Tech Stocks That Could Double by 2030: 2 Easy Choices
Pinpointing stocks that can double in under five years is a key skill for investors, allowing them to beat the market with a safety margin. The market tends to double once every seven years, so if it can double in five, there is some wiggle room to allow for outperformance.
However, few stocks have this potential, as growth and valuation must be considered when assessing the company. Furthermore, projecting where a business will be five years out is nearly impossible. Take Nvidia (NASDAQ: NVDA) for example. If you knew exactly where Nvidia would be five years in the future, you would have taken out a loan for the biggest amount possible and bought every share of Nvidia you could, as it turned every $10,000 invested into more than $160,000 over the past five years.
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So, what stocks have the potential to double over the next five years? I've got two solid picks.
Nvidia
Although Nvidia had a monster run-up over the past five years, I think the next five years are just as bright. While Nvidia's jaw-dropping 200% or greater growth is likely over, it still posts incredible results each quarter.
Nvidia's strength can be directly tied to the AI arms race, which involves using Nvidia's graphics processing units (GPUs) to train and run AI models. Most estimates state Nvidia has a data center market share of over 90%, which showcases its dominance. Furthermore, data center buildouts aren't slowing down and are expected to increase over the next few years. This bodes well for Nvidia's future, although it's also doing incredibly well right now.
In the company's first quarter of fiscal 2026 (ending April 28), Nvidia's revenue increased 69% year over year to $44 billion. That growth would have been even greater if the U.S. government hadn't imposed export restrictions on Nvidia's H20 chips, but that's water under the bridge. Looking forward, Nvidia still expects 50% growth for Q2, which is impressive considering how rapidly Nvidia has grown over the past few years.
Nvidia is still growing and is likely to post revenue growth above the threshold necessary to double within five years (a 15% growth rate is necessary to double in five years). As a result, I think it's an easy pick for a stock that can double in five years.
Taiwan Semiconductor
Taiwan Semiconductor (NYSE: TSM) is also an easy pick for a company that can double within the next five years. Nearly every major tech company that uses cutting-edge chips in its devices (like Nvidia) gets its chips from TSMC. As a result, Taiwan Semiconductor is very clear about what chip demand holds over the next few years.
Management issued guidance at the beginning of 2025 that AI-related revenue would grow at a 45% compound annual growth rate (CAGR) over the next five years, which helps power overall revenue growth to a near-20% CAGR over that same time frame. That puts TSMC well above the threshold of a 15% CAGR needed to achieve a doubling within five years.
As an added bonus, Taiwan Semiconductor isn't all that expensive, trading for 22.9 times forward earnings.
NVDA PE Ratio (Forward) data by YCharts
That's much cheaper than Nvidia, which has a premium valuation due to its high growth levels. It's also around the same price as the S&P 500, which trades at 22.5 times forward earnings.
Taiwan Semiconductor and Nvidia are no-brainer picks for stocks that can double within five years. With how heavily AI-related tailwinds are blowing in these two companies' favor, I'd be shocked if they didn't double, which is why they are two of the largest holdings in my personal portfolio.
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