7 Great Growth Stocks That Could Double Your Investment

Stocks to buy

A sharp selloff has wiped billions of dollars off of valuations in the past few weeks. Growth stocks have been unfairly targeted. Many of these companies offer excellent operating models and great growth potential.

Many people believe that the market has grown overly conservative and the only way to make money is to invest in value stocks. This belief has caused many growth stocks to take a hit even though they are doing well.

Here are seven growth stocks that make for a great addition to any portfolio:

Ticker Company Price
INTC Intel Corporation $43.94
ORCL Oracle Corporation $72
CRM Salesforce, Inc. $159.53
NVDA Nvidia Corporation $183.66
TTD The Trade Desk, Inc. $50.64
SBUX Starbucks Corporation $76.73
AVLR Avalara, Inc. $83

Growth Stocks to Buy: Intel (INTC)

Close up of Intel sign at their San Jose campus in Silicon Valley

Source: Sundry Photography / Shutterstock.com

Intel (NASDAQ:INTC) was founded in 1968. It has been around for over 50 years and it has been producing computing chips since 1971. The company invented the x86 microprocessor architecture, a standard for personal computers and servers. This makes Intel one of the most important chip companies in the world.

Over the years, the company has established itself as a proven performer. However, in recent years, it has lost space to companies, like Advanced Micro Devices (NASDAQ:AMD), that have taken advantage of its complacency. But the company is looking to make a comeback with its Alder Lake chips.

Intel is also one of the few blue-chip companies offering a substantial dividend, leading to a juicy yield of 3.28%. Few tech stocks can be considered dividend stocks in the true sense of the word. Therefore, INTC stock deserves credit there.

Oracle (ORCL)

The Oracle (ORCL) sign hangs on an Oracle office in Deerfield, Illinois.

Source: Jonathan Weiss / Shutterstock.com

Oracle (NYSE:ORCL) provides database software, hardware, and cloud services. Its databases are used by companies worldwide in various industries, such as finance, healthcare, retail and manufacturing.

These days, you will not find Oracle on many lists of growth stocks. That has to do with the company already having a substantial base of clients to whom they cater. Users and developers are comfortable with the company’s database solutions and they are reluctant to pick a competitor. It gives the company a sticky user base, something every tech stock desires.

However, I include this on my list of growth stocks because the company has a great and growing cloud business. Although it might not be making the type of money Amazon’s (NASDAQ:AMZN) Amazon Web Services is, it provides great diversification, which the company needs.

Growth Stocks to Buy: Salesforce (CRM)

A hand with pink painted fingernails holds a Salesforce (CRM) sticker.

Source: Bjorn Bakstad / Shutterstock.com

Salesforce (NYSE:CRM) is a software company that offers cloud-based customer relationship management (CRM) solutions. It’s a CRM solution available globally, provides support to over 150,000 customers and has more than 20,000 workers. This is one of the most popular solutions with this set of features.

Salesforce has been around since 1999 and has grown to become one of the most widely used CRM solutions in the world. It offers various features for its customers, such as sales pipeline management, customer service, marketing automation, and analytics. The company’s success is largely due to its functionalities and ease of use compared to other CRM platforms.

Salesforce has been building its platform for the past few years by adding tools to help with marketing, communications, and e-commerce. They have also been on the market for quite some time and have helped buyers find the perfect fit for their needs.

Nvidia (NVDA)

Nvidia (NVDA) logo on a laptop screen trading stock market

Source: FP Creative / Shutterstock.com

Nvidia (NASDAQ:NVDA) is the world leader in visual computing and it has been at the forefront of AI research for years. The company is a leading developer of graphics processing units (GPUs) for personal computers. It also produces GPUs for data centers, robots, self-driving cars, and smart devices.

Nvidia’s GPU technology has been used for over two decades to power the world’s most demanding applications, from computer games to movie rendering to scientific research. Nvidia has been an innovator in AI and deep learning, making it a leader in the AI space.

The company has been a thoroughbred performer in the last ten years. Its is up 6,042% over the past decade. So, you can ignore the occasional hiccups with NVDA stock when investing. Additionally, it is one of the world’s most diversified conglomerates and has its fingers in many pies.

However, the most interesting aspect of the company has to be its involvement in the metaverse. The metaverse is the concept of a digital reality that is not constrained by physical laws. It is an interconnected virtual world that contains many individual facets, each with its own rules and social norms. Many companies are investing heavily in this space. Therefore, you cannot afford to miss out on this investment opportunity.

Growth Stocks to Buy: The Trade Desk (TTD)

The logo for The Trade Desk is displayed on a smart phone.

Source: Tada Images / Shutterstock.com

The Trade Desk (NASDAQ:TTD) is one of the largest digital advertising companies in the world. It provides a software as a service platform that uses AI to help advertisers find, buy, and manage digital advertising. The Trade Desk has been able to capitalize on the AI revolution by offering advertisers a way to buy ads across many different channels without worrying about the details.

It provides helpful software to plan, measure, and optimize your data-driven campaigns across connected TV (CTV), desktop and mobile devices. Its platform is built on bid factor technology, making it possible to create expressive targeting parameters. This is something few other platforms offer.

The Trade Desk helps generate consumer data with every single campaign. With AI that can learn from its results and improve outcomes, they’re not slowing down anytime soon. The Trade Desk can help advertisers with a lot of work, so they have the resources to create better AI models.

Due to the unique value proposition, the company is a great growth stock.

Starbucks (SBUX)

Learnin' From Luckin, Starbucks Stock Heats Up a Strategy

Source: monticello / Shutterstock.com

Starbucks (NASDAQ:SBUX) is one of the most popular coffee shops in the world. In 1971, Jerry Baldwin and Gordon Bowker worked at a coffee roasting plant in Seattle when they met Zev Siegl. The three men had a dream to open up their store where they could sell high-quality roasted coffee beans and brewed coffee that they would make themselves. They wanted to create their own company, which would serve as a gathering place for people from all walks of life where they could enjoy good conversation over a cup of good coffee.

Starbucks is one of the most prominent brands globally and has a lot of influence on people’s lives. It is not just a coffee shop, but also an American icon that has been around for more than 50 years. The company started as a humble coffee bean roaster and grew into what it is today — a multinational corporation with “more than 32,000 stores in 80 countries.”

However, Starbucks is in trouble. Investors are concerned regarding a slowdown in China, high rates of inflation and employee dissatisfaction. In response, legendary Chief Executive Officer Howard Schultz has taken the helm for the third time and faces a hefty to-do list.

Nevertheless, Starbucks is one of the most prominent companies in the world. Take advantage of the sharp market correction and purchase this one at a discount.

Growth Stocks to Buy: Avalara (AVLR)

Avalara logo displayed on a phone screen in front of a tie-dye background. AVLR stock.

Source: rafapress / Shutterstock

The internet has made it possible for people to buy anything and everything at the push of a button without having to go to a physical store. E-commerce is growing at an explosive rate, which means that it will continue to grow in the coming years and decades. This is great news for businesses, as they can reach more customers with their products and services than ever before.

One of the things that often gets ignored when discussing e-commerce is taxes. Avalara (NYSE:AVLR) is a niche player in the cloud software market. Their specialty lies in providing tax compliance for e-commerce companies.

Competition is limited, giving Avalara a strong position in this rapidly growing market. Therefore, investors looking for growth stocks should add this one to their portfolio.

On the publication date, Faizan Farooque 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.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

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