In 2024, the fastest-growing stocks have been in the momentum category, led by NVIDIA (NASDAQ: NVDA). We reviewed the sales growth rates of some of the other fastest-growing companies in the market like Super Micro Computer (NASDAQ: SMCI) and Micron (Nasdaq: MU). Then we identified 5 other growth stocks that are projected to grow sales by 50% or more in 2024 and see stronger revenue growth in 2025 than NVIDIA. Let’s get started! 

5 Growth Stock Ideas for Investors

Here are some highlights from the discussion with 24/7 Wall Street Analysts Eric Bleeker and Austin Smith.

• The best-returning stocks in 2024 so far have been in the momentum category. That generally means fast revenue growth. 
• So, we wanted to look at two areas. First, what companies experience the fastest revenue growth in the first quarter of this year? Then second, we're looking at forecasts for next year's growth and which companies are projected to see sales growth next year that could even surpass NVIDIA's rate.
• Looking at the highest sales growth companies in the first quarter we have:

1. NVIDIA – 262% 
2. Super Micro Computer – 200% 
3. Pinduoduo – 119.4% 
4. Coinbase – 112% 
5. Micron – 81.5% 

If we project forward to next year, here are the sales growth rates for each of these companies. 

1. NVIDIA – 32.5% (Fiscal 2026) 
2. Super Micro Comptuer – 58% 
3. Pinduoduo – 29%
4. Coinbase – 3%
5. Micron – 51%

• Looking at the broader market we tried identifying companies with a similar profile that might not be on the radar of investors. Each of these companies are projected to see strong sales growth in 2024 and are projected to see sales growth equal to or exceeding NVIDIA's projected sales growth next year.
• Rocket Lab (Nasdaq: RKLB): 78% estimated sales growth in 2024 and 34% in 2025. Rocket Lab specializes in smaller rockets than SpaceX that can carry lighter payloads. 
• Marathon Digital (Nasdaq: MARA): 76% estimated sales growth in 2024 and 45% in 2025. A Bitcoin miner whose share price will be significantly impacted by the underlying price movements of Bitcoin itself.
• TransMedics (Nasdaq: TMDX): 66% estimated sales growth in 2024 and 32% in 2025. TransMedics specializes in organ transplant technology. 
• Credo (Nasdaq: CRDO):62% estimated sales growth in 2024 and 50% in 2025. Credo specializes in high-speed data transmission, which is a rapidly growing market thanks to the boom in artificial intelligence. 
• Symbotic (Nasdaq: SYM): 50% estimated sales growth in 2024 and 42% in 2025. Symbotic is one of the few SPACs that hit the market and has been a success story. The company specializes in warehouse automation with its robotic solutions used by companies like Target and Walmart. 

 

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