The unwavering pursuit of stocks to make you a millionaire is both exhilarating and challenging. Identifying these superstar stocks requires a keen eye for spotting trends, understanding key financial metrics and being patient.
These unique companies possess a rare combination of visionary leadership, disruptive innovation and solid fundamentals. Additionally, they are at the forefront of emerging trends in artificial intelligence, fintech and human capital management. While there is no guarantee of achieving this highly coveted financial status, careful selection can put you on the path to riches.
Now, let’s discover the best superstar stocks to make you a millionaire by 2035!
Meta Platforms (META)
Meta Platforms (NASDAQ:META), formally known as Facebook, is a tech behemoth that needs little introduction. The company has shaped the social media landscape and owns notable brands like WhatsApp and Instagram. Additionally, it is a leader in the AI revolution with a notable catalyst upcoming later this year.
Over the last decade, Meta has shown a willingness to adapt and an unwavering focus on technological innovation. While the company’s metaverse bets have yet to pay off, the company is embracing the proliferation of generative AI and LLMs. Investors are excited about the growth prospects of its LLM Llama 3, on pace to debut sometime in July of this year. That will be a huge milestone for the company, allowing it to compete directly with OpenAI’s ChatGPT and Google’s (NASDAQ:GOOG, NASDAQ:GOOGL) Gemini models. Moreover, the company is coming off a transformative year in FY23, as cost-cutting drove record revenue and FCF from operations. When considering the best stocks to make you a millionaire in 2024, Meta should certainly be the first place to look.
Paychex (PAYX)
Paychex (NASDAQ:PAYX) is a leader in payroll processing and human resource solutions for businesses of all sizes. It might not be as flashy as Meta, but it has a solid track record of consistent revenue growth and profitability.
Paychex makes a compelling investment case for a variety of reasons. Firstly, the outsourcing of payroll and HR tasks is inevitable for nearly every business whether big or small. That allows them to save time and focus on more important aspects of the business like growing revenue and delivering the products and services that their customers need. Secondly, the company has proven adept at integrating new technologies, including cloud solutions and AI for better onboarding experiences. In its latest quarterly results, revenue increased 4% YOY to $1.44 billion. EPS rose 7% to $1.38 per share, with continued operating margin expansion in the quarter. Moreover, the company announced the succession of new AI models, set to bolster customer retention and further optimize its pricing strategies.
Fiserv (FI)
Fiserv (NYSE:FI) is an under-the-radar fintech company that investors continue to gloss over. However, the company is currently in a hyper-growth phase and is set to deliver another year of strong double-digit growth in revenue and EPS in FY24.
Fiserv is a financial technology powerhouse facilitating electronic payments and financial services for banks, merchants and businesses. It underpins the backbone of the digital economy and plays a pivotal role in the ongoing shift to cashless transactions. Additionally, the company keeps up with emerging financial trends in innovative areas like cross-border payments and digital banking solutions. FI delivered record revenue, EPS and FCF in 2023, and growth is set to carry over into 2024. In Q1 FY24, Fiserv’s revenue increased 7% YOY to $4.88 billion. EPS swelled 39% YOY to $1.24 per share, with operating margin up 370 basis points to 24.2%. Management reiterated revenue growth between 15% and 17% in FY24 and raised their adjusted EPS outlook to between $8.60 and $8.75 per share. That makes Fiserv one of the top stocks to make you a millionaire by 2035.
On the date of publication, Terel Miles did not hold (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.