes that by running its quantum processes through its systems, seeing which outcome consumes the least computing power, and recommending that solution as the most efficient one.

That unique strategy makes it a quantum-powered efficiency expert that could disrupt older analytics companies. It bundles together its own hardware products and cloud services in its Leap platform, which can be directly integrated into larger public cloud infrastructure platforms. More than 100 organizations, including Deloitte, Mastercard, Lockheed Martin, and Accenture, already use its services.

Last November, D-Wave successfully calibrated its newest 4,400-qubit Advantage2 processor, which can solve complex 3D lattice problems approximately 25,000 faster than its first-gen Advantage processor. From 2024 to 2027, analysts expect the company's revenue to surge at a compound annual growth rate (CAGR) of 102% from $8.8 million to $72.1 million.

With a market cap of $3.24 billion, D-Wave stock might seem expensive at 45 times its estimated sales for 2027. But the quantum annealing market could still expand at a CAGR of 34.8% from 2024 to 2032, according to Fortune Business Insights, and D-Wave has already established a first mover's advantage and locked in a lot of big clients.

Therefore, this little quantum computing stock could be poised to generate big multibagger gains over the next few decades.

2. Reddit

Reddit's platform blends news aggregation, discussion forum, and social media tools. That unique mix turned it into a popular place to seek peer-to-peer discussions and advice about myriad topics. As a result, its number of year-end daily active unique users nearly doubled from 53.9 million in 2021 to 101.7 million in 2024.

Nearly half of those users were logged in to its site, which made them easier to monetize with ads than its logged-out users who were merely browsing its subreddits.

A lot of Reddit's recent growth was driven by major news stories, geopolitical conflicts, and other events that drew more users into its online conversations. The company also struck data-sharing deals with Alphabet's Google and OpenAI, which integrated its subreddit discussions into Alphabet's search results and OpenAI's generative AI chatbot.

Reddit's business model initially seemed wobbly when it went public last March. But as it expanded its audience and attracted more advertisers, economies of scale kicked in to reduce costs and lift its margins. That's why the company finally turned profitable in the second half of 2024.

From 2024 to 2027, analysts expect Reddit's revenue to rise at a CAGR of 32%. They also its EPS to increase at a CAGR of 62% over the following two years.

With a market cap of $20 billion, Reddit's stock might not seem like a bargain at 10 times this year's sales. That said, Reddit's unique advantages against social media companies like Meta Platforms and search engines like Google might justify that premium if it evolves and expands into a much larger digital advertising company over the next few decades. If that happens, this pioneer in social news aggregation could also have a clear shot at generating some millionaire-making gains.

Should you invest $1,000 in D-Wave Quantum right now?

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Leo Sun has positions in Amazon, Apple, and Meta Platforms. The Motley Fool has positions in and recommends Accenture Plc, Alphabet, Amazon, Apple, Mastercard, Meta Platforms, and Nvidia. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy.