3 Top Growth Stocks to Buy in October

Key Points

• Broadcom posted roughly $16 billion in Q3 fiscal 2025 revenue, up 22% year-over-year, with AI revenue hitting $5.2 billion.

• Shopify grew revenue 31% to $2.68 billion in Q2 2025 while achieving 16% free cash flow margins.

• Tesla delivered a record 497,099 vehicles in Q3 2025, up 7% year-over-year, ahead of EV tax credit expiration.

• 10 stocks we like better than Broadcom ›

Growth stocks thrive on momentum, and October often delivers it. The start of Q3 earnings season, combined with enterprises locking in year-end budgets, sets the stage for companies with real catalysts to stand out. While volatility remains a major concern, investors looking for upside can find opportunities in businesses balancing expansion with durability.

Three growth names stand out this October, each for different reasons -- Broadcom (NASDAQ: AVGO) for infrastructure scale, Shopify (NASDAQ: SHOP) for e-commerce leverage, and Tesla (NASDAQ: TSLA) for disruptive mobility. Read on to find out more about these three incredible growth stocks.

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The infrastructure and AI backbone

Broadcom has quietly become one of the most important enablers of the artificial intelligence (AI) boom. In Q3 fiscal 2025, the company posted roughly $16 billion in revenue, up 22% year over year, with AI revenue reaching $5.2 billion, a 63% increase from the prior year. Its networking division is thriving, anchored by new switch application-specific integrated circuits (ASICs) like the Tomahawk 6, which doubles bandwidth for AI data centers.

The company's AI momentum gained further validation with reports that it will partner with OpenAI to develop a custom AI chip for a 2026 launch. This kind of customer traction signals staying power in a market, chasing every efficiency gain. With AI revenue growing 63% year-over-year and management's bullish commentary on sustained demand, Broadcom appears well-positioned for continued growth. The main risks include reliance on a handful of massive customers and expectations that may already be running too hot.

Holiday tailwinds meet operating leverage

Shopify has emerged as one of the most consistent growth platforms in e-commerce. In Q2 2025, the company grew revenue 31% year-over-year to $2.68 billion, with subscription revenue at $656 million and merchant solutions at $2.02 billion. Free cash flow margin reached 16%, the eighth straight quarter of double-digit profitability.

October is pivotal as merchants lock in campaigns and budgets ahead of the holiday season. This seasonal planning drives increased merchant activity and payment volume, which should benefit Shopify's high-margin payments and logistics services. Unlike many growth names, Shopify has proven it can expand while generating cash. Risks include soft consumer spending and pressure on take rates, but the holiday setup favors momentum.

The volatile momentum play

Tesla delivered a record 497,099 vehicles in Q3 2025, up roughly 7% year-over-year, driven in part by a rush to beat the expiration of the $7,500 EV tax credit. The company also raised lease prices in the U.S. following the end of the tax credit, but offered a $6,500 lease credit to offset the impact for some customers. Meanwhile, Tesla introduced the 2026 Model Y Performance trim in the U.S., featuring upgrades such as enhanced suspension, sport seats, and a 16-inch infotainment display.

These developments give fresh catalysts for October. Delivery momentum, pricing shifts, and new model variants can reshape expectations. Investors will also watch guidance for Q4, progress in autonomy and energy deployment efforts, and how Tesla navigates the post-tax credit environment. Risks remain significant -- margins could compress under price pressures, Chinese demand is volatile, and competition is intensifying. But for a stock known for big swings, few names move with this mix of product, policy, and sentiment shifts.

Three ways to play growth

These three stocks offer distinct angles on growth in a market hungry for momentum. Broadcom provides the infrastructure backbone powering AI expansion, with customer wins validating its technology moat. Shopify delivers proven e-commerce execution during the holiday season, providing a near-term catalyst for upside surprises. Tesla brings volatility and optionality, betting that energy and autonomy can reignite growth beyond the automotive base.

Should you invest $1,000 in Broadcom right now?

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George Budwell has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify and Tesla. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.