3 ‘Inevitable Growth’ Stocks You Can’t Afford to Miss: July 2024

  • A slipping market and potential future rate cuts make now the time to buy these high-growth stocks.
  • Vita Coco (COCO): Remarkable financial strength and increased product supply make COCO worth it.
  • NVIDIA (NVDA): Regular advancements in technology and analysts raising price targets make this stock a buy.
  • Marvell Technology (MRVL): Lofty price targets make MRVL one of the high-growth stocks worth a thought.
growth Stocks - 3 ‘Inevitable Growth’ Stocks You Can’t Afford to Miss: July 2024

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Markets have been slipping recently, but make no mistake. Now is the time to buy growth stocks. These drops are a short-term issue. FED chair Jerome Powell says he sees inflation and economic growth in “much better balance.” This indicates improving market conditions. Additionally, it strengthens press release claims of Powell lowering interest rates in later months.

If carried out, these lowered interest rates will be a rising tide that raises all companies in the market. However, certain companies will benefit more than others. Industries with interest-sensitive expenses will be ready for growth. Investors should take advantage of these high-growth stocks with a lot to gain from improving market conditions.

Vita Coco (COCO)

A line of Vita Coco (COCO) waters on a shelf.
Source: Nicole Glass Photography / Shutterstock.com

Vita Coco (NASDAQ:COCO) is a leading beverage company known for their coconut water and oil products. Despite the recent dip in stock price following analysts’ concerns on lower profit margins, COCO remains a compelling choice for investors. EPS and revenue growth continue to follow an upward trend, indicating its long-term growth potential.

COCO’s remarkable financial performance is not only exemplified by its EPS GAAP growth of 464.29% YOY, but also its EBITDA growth of 186.09%, 2,483.85% higher than the sector median. Similar growth patterns were also seen in past years, strengthening COCO’s credibility as one of the fastest-growing beverage companies in the US. Although there are concerns about COCO stock’s bearish pattern following Q1 reports, the company is expecting higher ocean freight for the remaining year allowing revenue to grow through high-volume sales of its products. 

COCO remains a flagship company in the functional beverages industry, expected to grow at 7.47% CAGR. It continues to solidify its market position through expanding sales operations and creative campaigns. With solid financials, COCO stock persists as one of the attractive high-growth stocks to investors.

NVIDIA (NVDA)

Nvidia (NVDA) technology company. Nvidia stock
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NVIDIA (NASDAQ:NVDA) is a company that has become synonymous with the semiconductor industry and AI as of late. After dropping sharply in the last few weeks, NVDA stock shot up nearly 5% on 7/22. This is partially due to positive news regarding the company– and is likely to raise guidance in the future, leading to higher revenue and NVDA being one of the high-growth stocks.

The fundamentals of this company are as good as they come. Revenue and earnings are at all-time highs, up over 250% and 620% respectively over the last year. A profit margin of 53.40% is also well above the sector average of 42.5%. Additionally, analysts are saying that NVDA will beat earnings estimates by as much as $2 billion, an extremely bullish claim.

As AI infrastructure investment grows, NVDA will grow along with it. Earlier today, on X (formerly Twitter), Elon Musk wrote about how 100,000 NVDA GPUs were used in a “Supercluster training” plant outside of Memphis. This once again shows the demand for NVDA chips. News about how quantum computing is advancing through NVDA GPUs also creates a bullish mood. Overall, NVDA remains a buy.

Marvell Technology (MRVL)

image of the marvell (MRVL) technologies office campus
Source: Michael Vi / Shutterstock.com

Marvell Technology (NASDAQ:MRVL) is yet another semiconductor-focused company with a focus on, among other aspects, the data-centric applications of semiconductors. Although revenue and earnings have fallen in reference to the fiscal year 2023, MRVL still has a growth potential of over 29% as per multiple Yahoo Finance! analysts.

The company is yet to make a profit, with a profit margin of -18.33%, with an operating margin of -12.77%. However, cash flow appears to be positive, sitting at $1.49 billion. However, growth is still occurring for MRVL; in Q1 2025, the company grew its data center-based revenue by 87%. MRVL also raised guidance in its report.

The data center market is growing at a CAGR of 10.1%, and is projected to reach a valuation of $622.4 billion by 2030. A high magnitude of sector growth, combined with a company that is expanding rapidly in said sector leads to a bullish outlook on future performance for MRVL stock. Thus, it is one of the high-growth stocks you should consider investing in.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

On the date of publication, Matthew Rodrigues held long positions in NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Matthew Rodrigues is a college student studying Business at UC Berkeley Haas. He believes detailed research and correct interpretation of current events is what leads to investment success.


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