It’s not often that a single stock can bring you life-changing wealth, but Bespoke Investment Group has identified a few that will make you want to travel back in time.
In a note on Tuesday, Bespoke calculated that a $1,000 investment in the Nvidia shares 20 years ago would be worth about $944,000 now, meaning you’d be one step away from becoming a millionaire.
It might not be quite enough to quit your job and retire right away, but more money at the start would certainly get you there. Nvidia’s $10,000 investment would be worth $9.44 million today, and $100,000 would be worth $94.4 million, according to Bespoke.
Of course, that would require a significant level of faith to keep Nvidia going during some incredible market downturns like the Great Financial Crisis, the COVID-19 pandemic, and the Federal Reserve’s most aggressive rate hike campaign in more than 40 years.
Bespoke also pointed out that Nvidia has the best performance on a total return basis over the past two decades among all stocks on the S&P 1500which includes the S&P 500 Large Cap, the S&P MidCap 400 and the S&P SmallCap 600.
You can thank the boom in artificial intelligence, which has propelled Nvidia from a chip company best known for graphics processors used in video games to an indispensable supplier of the technology that powers generative AI. In a sign of the times, stocks replaced Intel on the Dow Jones Industrial Average last month.
Meanwhile, Nvidia co-founder and CEO Jensen Huang also fared well. He is number 11 on the Bloomberg Billionaire Index with a net worth of $118 billion.
Another company that has also seen a transformation and made huge gains is Netflixwhich went from renting DVDs by mail to a streaming and original content powerhouse that turned Hollywood around.
Bespoke calculated that a $1,000 investment in Netflix stock 20 years ago would be worth more than $550,000 today.
Nvidia and Netflix are among the eight stocks that have turned $1,000 into more than $100,000 over the past 20 years. Others include Texas Pacific Land, Apple, Reservations Holdings, A monster potion, Intuitive surgeryand AmazonBespoke said.
NFL legend Rob Gronkowski also showed us the power of picking the right stock at the right time. He said Wealth that he bought $69,000 worth of Apple stock on the advice of his contractor 10 years ago, and that investment is now worth $600,000.
“Let me tell you, he built me ​​a house and he gave me all my money back telling me to invest in Apple,” he said.
