Many investors aspire to build a 7-figure portfolio. Reaching this milestone offers significant financial protection. A $1 million portfolio that yields 4% provides $40,000 in cash flow each year. Growth stocks are the way.

You don’t have to invest in dividend stocks to reach a 7-figure portfolio. In fact, many growth stocks offer more potential and can offer dividends in the future. Investors can benefit from prioritizing stocks with strong financial growth, compelling runways, and reasonable valuations. These are some of the stocks that can take you from six figures to seven figures.

Alphabet (GOOG, GOOGL)

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is an undervalued growth stock that has been ignored thanks to a few mishaps with artificial intelligence tools. The corporation has a resilient advertising business that has successfully rebounded after a sluggish 2022.

The tech giant’s ad revenue led the company to 13% year-over-year revenue growth in Q4 2023. Alphabet has been profitable for a while, but the firm expanded its net profit margins significantly thanks to cost-cutting measures. Net income increased by 52% year-over-year.

Advertising isn’t the only growth driver. The Google Cloud platform is growing at a faster rate and has become quite profitable. Alphabet has the capital and resources to capitalize on new business opportunities as they arrive. 

The company’s controversies with Gemini will fade out of the news cycle. When that happens, more investors will recognize Alphabet stock’s long-term potential. Shares are up by 41% over the past year and have gained 136% over the past five years. It’s one of those growth stocks to consider.

Amazon (AMZN)

Amazon (NASDAQ:AMZN) is another stock that has served long-term investors well. Shares are up by 74% over the past year and have gained 16% year-to-date. The tech conglomerate has expanded its profit margins and now has a 42-forward P/E ratio.  

The firm knows how to create its own services and make acquisitions to fill in gaps. Amazon acquired Whole Foods to jumpstart its entry into the grocery store business and created Amazon Web Services to get a head start on cloud computing. The latter has been a major growth engine that has powered the stock’s gains over the past decade. There’s a reason why it’s one of those growth stocks to consider.

As companies grow, it becomes more difficult for them to gain market share and reward investors. Amazon defied this trend with a strong showing in the fourth quarter of 2023. Net sales increased by 14% year-over-year to reach $170.0 billion. Amazon Web Services revenue increased by 13% year-over-year. Domestic and international sales both grew, with international sales growing at a higher rate.

Celsius Holdings (CELH)

Celsius Holdings’ (NASDAQ:CELH) historical performance is enough to draw attention. Shares are up by 227% over the past year and have gained almost 6,000% over the past five years. The stock has already turned 6-figure portfolios into 7-figure portfolios. 

Some investors will be quick to point out that past results do not guarantee future success. Every few years, there is a stock that rises substantially only to collapse within a few years. Celsius Holdings has financial growth and captivating growth opportunities that suggest the stock’s success will continue.

The sports beverage company reported 95% year-over-year revenue growth in the fourth quarter of 2023, indicating drinks are still flying off the shelves. That growth rate was close to the full-year 102% year-over-year growth rate. 

Celsius Holdings produces healthier drinks than most of the competition. This distinction has helped the company become a big hit with Gen Z. Domestic growth remains strong, and the company has a small international presence. It’s penetrating in markets outside of North America which presents a long-term buying opportunity, and is one of those growth stocks to buy.

Visa (V)

Visa (NYSE:V) is a fintech leader that can realistically surpass a $1 trillion market cap by the end of the decade. The corporation currently has a $568 billion market cap and plenty of enthusiasm from analysts.

The average price target suggests Visa shares can gain an additional 8.6% from current levels. The highest price target of $326 implies an additional 15.2% gain. High-profit margins that regularly exceed 50%, a 0.73% dividend yield with an excellent annualized growth rate, and robust financial growth have fueled the stock up by 855 over the past five years. 

Visa will continue to grow thanks to people regularly using credit and debit cards for their purchases. Rewards programs and the opportunity to build credit with on-time payments incentivize consumers to use their cards instead of cash. These catalysts helped the corporation report a 9% year-over-year improvement in net sales in the first quarter of fiscal 2024. GAAP net income increased by 17% year-over-year. 

Crowdstrike (CRWD)

Crowdstrike (NASDAQ:CRWD) is the cybersecurity leader. The company reported 33% year-over-year revenue growth in its latest quarter when many cybersecurity firms lowered their guidance and saw their demand slow down. 

While Crowdstrike’s revenue growth was already impressive, the context of headwinds throughout the industry makes recent growth even better. Most of Crowdstrike’s revenue is recurring which offers a solid foundation. The firm closed out fiscal 2024 with $3.44 billion in annual recurring revenue. That’s a 34% year-over-year increase. 

Cybersecurity is a necessity for many businesses. This technology keeps hackers away from sensitive information. While hackers sometimes infiltrate databases that use cybersecurity solutions, they significantly reduce the amount of damage that takes place.  This makes it one of those growth stocks to buy.

Crowdstrike and other firms can pinpoint threats long before they become serious and save companies a lot of money. Avoiding cyber attacks can also preserve a corporation’s reputation among its customers. The Falcon platform can save businesses a lot of money in the long run and offer a considerable amount of digital protection.

Meta Platforms (META)

People use social media to stay on top of the news, connect with friends, grow their businesses, and meet new people. These platforms have connected more parts of the world. While it’s possible to choose from many social media companies, Meta Platforms (NASDAQ:META) is the best choice in the stock market.

Meta Platforms is the most recognizable social media firm thanks to Facebook, Instagram, and WhatsApp. The stock is up by 1365 over the past year thanks to a strong rebound in advertising revenue and meaningful profit margin improvements.

Net income more than tripled year-over-year in the fourth quarter of 2023. Revenue grew by 25% year-over-year which is an acceleration from the firm’s full-year revenue growth of 16% year-over-year. 

Active users are growing across the corporation’s social networks. Advertisers are back after slowing down their spending in 2022, and the market should heat up thanks to the 2024 Election and the Olympic Games. Meta Platforms has the makings of a long-term winner.

Synopsys (SNPS)

Synopsys (NASDAQ:SNPS) is a semiconductor giant that has been in business for over 35 years. The company’s high-performance silicon chips are in innovative technology like self-driving cars, machine learning devices, and various devices.

Semiconductor stocks have been logging big gains thanks to the artificial intelligence boom. It feels like Synopsys has somewhat missed out since it is ‘only’ up by 47% over the past year. That return is still beating the market, but there are other semiconductor stocks that have doubled over that same stretch. Synopsys has a much better 400% gain over the past five years.

Financials came in good in the first quarter of fiscal 2024. Revenue was up by 21% year-over-year while GAAP EPS exceeded the high end of guidance. Net income increased by 65% year-over-year.

Synopsys is also working on its $35 billion acquisition of Ansys (NASDAQ:ANSS) which will help the corporation expand its market share. Ansys reported 16% year-over-year revenue growth and 6.5% year-over-year net income growth in the fourth quarter of 2023. That firm is still growing, and it will become a big piece that aids Synopsys’ long-term objectives. 

On this date of publication, Marc Guberti held long positions in GOOG, CELH, and SNPS. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.