3 Stocks That Turned a $15,000 Investment Into Over $1 Million in 15 Years

If you're investing in the stock market and have more than 10 years before retirement, then it's hard to go wrong with growth stocks. Growth stocks can achieve considerable returns over the long haul -- much more than you might get with safer options like dividend stocks.

Not every growth stock will be a surefire winner. But three that have been particularly fantastic buys over the past 15 years are Netflix (NASDAQ: NFLX), Axon Enterprise (NASDAQ: AXON), and Broadcom (NASDAQ: AVGO). Investing $15,000 into any one of these stocks would have made you more than $1 million in just 15 years.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

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Netflix

Streaming giant Netflix would have turned a $15,000 investment in 15 years into $1.2 million today. The company has constantly been working on new ways to grow its business. It went from DVDs to streaming, and it even pivoted to making its own movies in an effort to be less dependent on licensing deals. It also got into live sports and video games.

Netflix is what you would expect a top growth stock to look like, with a constant focus on improving its business and adding value for consumers. That's why it's little surprise the stock has been a top performer for over a decade.

Last year, its revenue topped $39 billion, marking a near-$10 billion increase in its top line in a span of just three years. Netflix isn't a cheap stock as it trades at more than 50 times its trailing earnings, but for a growth machine, the premium may be justifiable.

Axon Enterprise

The stock that generated the most impressive gains on this list over the past 15 years is Axon Enterprise. A $15,000 investment in the company in 2010 would now be worth just under $2 million. The company, which was previously known as Taser International, grew its business significantly and now includes software and body cameras in addition to its electroshock weapons.

The company can benefit from any sizable investment in policing or government defense spending. Unsurprisingly, amid President Donald Trump's tough approach on crime and enforcement, shares of Axon climbed more than 45% in the last six months.

Last year, Axon generated $2.1 billion in revenue, which is more than double the $860 million it reported in 2021. During that time, it has also improved its bottom line, no longer incurring losses. As it scales its operations, its earnings should continue to get stronger, which is why investors shouldn't be too concerned about its high price-to-earnings multiple of 131 -- it will likely come down in the future.

Broadcom

Another top-performing stock over the past 15 years is chipmaker Broadcom. If you invested $15,000 into the stock back then, your investment would now be worth around $1.5 million. The company benefited from a surge in spending related to artificial intelligence (AI) in recent years. Its chips and infrastructure software solutions put it in prime position to meet the needs of hyperscalers (i.e., big tech companies) focusing on AI-related growth.

In the company's most recent fiscal year (ended in early November), Broadcom's sales totaled nearly $52 billion -- representing massive 88% growth compared to the $27.5 billion it brought in three years earlier.

Although it has fallen in value since topping a $1 trillion valuation earlier this year, it's still trading at a hefty premium of more than 90 times its trailing earnings. But if you want exposure to a top AI stock, it may not be too late to invest in Broadcom. Based on its price-to-earnings-growth multiple of just 0.54, it can be a decently priced stock given the growth potential analysts see ahead for the business.

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David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Axon Enterprise and Netflix. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.