In this article, we will take a look at the 9 stocks that could 10X over the next 2 years.
US Tariffs and the Stock Market Turmoil
While tariffs from the US government disrupted international trade, they also led to uncertainty and turbulence in financial markets, with the S&P 500 closing below 5,000 points for the first time in nearly a year. An analysis from the World Economic Forum regarding how tariffs cause volatility in financial markets was stated in the words of Santiago Fernández de Lis, Head of Regulation, BBVA, as follows:
“The main impact of trade tensions on global markets is through uncertainty. When major economies—like the US and China—engage in a tariff war, investors fear slower global trade, disrupted supply chains and weakened corporate profits. This anxiety translates into market volatility. Companies delay investment decisions, consumers lose confidence, and currencies fluctuate wildly.”
However, global markets rebounded later as the US president made an announcement of a 90-day pause on additional higher tariffs that had to impact almost 80 countries, with the exception of China. In the case of China, the new president is convinced to keep high tariffs as he stated that these tariffs would be increased to 125% from 104% following China’s announcement of additional retaliatory tariffs against the US.
Following this pause in tariffs, Wall Street witnessed a sigh of relief. The S&P 500 rose 9.52%, thereby marking its biggest one-day gain since 2008. The Dow Jones Industrial Average climbed almost 7.87% to close at 40,608.45. Simultaneously, the tech-heavy Nasdaq soared 12.2% and had its best day since January 2001.
With that being said, let’s move to the 9 stocks that could 10X over the next 2 years.
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Our Methodology
To compile our list of the 9 stocks that could 10X over the next 2 years, we first carried out a consensus by sifting through multiple similar articles online. Once we had an extended list of the stocks that could 10X over the next 2 years, we shortlisted the top 9 stocks based on the number of hedge funds that have stakes in them, as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
9 Stocks That Could 10X Over the Next 2 Years
9. Robinhood Markets, Inc. (NASDAQ:HOOD)
Number of Hedge Fund Holders: 79
Robinhood Markets, Inc. (NASDAQ:HOOD) is an American financial services company that allows trading stocks, options, crypto, and futures, including options on futures, swaps, and even contracts. It was the first US retail broker to offer commission-free stock trading with no account minimums.
Deutsche Bank analyst Brian Bedell has reiterated a Buy rating on the stock, noting the firm’s plans for offers to attract active traders better. The analyst slightly increased the price target by $1 to $62, although he had previously lowered the price target to $61 from $75. He saw continued strong momentum in trading volumes across equities and options based on the firm’s promising performance in February. February operating data from the firm revealed that its Assets Under Custody (AUC) at the end of the month were $187 billion, up 58% year-over-year. Simultaneously, Net Deposits were $4.8 billion in February, recording a 28% annualized growth rate relative to January 2025 AUC. On the contrary, the price targets for the stock were lowered to $70 from $75 at Piper Sandler and to $45 from $76 at Barclays. Concerns mentioned by analysts at these firms included brokers currently subject to ‘a more intense headwind from a lower in-period Fed funds and futures curve’.
8. Spotify Technology S.A. (NYSE:SPOT)
Number of Hedge Fund Holders: 101
Spotify Technology S.A. (NYSE:SPOT) is a dominant player in audio streaming, having over 675 million users which includes 263 million subscribers in more than 180 markets. Spotify offers access to more than 100 million tracks, 6.5 million podcast titles, and 350,000 audiobooks.
As the most popular audio streaming subscription service globally, Spotify Technology S.A. (NYSE:SPOT) continues to accelerate the growth of the audiobook business. While the firm witnessed early adoption of podcasts and audiobooks in Germany, the current demand for audiobooks across German-speaking markets remains strong. On April 15, the company announced the launch of an enhanced audiobooks offering in Germany, Austria, Switzerland, and Liechtenstein under which eligible Premium listeners would be able to access 350,000 audiobooks, including titles in French, German, and Italian. The firm is also enhancing the listening experience through an expanded catalog with Audiobooks in Premium, allowing listeners a range of benefits, including pre-saving upcoming releases, saving their progress in an audiobook, and exploring recommendations from the Home feed. To support audiobook production in countries where the audiobook market is still growing, Spotify Technology S.A. (NYSE:SPOT) has declared that it will invest €1 million to accelerate the production of audiobooks in non-English languages, beginning with French and Dutch.
7. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 107
Alibaba Group Holding Limited (NYSE:BABA) serves as the parent company of the global wholesale marketplace, Alibaba.com. It operates seven segments, including China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media & Entertainment, and Innovation Initiatives & Others.
The firm’s combination of retail, advertising, and cloud businesses offers a balanced portfolio of high-growth opportunities, while its ability to leverage AI across these areas is enabling a powerful growth trajectory. The digital technology and intelligence backbone of Alibaba Group, Alibaba Cloud, recently unveiled a set of new AI models, tools, and infrastructure upgrades for its global users. Alibaba Cloud also introduced a new suite of Software-as-a-Service AI products to accelerate digital transformation across industries. Alibaba Group Holding Limited (NYSE:BABA) has planned to invest at least $53 billion over the next three years to advance its cloud computing and AI infrastructure, as announced in February 2025. Alibaba Group Chairman Joe Tsai has also highlighted the opportunities unleashed by AI for the company as he stated ‘we just see so much upside to AI… and that’s why we’re all in.’ as he emphasized Alibaba being the only company in China running both a leading cloud business while being competitive in AI. Nightview Capital stated the following regarding the company in its Q4 2024 investor letter:
“Alibaba’s focus on stabilizing its core businesses, coupled with growth of its cloud and AI divisions, positions the company for a breakout. With 25% of its market cap in cash, We believe Alibaba offers a highly compelling risk / reward opportunity from a valuation perspective.”
6. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 116
Walmart Inc. (NYSE:WMT) is an American omnichannel retailer allowing shopping in both retail stores and through e-commerce. The company serves approximately 255 million customers visiting over 10,500 stores and numerous e-commerce websites in 19 countries. Walmart is known for offering a broad assortment of quality merchandise and services at everyday low prices.
Currently, the retail giant’s lower prices and growing e-commerce assortment with the convenience of curbside pickup, quick delivery, and in-store shopping are enabling growth. Amid the recent turmoil from Trump tariffs and concerns about rising prices, Walmart Inc. (NYSE:WMT) demonstrated confidence in its everyday low-price business strategy and reaffirmed its Q1 sales growth forecast and full-year outlook for both sales and profits. The company expects its Q1 sales growth to be in line with its 3-4% outlook. Walmart Inc. (NYSE:WMT) also widened its Q1 operating income growth forecast based on several factors that include the need to lower prices to offset the effect of tariffs on incoming goods, Analyst Michael Baker thinks the company’s strategy to cut prices could enable it to have more market share. Although Walmart Inc. (NYSE:WMT) is one of the largest US importers of containerized goods, the retailer has not yet canceled any orders from abroad or reduced orders in specific categories. John David Rainey, executive vice president and chief financial officer of the company, reiterated the resilience of the company against such economic uncertainty, as he stated:
“History tells us that when we lean into these periods of uncertainty, Walmart emerges on the other side with greater share and a stronger business”
5. Netflix, Inc. (NASDAQ:NFLX)
Number of Hedge Fund Holders: 144
Netflix, Inc. (NASDAQ:NFLX) is a global streaming entertainment service with more than 300 million paid memberships in over 190 countries enjoying TV series, films, and games across various genres and languages. The firm’s revenues are primarily driven by monthly membership fees for services related to streaming content to its members. Netflix has also been making revenues from advertising.
According to the Wall Street Journal, Netflix, Inc. (NASDAQ:NFLX) is aiming to double revenue by 2030 and hit a $1 trillion valuation. BofA Securities analyst Jessica Reif Ehrlich is also bullish on the stock and has maintained a Buy rating alongside a price target of $1,175. Ehrlich noted that the company is poised for growth based on its continued positive earnings and subscriber momentum, position as an innovator, its brand, as well as other drivers such as advertising and live opportunities. Netflix, Inc. (NASDAQ:NFLX) closed 2024 with 302 million memberships and 19 million paid net additions in the fourth quarter, marking the biggest quarter of net adds in the company’s history. The firm has a long runway for growth, considering it currently accounts for less than 10% of TV viewing in every country where it operates and an expanding streaming space globally. Simultaneously, although the firm’s ad business is nascent, it is aiming for $9 billion in total ad revenue by 2030.
4. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 166
The tech giant Apple Inc. (NASDAQ:AAPL) leads the world in innovation with its iPhone, iPad, Mac, and wearables, including smartwatches, wireless headphones, and spatial computers. Recently, the company lost its position as the world’s most valuable public company amid U.S.-China trade tensions.
While the aforementioned tensions are ongoing, Evercore believes in the company’s resilience against targeted tariffs. Evercore has kept its Outperform rating on the stock with a price target of $250. The diversified production footprint of Apple Inc. (NASDAQ:AAPL) was seen as a buffer against targeted tariffs, according to the analysts led by Amit Daryanani, with the tech giant steadily expanding production into Vietnam and India. Although the firm largely depends on China for manufacturing, Evercore estimates that nearly 35% of US iPad and iPhone demand could now be met from India, and the remaining demand could still be supported by Chinese facilities. In the case of wearables and Macs, almost half the volume could be supported from Vietnam. Regardless of the uncertainty that currently persists, the company’s scale and flexibility were mentioned to be its long-term advantages.
3. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 166
Uber Technologies, Inc. (NYSE:UBER) is a multinational transportation company offering ride-hailing services, courier services, food delivery, and freight transport. It serves as one of the largest ridesharing companies and operates in more than 70 countries across the world.
Jefferies analyst John Colantuoni has kept a Buy rating on the stock with a price target of $90. Similarly, Needham and TD Cowen also previously gave the company Buy ratings with respective price targets of $90 and $88. Analysts believe in the competitive advantage of the company, especially its strategic position in the global mobility and delivery markets, as well as its lower wait times. The firm has strongly committed to its global leadership in autonomous vehicle innovation, a strategic move that is expected to further strengthen its market position. Recently, the firm, along with WeRide (NASDAQ:WRD), partnered with Dubai’s Road and Transport Authority to bring autonomous vehicles to Dubai. Uber Technologies, Inc. (NYSE:UBER) and Dubai’s Road and Transport Authority will be working together on pilot programs, thereby leveraging the company’s technology to match riders with autonomous vehicles. This collaboration will enable Uber to position itself in Dubai which is striving to be a global pioneer in autonomous mobility and is aiming to transform 25% of all journeys into autonomous trips across different transport modes by 2030.
2. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 223
NVIDIA Corporation (NASDAQ:NVDA) specializes in products and platforms for the gaming, professional visualization, data center, and automotive markets. The chip maker is a pioneer of GPU-accelerated computing and is well known for its GPU technology. As of 2024’s third quarter, the company had 90% of the global GPU market share.
With the US government limiting exports of the company’s H20 artificial intelligence chip to China, NVIDIA Corporation (NASDAQ:NVDA) would be taking $5.5 billion in charges in its fiscal 2026 first-quarter results. According to the company, these charges are associated with H20 products for inventory, purchase commitments, and related reserves. While the United States has had restrictions on selling chips for use in China’s supercomputers since 2022, there is a risk that H20 could be used or diverted to supercomputers in the country. The US government has informed the chip maker that it has to have an export license to sell its H20 chips to China. Regardless of the $5.5 billion reserve related to the export restrictions, UBS analyst Timothy Arcuri maintained a Buy rating alongside a price target of $185 on the stock. Although Arcuri thinks that the requirement for licensing would potentially hinder the company’s capacity to exceed financial expectations and that removing the H20 chip line from financial models could reduce earnings per share by nearly $0.20, he sees it as a positive “clearing event” for the firm considering that it has planned to invest $500 billion in AI infrastructure in the US over the next four years.
1. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 262
Meta Platforms, Inc. (NASDAQ:META) builds the future of human connection and the technology that makes it possible. The firm has two reportable segments, the ‘Family of Apps’, including Facebook, Instagram, Messenger, WhatsApp, and other services, and the ‘Reality Labs’, which includes its virtual, augmented, and mixed reality-related consumer hardware, software, and content.
Although analysts believe in the company’s long-term growth potential and AI tailwinds, several price targets for the stock have been cut down considering the current macro uncertainties. Amid concerns about the firm’s performance in the second quarter and beyond, potentially impacted by the tariffs, TD Cowen analysts reduced the price target on the stock to $725 from $785 while keeping a Buy rating. However, the analysts anticipate solid Q1 2025 results, with total revenue near the upper end of management’s guidance and advertising revenue expected to rise approximately 17% year-over-year (foreign exchange impacts excluded). Simultaneously, Morgan Stanley analyst Brian Nowak lowered the price target to $615 from $660 while maintaining an Overweight rating on the stock, taking into account macroeconomic factors as well as tariff challenges impacting e-commerce and digital advertising sectors. Morgan Stanley has reduced estimates for its North American internet stock coverage across the board.
As we acknowledge the growth potential of META, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than META but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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