$10,000 Invested in These Growth Stocks Could Make You a Fortune Over

If you have $10,000 to invest, of course you want to do it wisely. If you want a better-than-average return on your investment, you need to find growth stocks that have already proven themselves and have business models that point to reasons for continued growth.

Start with MercadoLibre (NASDAQ:MELI), Advanced Micro Devices (NASDAQ:AMD), and Seagate Technology (NASDAQ:STX), companies whose shares have risen more than 10% this year and more than 100% over the past five years.

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1. MercadoLibre is just getting started

MercadoLibre is often called the Amazon of Latin America, it is an e-commerce and fintech giant. The company, which started out as an Argentine company in 1999, is now in 18 countries in the region. Over the past five years, Mercado Libre has seen a quarterly revenue increase of 637% and share growth of nearly 800%.

The company just completed its second quarter on June 30, reporting record numbers in revenue and volume. MercadoLibre said it had net revenue in the quarter of $1.7 billion (figures were reported in USD), up 102.6% year over year. Also, sales volume was $7 billion, up 46% over the same period in 2020.

The company has especially been strong in Argentina and Mexico, two countries where it has seen triple-digit percentage increases in revenue in the quarter, year over year.

MercadoLibre also generated net income of $68.2 million, compared to $55.9 million in the same period last year. The growth in the number of COVID-19 cases in Latin America, while tragic, has increased conversion toward more e-commerce and online payment systems. Last year, an estimated 13 million people in Latin America made an online purchase for the first time.

The poor roads and difficult terrain make it costly to ship products throughout South America. In many ways, this provides MercadoLibre a moat over new entrants in the region, such as Amazon. The company, whose shipping arm is known as Mercado Envios, bought Kangu, a Brazilian logistics company that operates in Brazil, Colombia, and Mexico, giving it more delivery vehicles and personnel in key nations. The transaction was completed in August for an undisclosed amount.  

What makes MercadoLibre a great long-term stock is it has only begun to scratch the surface of the capability of e-commerce in South America. One report by OMR Global puts the compound annual growth rate (CAGR) for e-commerce in the region to be 25.6% over the next six years. Making it, a stock with long-term potential and one for investors to buy.

2. Advanced Micro Devices has a bright future

Demand for semiconductor chips has gone through the roof since the pandemic started. Primarily there’s been a surge for the company’s central processing and graphics processing units. Several things have driven this surge, the 5G rollout, the growth of cloud computing, and increased purchases of laptops and tablets. These things will likely still be there long…