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If you invested ,000 in each of these three stocks 10 years ago, you would have made .1 million
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If you invested $10,000 in each of these three stocks 10 years ago, you would have made $1.1 million

You don't have to invest a fortune to make a million dollars in the stock market. But you should definitely take the time to research, buy and hold good growth stocks as they can play an important role in generating life-changing returns for your portfolio.

Three growth giants that have performed incredibly well over the last decade are: Advanced micro devices (NASDAQ:AMD), Eli Lilly (NYSE:LLY)And Builders First Source (NYSE:BLDR). Ten years ago, investing $10,000 in each of these stocks would have been enough to make you a millionaire today. Here's why these stocks were such good buys and why it might not be too late to invest in them.

Rapid technology growth has helped Advanced Micro Devices, also known as AMD, generate much higher financial returns and achieve a much higher valuation. The semiconductor company is often seen as the main competitor Nvidiabut with a market cap of around $270 billion, AMD is less than a tenth as big.

But it's still an excellent investment because $10,000 worth of AMD stock purchased a decade ago would be worth more than $630,000 today. The technology company has seen particularly explosive growth in recent years as enthusiasm for artificial intelligence (AI) fueled incredible demand for its chips. Last year, AMD reported revenue of $22.7 billion, more than double the $9.8 billion the company posted just a few years earlier in 2020.

AMD still has a lot of potential as it recently unveiled a new AI chip, the MI325X, which could potentially compete with Nvidia's new Blackwell chips. But even if AMD lags behind its much larger competitor, the huge growth opportunities in AI leave plenty of room for both companies to perform well in the coming years. And since AMD is a more modestly valued company, the stock could have more upside potential than Nvidia's from here on out.

Healthcare giant Eli Lilly has invested more than ten thousand dollars in the last decade, as a $10,000 investment would have turned into about $150,000 today. The big catalyst for its performance is the excitement surrounding GLP-1 weight loss drugs. The company has what appears to be the best drug on the market: tirzepatide, which is approved for diabetes (Mounjaro) and weight loss (Zepbound).

Analysts expect tirzepatide to potentially become the best-selling drug of all time, with peak sales estimated to exceed $50 billion; Eli Lilly's entire business generated $34 billion last year. And sales of tirzepatide could be even higher as studies uncover other benefits of the drug, including reducing the risk of heart failure, helping people with sleep apnea and potentially effectively treating fatty liver disease.

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