2 Millionaire-Maker Technology Stocks Worth Considering

A million dollars.

Seven figures.

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It is a numerical goal that many investors have for their retirement accounts. While it may seem unreachable if you are beginning with small amounts of money, the power of compound interest can turn any portfolio into a million dollars for those who have enough patience and are focused on the long haul. An initial deposit of just $25,000 compounded at a 10% annual rate will turn into a million dollars in 40 years, and this is without regular additions to the portfolio.

Now we know what's possible. But the dilemma remains: What stocks should you buy for your portfolio to hold for the long term? I have two promising technology stocks that can help turn your portfolio into a million dollars over the long term.

Image source: Getty Images.

1. Airbnb: Long-term disruption in travel

Airbnb (NASDAQ: ABNB) has been a disruptive force in the travel market ever since its inception. With its revolutionary home-sharing model, the company has grown to $81.8 billion in gross spending on its platform in 2024, which equates to $11.1 billion in total revenue.

The platform is available in many countries around the globe. However, did you know that 70% of Airbnb's spending comes from only a few Western markets like the United States, United Kingdom, Australia, and France? Over the next five years, management believes it will have the opportunity to tailor the Airbnb home-sharing marketplace to other travel-heavy regions around the globe, such as Japan, Brazil, and the Mediterranean. This should give the company a large runway to further expand and grow spending on its platform, which will lead to revenue and earnings growth.

Taking a longer view, Airbnb is setting up its platform to do more than just lodging for travelers. It has just launched two new product categories called Experiences and Services. Experiences are activities you can do on vacations, such as city tours. Services are things like food catering and spa treatments to try and replicate the high-end services you can get at hotels. In the long run, Airbnb hopes to switch more and more customers from hotels to its distributed lodging model, and these should help increase the value of using its platform for travel.

Today, Airbnb trades at a price-to-earnings ratio (P/E) of 32, which might seem slightly expensive for value-focused investors. This is the price you pay for a high-quality business with a long runway to grow. Even so, Airbnb's profit margins are much lower than they could be once the platform matures. It has an operating margin of 22%, while a competing platform like Booking Holdings has a 32.5% operating margin, even while spending much more on performance marketing. I believe that Airbnb's operating margin can be much higher than Booking's over the long term, and this is a key reason why the stock is a buy today.

Digitizing international money transfers

Next up is another technology disrupter: Remitly Global (NASDAQ: RELY). The platform is disrupting traditional international money transfers -- known as remittances -- with its easy-to-use mobile application that has lower fees than traditional players. Last quarter, Remitly's total send volume grew 41% year over year, and revenue grew 34% as it continued to take market share. Even though it is growing quickly, the platform is now profitable, posting $11.4 million in net income last quarter.

Despite now processing over $15 billion in quarterly volume for 8 million customers, Remitly still only has an estimated 3% market share in remittances. As a leading disruptor in this sector, I think there is room for the company to grow its market share to 5%, 10%, and eventually 20% over the long term. This will help revenue compound higher and higher in the years to come.

Remitly does not have a P/E ratio right now because it is close to break-even profitability over the last 12 months. This does not mean the stock is one to avoid. With a market cap of just $4.6 billion and $1.4 billion in trailing revenue, Remitly has a chance to be a much larger business one day if it can keep taking a share of the remittance market. Stay patient and buy this stock with a time horizon of 10 years or longer, and watch the wealth pile up in your portfolio.

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Brett Schafer has positions in Remitly Global. The Motley Fool has positions in and recommends Airbnb and Booking Holdings. The Motley Fool has a disclosure policy.