3 Growth Stocks to Hold for the Next 20 Years

While the market has recently cooled on growth stocks, there are still some great stocks to scoop up that could be long-term buys.

Growth stocks have helped lead the market higher for much of the past two decades, and there is no reason to think that this trend can't continue over the next 20 years. After all, it is revenue and earnings growth that eventually help companies grow to become bigger.

Let's look at three stocks to buy for the long haul right now.

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1. Apple

Apple (NASDAQ: AAPL) has one of the best business models on the planet, and it is just a compounding machine. The company has established itself as a luxury brand and, as such, owns the high end of the smartphone and computer markets. Meanwhile, electronics have a natural replacement cycle.

The key to Apple's business, though, is that once you start buying its products, you get locked into its ecosystem, and it's difficult to switch. With every photo stored, subscription bought, and app downloaded, its ecosystem traps users like a Venus flytrap. Meanwhile, its services and payments businesses provide a high-margin recurring revenue stream. This all sets the company up to see strong profitability growth over the long term.

2. Amazon

Amazon (NASDAQ: AMZN) has grown to become one of the world's largest companies over the past two decades through its willingness to invest and innovate. It became the dominant player in e-commerce by investing heavily in fulfillment centers and logistics, while it spawned the cloud computing industry that today is one of the fastest-growing segments in the market.

That willingness to invest and evolve is why Amazon is a top stock to own for the next 20 years. The company is far from done with innovation. It is the largest manufacturer and operator of robots in the world, and together with the use of AI and automation, is streamlining its e-commerce business and making it more efficient. Look for the company to continue pushing the envelope in this area to extend its moat in the years to come.

Meanwhile, Amazon is investing heavily in cloud computing, looking to drive growth. It's formed partnerships with both Anthropic and OpenAI, and at the end of last year, it opened a huge data center dedicated to Anthropic, powered by its custom AI chips. While it's lagged behind rival Alphabet in the custom AI chip space, expect Amazon to continue to get better in this area and really make a concerted effort with AI models and agentic AI in the coming years. This should set it up to continue to be a market leader in the years ahead.

3. Dutch Bros

For investors looking for a smaller company that could grow into a very big one over the next two decades, Dutch Bros (NYSE: BROS) is a top option. The coffee shop operator is a classic regional-to-national expansion story, as it gradually moves eastward.

The company's coffee and energy drinks have been hits with consumers, and it has seen strong same-store sales growth driven by increased brand recognition, mobile order-ahead, and its loyalty program. Meanwhile, the company is just starting to roll out hot food items to the approximately three-quarters of locations that can support them, opening up another revenue growth driver.

What could turn Dutch Bros into a top-tier restaurant stock in the coming years, though, is expansion. The company had fewer than 1,150 shops at the end of last year, with plans to eventually grow to 7,000 in the U.S. Its shops are small, and most are largely supported by drive-thrus. The cost to build them is relatively cheap and can be fully funded with its cash flow, and with an impressive $2.1 million in average unit volume (AUV), they have quick payback periods. This makes Dutch Bros a stock to own for the long haul.

Geoffrey Seiler has positions in Alphabet, Amazon, and Dutch Bros. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, and Dutch Bros and is short shares of Apple. The Motley Fool has a disclosure policy.