10 Best Growth Stocks to Buy for the Next Decade

8. Tesla (NASDAQ:TSLA)

Number of Hedge Fund Holders: 116

Market Cap: $1.49 trillion

Ron Baron, founder of Baron Capital, told CNBC that Tesla could reach $2,000 to $2,500 a share within ten years. Cathie Wood’s Ark Invest has published a similar long-range view, a $2,600 target for 2029 that rests on robotaxis supplying nearly 90% of Tesla’s enterprise value. Take the robotaxi out, and Ark’s own model falls sharply.

The company began giving Robotaxi rides in Cybercabs in Austin late in the quarter, and cumulative unsupervised Robotaxi miles grew eightfold from the prior quarter, driven by sustained double-digit weekly growth. It ended the period with its largest backlog for passenger vehicles in four years and its highest-ever order rate and backlog in energy storage, a business Tesla says is critical to data center uptime.

Management said battery availability, not demand, was the limit on how many cars it could build, and that it made more progress in securing future supply. If that supply arrives, more of the backlog can turn into deliveries, which is the practical bridge between today’s order book and the bigger robotaxi and energy plans long-term holders are waiting on.

Our latest analysis on Tesla (TSLA) is available here: Tesla (TSLA) Needs Stronger Earnings to Justify Its Autonomy Ambitions

7. Broadcom (NASDAQ:AVGO)

Number of Hedge Fund Holders: 170

Market Cap: $1.53 trillion

Cathie Wood’s Ark Invest has repeatedly added to Broadcom, although the firm sold some shares during the November 5 market selloff, and its Big Ideas report projects that data center spending on AI will rise nearly threefold by 2030, with the custom chips Broadcom designs for the biggest cloud companies set to capture a share of it. Stanley Druckenmiller’s family office opened a new Broadcom position.

The numbers back the pitch. In the fiscal third quarter, Broadcom’s AI semiconductor revenue reached $16.7 billion, up 221% from a year earlier. Chief Executive Officer Hock Tan expects the fiscal fourth quarter to climb to $21.7 billion and has laid out an AI revenue outlook of about $115 billion for fiscal 2027. Free cash flow also set a record for the company.

What makes those targets believable to the bulls is how much supply is already lined up. Tan has also set a fiscal 2028 AI target well above that level and said Broadcom has line of sight to the supply it needs, which the bulls read as a base that grows with every new chip generation rather than a one-year spike or a single strong quarter’s worth of orders.

Read our analysis on Broadcom (AVGO) here: Broadcom’s AI Revenue Surges 221%, But is Growth Becoming Too Dependent on AI Spending?

6. Meta Platforms (NASDAQ:META)

Number of Hedge Fund Holders: 254

Market Cap: $1.64 trillion

Bill Ackman’s Pershing Square disclosed a stake worth about a tenth of its capital and said Meta’s share price undervalues the long-term upside from AI. Its presentation called Meta’s business model “one of the clearest beneficiaries of AI integration,” pointing to better content recommendations, more personalized ads and possible new products such as wearables and AI assistants for businesses. Philippe Laffont’s Coatue Management has also made Meta one of its biggest holdings.

Meta’s third-quarter report supports the idea. Revenue rose 26% to $64.6 billion, helped by a 14% increase in the average price of an ad, which suggests advertisers are getting better results and paying more for them. Impressions grew more slowly than price, so the gain came mostly from higher prices rather than more ads. The growth came even as the company kept raising its spending on data centers and servers.

Meta also sees the momentum continuing. It guided fourth-quarter revenue to a range well above the third quarter’s level and said it will keep investing aggressively through 2027. About 3.64 billion people use at least one of its apps every day, the audience those AI gains are being applied to.

You can read our analysis on Meta Platforms (META) here: Meta (META): Can WhatsApp Become a Meaningful Business Beyond Advertising?

5. Taiwan Semiconductor Manufacturing (NYSE:TSM)

Number of Hedge Fund Holders: 249

Market Cap: $2.03 trillion

Stanley Druckenmiller’s family office has made TSMC its second-largest holding, and he has said he sees “massive disruption” ahead for the chip industry. Cathie Wood’s Ark Invest bought more after a strong earnings report, and David Tepper’s Appaloosa made it his biggest addition of the second quarter. The pitch is simple: whichever company wins the race to design the best AI processor, it still needs someone to build it.

The latest quarter shows how big that position has become. Revenue was $46.72 billion, up 41.2% in US dollars, and net income rose 68.7%, a record for the sixth straight quarter. High-performance computing, the category that includes AI accelerators, made up 68% of sales. Chief Financial Officer Wendell Huang said the quarter was supported by strong demand for the company’s leading-edge process technologies.

Management sees more of the same ahead. TSMC guided fourth-quarter revenue above the third quarter’s level, and its newest process technology, 2-nanometer, is already part of the sales mix, with Huang calling the ramp steep. Customers moving to each new generation of chips is how the bulls expect the growth to last through the decade.

Our latest analysis on Taiwan Semiconductor Manufacturing (TSM) is available here: TSMC’s Profit Soars 69%, but Can its Next Chip Breakthrough Justify the Valuation?