3 Stocks to Buy if You Want to Turn Your $1,000 into $10,000 Within 2 Years


  • Here are just a few of the top stocks that could make you wealthier.
  • Digital Realty Trust (DLR): The AI boom means you should keep an eye on data center REITs.
  • Viking Therapeutics (VKTX): Goldman Sachs just raised its obesity drug market estimate to $130 billion.
  • Nio (NIO): After a rough few months, the Chinese EV stock is seeing a rebound in deliveries.
stocks to buy - 3 Stocks to Buy if You Want to Turn Your $1,000 into $10,000 Within 2 Years

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One of the best ways to spot winning stocks to buy is by spotting hot trends.

Just look at artificial intelligence, machine learning, biotech, obesity treatment and solar energy booms that still offer solid opportunities. 

Or look at lithium stocks that could soon explode again on supply-demand issues. Or, flying cars that could soon take flight. There’s even the quantum computer story and new opportunities with AI an gene editing.

Granted, many of these hot trends have already created incredible wealth.

Just look at Nvidia (NASDAQ:NVDA), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Advanced Micro Devices (NASDAQ:AMD). Or look at Eli Lilly (NYSE:LLY) and Viking Therapeutics (NASDAQ:VKTX), which exploded with the obesity story. Even better, with many hot trends still in their infancy, there’s still plenty of opportunity to be had in these hot stocks to buy.

In addition to those, here are three more stocks to buy today.

Digital Realty Trust (DLR)

A hallway with server racks on either side in a data center
Source: dotshock / Shutterstock

With the artificial intelligence boom showing no signs of slowing, keep an eye on data center real estate investment trusts (REITs) like Digital Realty (NYSE:DLR).

According to Goldman Sachs, data center demand is expected to rise at a 15% CAGR through 2030. Additionally, Jones Lang LaSalle CEO Christian Ulbrich said, “Data centers are emerging as the ‘hottest asset class’ as demand soars driven by US corporates embracing artificial intelligence.”

Digital Realty’s President and CEO recently said:

“AI has become a significant driver of demand as hyper scalers race to develop, deploy and implement the technology while enterprise begins to explore the potential of this wave of technological evolution.”

Thanks to that demand, the REIT’s total bookings of $252 million were “well ahead” of its prior quarterly record of $176 million. Again, with AI demand only set to grow, greater demand for data centers will drive Digital Realty to new heights. 

Viking Therapeutics (VKTX)

dollar sign written with pills spilled from a medicine bottle. millionaire maker drug stocks
Source: Shutterstock

Obesity treatment stock, Viking Therapeutics is another one of the must-own stocks to buy. While it already ran from about $5 to a high of $99.41, its recent pullback to $52.73 is a buying opportunity. All thanks to its experimental weight loss treatment, VK2735, a peptide GLP-1/GIP dual agonist in trials for injections and oral dosages.

Helping, Goldman Sachs just raised its obesity drug market estimate to $130 billion from $100 billion. All on the belief that about 19 million Americans could be on anti-obesity drugs by 2030, up from a prior estimate of 15 million.

Even better, Viking is turning heads with its potential treatment for non-alcoholic steatohepatitis, or NASH. In a recent Phase 2b VOYAGE study of its VK2809 treatment in patients with biopsy-confirmed non-alcoholic steatohepatitis, the company “achieved its primary endpoint, with patients receiving VK2809 experiencing statistically significant reductions in liver fat content from baseline to Week 12 as compared with placebo.”

Both treatments for NASH and obesity could send VKTX screaming to higher highs.

Nio (NIO)

A mobile with NIO at horizontal composition.
Source: Freer / Shutterstock.com

With electric vehicle sales starting to accelerate again, keep an eye on Nio (NYSE:NIO).

After a rough few months, the Chinese EV stock is seeing a rebound in deliveries. In its first quarter, for example, the company’s EV sale topped lowered guidance with 30,053 deliveries. It also expects to rollout newer 2024 models, including the ES7, ET7 and ET5.

Analysts at DBS Holdings say NIO could see another 90% of upside, reiterating a “buy” rating. The firm added that vehicle margins could rebound to a range of 15% to 18% as the production of newer vehicles come online in upcoming quarters.

Recent earnings were mixed. Its diluted EPS loss of 33 cents beat by six cents. Meanwhile, revenue of $1.37 billion, down about 7.2% year-over-year, missed by $70 million. 

Moving forward, Nio does expect to deliver between 54,000 and 56,000 EVs, which would represent growth of 129.6% to 138.1% year over year. The company also expects second quarter revenue of $2.3 billion to $2.37 billion, which is above estimates for $1.985 billion.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

Article printed from InvestorPlace Media, https://investorplace.com/2024/06/3-stocks-to-buy-if-you-want-to-turn-your-1000-into-10000-within-2-years-2/.

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