Stocks to buy

7 High-Growth Tech Stocks to Buy to Become a Millionaire

Sharply contrasting with the play-it-safe approach, daring investors might be interested in millionaire-maker tech stocks. With digital innovation accelerating at a rapid clip, the technology ecosystem offers arguably the best chance for market upside. From sectors such as artificial intelligence, advanced energy solutions, and the blockchain, tech has undergirded myriad success stories.

To be sure, these high-growth tech stocks present incredible risk. Sure, plenty of more predictable market ideas exist. However, predictability also often translates to low returns. In order to see massive, life-changing returns, you need to dial up the risk factor. And that means these securities carry a substantial magnitude of unpredictability. However, you’d be surprised at how many experts support speculative tech enterprises’ command. If you’re ready to roll the dice, these are the millionaire-maker tech stocks to buy.

GDYN Grid Dynamics $8.38
ACMR ACM Research $9.73
VCSA Vacasa $0.73
CINT CI&T $3.57
STEM Stem $3.96
PRCH Porch Group $1.21
GCT GigaCloud Technology $5.27

Grid Dynamics (GDYN)

Source: Khakimullin Aleksandr / Shutterstock

Headquartered in San Ramon, California, Grid Dynamics (NASDAQ:GDYN) is a global digital engineering company. Per its website, Grid co-innovates with the most respected brands in the world to solve complex problems, optimize business operations and better serve customers. Leveraging advanced mechanisms such as AI, Grid delivers powerful results for its enterprise-level clients.

Unfortunately, the market doesn’t quite see it that way, sending GDYN down 27% since the beginning of this year. However, it could be an enticing opportunity to pick up millionaire-maker tech stocks to buy. For one thing, Grid might be undervalued. Right now, the market prices GDYN at 2.09 times tangible book value. In contrast, the sector median stat is 3.61 times. Operationally, Grid knocks it out of the park. Per Gurufocus, its three-year revenue growth rate clocks in at 24.4%, above 80.6% of companies listed in the software industry.

Finally, Wall Street analysts peg GDYN as a unanimous strong buy. Their average price target lands at $15, implying 83% upside potential.

ACM Research (ACMR)

Source: Khakimullin Aleksandr / Shutterstock

A lesser-known but powerfully relevant enterprise, ACM Research (NASDAQ:ACMR) provides wet processing technology, systems, and key manufacturing products targeted to a range of semiconductor integrated circuit manufacturing and wafer-level packaging applications. Despite its critical services to the broader tech space, ACMR only gained less than 2% since the Jan. opener.

However, that might change as ACMR could very well be one of the millionaire-maker tech stocks to buy. Notably, daring contrarians can buy shares at a discount. According to Gurufocus, the market prices ACMR at a forward multiple of 9.89. As a discount to projected earnings, ACM ranks better than 70.69% of companies listed in the semiconductor space. Also, its three-year revenue growth rate clocks in at a robust 47%. In addition, its EBITDA growth rate during the same period is 47.2%, above 79.45% of its peers.

Lastly, analysts peg ACMR as a consensus strong buy. Their average price target comes in at $19.28, implying nearly 98% upside potential.

Vacasa (VCSA)

Source: MEE KO DONG / Shutterstock

Headquartered in Portland, Oregon, Vacasa (NASDAQ:VCSA) easily ranks as one of the riskiest high-growth tech stocks available. Trading hands at only 75 cents per share, prospective investors must be aware of the risks. Nevertheless, it’s also intriguing. As its website points out, it serves the vacation rental industry but leverages various technologies for operations.

To be fair, the financials represent a mixed bag. For example, Vacasa carries a cash-to-debt ratio of 7.4. In contrast, the sector median for the software industry is 2.82 times. As well, the company sports a debt-to-equity ratio of 0.08. This comes in favorably lower than the sector median of 0.22 times. Also, its three-year revenue growth rate clocks in at 56.3%, though sustainability will be a question.

On the less-than-desirable segment, Vacasa incurs negative operating and net margins. Also, its undervalued ratios (such as against sales and book) seem suspect.

To close out, analysts peg VCSA as a consensus moderate buy. Their average price target stands at $1.48, implying nearly 99% upside potential. Therefore, it’s one of the millionaire-maker tech stocks for those willing to take huge risks.


Source: smshoot/

Hailing from Brazil, CI&T (NYSE:CINT) is an information technology and software development company. Beyond its home base in Brazil, CI&T operates in the U.S., Canada, the U.K., Portugal, China, Colombia, Japan, and Australia. Per its public profile, the company features expertise in the automotive, hi-tech, financial, insurance, manufacturing, media, retail, life sciences, and healthcare sectors.

Unfortunately (or fortunately if you’re a speculator of millionaire-maker tech stocks), the market remains unimpressed. Since the January opener, CINT gave up more than 52% of its market value. In the trailing one-year period, CINT hemorrhaged more than 76%. Now, it does trade at a trailing multiple of 15.42, lower than the software sector median of 26.67. But that might be for a reason. Operationally, CI&T prints a three-year revenue growth rate of 35.4%, above 88.57% of its rivals. Therefore, it does have some of the ingredients of high-growth tech stocks.

Turning to Wall Street, analysts peg CINT as a consensus strong buy. Their average price target lands at $7.63, implying 118% upside potential.

Stem Inc. (STEM)

Source: Shutterstock

Based in San Francisco, California, Stem Inc. (NYSE:STEM) bills itself as a global leader in AI-driven clean energy solutions and services. It offers integrated solutions to improve returns and maximize the economic, environmental, and resiliency value across energy assets – including storage, solar, and electric vehicle charging. Despite its relevancies, STEM finds itself down more than 51% since the Jan. opener.

Overall, STEM hasn’t generated much credibility, at least in the eyes of early investors. In the past year, shares tumbled nearly 47%. Over the past five years, they’re down 58%. Frankly, much of this comes down to its shaky financials. For instance, its Altman Z-Score sits at 0.07 below zero, indicating distress.

On the positive side, Stem’s three-year revenue growth rate pings at 86.3%, above nearly 97% of its peers. Again, though, sustainability is a concern. Still, if you want to take a potshot with millionaire-maker tech stocks, this might be it. Looking to the Street, analysts peg STEM as a consensus moderate buy. Their average price target lands at $10.98, implying over 167% upside potential.

Porch Group (PRCH)

Source: Freedom365day /

Headquartered in Seattle, Washington, Porch Group (NASDAQ:PRCH) aims to make the moving process simpler through technology. Through a digital concierge system, app users can quickly compare and set up movers, TV and internet providers, and home insurance companies in one place. However, the market hasn’t quite caught on with PRCH. Since the Jan. opener, shares fell more than 33%.

In the trailing one-year period, PRCH bled out 72% of market value, naturally worrying risk-averse investors. Of course, much of the problem centers on the state of the housing market, what with high prices and interest rates and all. Also, PRCH represents one of the riskiest millionaire-maker tech stocks because of its weak balance sheet.

That said, Porch prints a three-year revenue growth rate of 43.9%, ranked above 91.48% of companies in the software industry. Therefore, it holds the key ingredient for high-growth tech stocks. Lastly, analysts peg PRCH as a consensus moderate buy. Their average price target hits $3.63, implying over 190% upside potential.

GigaCloud Technology (GCT)

Source: Shutterstock

Based in Hong Kong, GigaCloud Technology (NASDAQ:GCT) bills itself as the global commerce hub for furniture and large home goods. Fundamentally, the company might help drive efficiencies regarding last-mile deliveries for large parcels. However, with a market cap of only $184.43 million, GCT ranks among the riskiest millionaire-maker tech stocks to buy.

Since the Jan. opener, GCT lost 3% of its equity value. That doesn’t sound too bad until you look at the past 365 days, where GCT plunged more than 66%. Still, for daring contrarians of high-growth tech stocks, GigaCloud might be worth a shot with pocket change. For example, the company features a trailing-year net margin of 4.89%, which ranks above 63.3% of entities listed in the software industry.

Also, it sports a monstrous three-year revenue growth rate of 87.6%, beating out 97% of its peers. It might not be sustainable but it’s also possible that GigaCloud can maintain a high-growth profile. On a final note, eight months ago, Aegis Capital’s Rommel Dionisio pegged GCT as a buy with a $26 price target. That would imply a growth potential of over 391%.

On the date of publication, Josh Enomoto 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 Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

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