There is just a handful of stocks that have sizeable upside expectations ahead after seeing a more than 1,000% compound return over the last decade. The past 10 years have been busy for the financial markets, with a technology boom followed by the pandemic’s shakeup. Some stocks have been able to grow exponentially through it all. “Tenbaggers” are stocks that gain 10 times the value of their initial purchase price. In this case, CNBC Pro used FactSet to look for stocks that have compounded more than 1,000% over the last decade. We then looked for stocks where there is more upside potentially ahead. These names also have average analyst price targets implying an upside of at least 20%. Here are seven stocks that made the list: Chipmaker Nvidia was at the top of list, far exceeding the threshold to be a tenbagger. The stock has seen a compounded return of nearly 14,000% over the last decade. Just this year, Nvidia’s stock has soared more than 230% as investors bought in on hopes it could benefit from growing interest around artificial intelligence. The company delivered another strong quarterly report late last month that was cheered by Wall Street. “We expect Nvidia to maintain its status as the accelerated computing industry standard for the foreseeable future given its competitive moat and the urgency with which customers are developing/deploying increasingly complex AI models,” said Goldman Sachs analyst Toshiya Hari following the report. Hari now expects Nvidia shares to trade above $600 in the next year. Wall Street peers are similarly bullish. The average analyst sees another 30.7% upside over the next 12 months. Nvidia wasn’t the only hardware stock that made the cut. Advanced Micro Devices and ON Semiconductor were also both on the list. AMD had the second-best 10-year return at more than 3,000%. The stock has gained nearly 70% so far this year, but analysts don’t see that rally losing steam anytime soon. The average upside suggests shares could gain around 34% over the next 12 months. Meanwhile, ON Semiconductor generated a compound return of around 1,235% in the past 10 years. The stock has jumped nearly 60% so far this year, and the average analyst sees approximately 22% to be gained in the next year. Outside of technology stocks, Enphase Energy also made the cut. Despite a poor performance this year with the solar stock down more than 50%, it’s still a tenbagger as the 10-year return is above 1,900%. Analysts see a reprieve from its current selloff on the horizon, with the average price target signaling an upside of more than 56%. — CNBC’s Michael Bloom and John Melloy contributed to this report.
This top-performing chipmaker is among tenbaggers with more upside