We recently published a list of 9 Stocks That Could 10X Over the Next 2 Years. In this article, we are going to take a look at where Spotify Technology S.A. (NYSE:SPOT) stands against other stocks that could 10X over the next 2 years.
US Tariffs and the Stock Market Turmoil
While tariffs from the US government disrupted international trade, they also led to uncertainty and turbulence in financial markets, with the S&P 500 closing below 5,000 points for the first time in nearly a year. An analysis from the World Economic Forum regarding how tariffs cause volatility in financial markets was stated in the words of Santiago Fernández de Lis, Head of Regulation, BBVA, as follows:
“The main impact of trade tensions on global markets is through uncertainty. When major economies—like the US and China—engage in a tariff war, investors fear slower global trade, disrupted supply chains and weakened corporate profits. This anxiety translates into market volatility. Companies delay investment decisions, consumers lose confidence, and currencies fluctuate wildly.”
However, global markets rebounded later as the US president made an announcement of a 90-day pause on additional higher tariffs that had to impact almost 80 countries, with the exception of China. In the case of China, the new president is convinced to keep high tariffs as he stated that these tariffs would be increased to 125% from 104% following China’s announcement of additional retaliatory tariffs against the US.
Following this pause in tariffs, Wall Street witnessed a sigh of relief. The S&P 500 rose 9.52%, thereby marking its biggest one-day gain since 2008. The Dow Jones Industrial Average climbed almost 7.87% to close at 40,608.45. Simultaneously, the tech-heavy Nasdaq soared 12.2% and had its best day since January 2001.
Our Methodology
To compile our list of the 9 stocks that could 10X over the next 2 years, we first carried out a consensus by sifting through multiple similar articles online. Once we had an extended list of the stocks that could 10X over the next 2 years, we shortlisted the top 9 stocks based on the number of hedge funds that have stakes in them, as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A person wearing headphones listening to an audio streaming service.
Spotify Technology S.A. (NYSE:SPOT)
Number of Hedge Fund Holders: 101
Spotify Technology S.A. (NYSE:SPOT) is a dominant player in audio streaming, having over 675 million users which includes 263 million subscribers in more than 180 markets. Spotify offers access to more than 100 million tracks, 6.5 million podcast titles, and 350,000 audiobooks.
As the most popular audio streaming subscription service globally, Spotify Technology S.A. (NYSE:SPOT) continues to accelerate the growth of the audiobook business. While the firm witnessed early adoption of podcasts and audiobooks in Germany, the current demand for audiobooks across German-speaking markets remains strong. On April 15, the company announced the launch of an enhanced audiobooks offering in Germany, Austria, Switzerland, and Liechtenstein under which eligible Premium listeners would be able to access 350,000 audiobooks, including titles in French, German, and Italian. The firm is also enhancing the listening experience through an expanded catalog with Audiobooks in Premium, allowing listeners a range of benefits, including pre-saving upcoming releases, saving their progress in an audiobook, and exploring recommendations from the Home feed. To support audiobook production in countries where the audiobook market is still growing, Spotify Technology S.A. (NYSE:SPOT) has declared that it will invest €1 million to accelerate the production of audiobooks in non-English languages, beginning with French and Dutch.
Overall, SPOT ranks 8th on our list of stocks that could 10X over the next 2 years. As we acknowledge the potential of SPOT as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SPOT but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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