2 Magnificent Stocks That Have Created Many Millionaires, and Will Continue to Make More

The Nasdaq Composite index has climbed about 118% over the last five years despite the COVID-19 pandemic and an economic downturn in 2022. The figure illustrates how lucrative investing in certain companies and holding even amid poor market conditions can be.

Consequently, it’s not a bad idea to invest in some of the Nasdaq Composite’s most prominent players with plans to hold over many years. As the world’s second and sixth most valuable companies, Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) are two attractive options.

These companies dominate their respective industries and have created many millionaires over the years, with Apple’s stock up 319% since 2019 and Amazon’s up 96%. Meanwhile, Apple and Amazon have some exciting developments in the pipeline that could deliver major gains in the coming years.

So, here are two magnificent stocks that have created millionaires and will continue to make more.

1. Amazon

One of the most attractive aspects of Amazon is its thoroughly diverse business model. The company is best known as a king of e-commerce, with its leading 38% market share in the industry. Amazon’s dominance in online retail is demonstrated by Walmart‘s second-largest market share in e-commerce, responsible for just 6% of the sector.

Amazon’s retail business remains a lucrative venture, with revenue in its North America and International segments rising 12% year over year and 10% in the first quarter of 2024. Meanwhile, retail operating income achieved a combined $6 billion, significantly improving on the negative $349 million it posted in the year-ago quarter.

However, Amazon is a lot more than e-commerce. The company is home to the world’s largest cloud platform, Amazon Web Services (AWS), which reported sales growth of 17% year over year in Q1 2024 (its largest rise in a year). AWS’ operating income rose 84% to more than $9 billion during the quarter, with the cloud service responsible for 62% of Amazon’s total operating income despite earning the lowest portion of revenue between its three main segments.

In addition to stellar retail and cloud growth,…

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