Got $1,000? 2 Top Growth Stocks to Buy That Could Double Your Money.
- - Got $1,000? 2 Top Growth Stocks to Buy That Could Double Your Money.
Harsh Chauhan, The Motley FoolJanuary 17, 2026 at 8:22 PM
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Key Points -
TSMC stock's earnings growth could be better than what the market is anticipating for the next couple of years, setting the stock up for potentially market-beating returns.
Micron Technology is significantly undervalued, considering the impressive growth it has been experiencing, suggesting that it can potentially skyrocket further.
10 stocks we like better than Micron Technology ›
One of the best ways to make money in the stock market is by buying and holding solid companies that capitalize on fast-growing trends, enabling them to deliver above-average earnings growth compared to the broader market. The ability of these growth stocks to clock faster top- and bottom-line growth compared to other companies typically leads to strong gains on the stock market.
So, if you've $1,000 in investible cash after meeting your expenses, clearing high-interest debt, and saving enough for difficult times, it may be a good idea to put that money into growth stocks capable of delivering outsized returns. Let's take a look at two worthy candidates right now.
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Micron Technology building on a cloudy evening.
Image source: Micron Technology.
Terrific semiconductor demand will be a massive tailwind for this company
The semiconductor industry has been growing at a rapid pace in recent years, primarily driven by increasing demand for chips used in various artificial intelligence (AI) applications. Bank of America estimates that the semiconductor industry's revenue could surge by 25% in 2026 to almost $1 trillion, driven by a 50% surge in the demand for AI chips.
Taiwan Semiconductor Manufacturing (NYSE: TSM) is going to be a big beneficiary of the secular growth in the semiconductor industry. After all, it is the world's largest contract manufacturer of chips, churning out processors for major names such as Apple, Nvidia, Advanced Micro Devices, Broadcom, Qualcomm, and others. As it turns out, TSMC serves more than 500 customers and manufactures close to 12,000 types of chips.
This massive customer base explains why it is the most dominant player in the global foundry market, with a share of 72% in the third quarter of 2025, up from 66% in the year-ago period, according to Counterpoint Research. This huge share is the reason why TSMC's revenue and earnings have been growing at a nice clip in recent years.
TSM EPS Diluted (TTM) Chart
TSM EPS Diluted (TTM) data by YCharts
The growth potential of the semiconductor market in 2026, as well as in the long run, suggests that TSMC can sustain its healthy growth momentum for a long time. TSMC delivered an estimated 49% jump in earnings in 2025 to $10.46 per share, outpacing the S&P 500's average earnings growth of 16%. Importantly, the company's earnings are estimated to continue growing at 20%-plus rates in 2026 and 2027.
TSM EPS Estimates for Current Fiscal Year Chart
TSM EPS Estimates for Current Fiscal Year data by YCharts
TSMC, however, can register much stronger earnings growth than what the market is anticipating. That's because the company's fabrication lines are sold out, which is why customers are willing to pay a huge premium to get their chips manufactured quickly by the company. Assuming TSMC manages to clock a faster earnings growth rate of 35% in 2026 and 2027, its bottom line could jump to $19.07 per share in a couple of years (using 2025's estimated earnings of $10.46 as the base).
The U.S. technology sector has an average earnings multiple of 44, higher than TSMC's trailing earnings of 35. However, the above-average earnings growth that TSMC can deliver could lead the market to reward it with a higher multiple. In fact, the stock could more than double if it maintains its current earnings multiple after two years (assuming it can achieve $19.07 per share in earnings), which is why it seems worth buying for anyone looking to add a growth stock to their portfolio.
This stock has more than tripled in the past year, and it can still fly higher
Micron Technology (NASDAQ: MU) is another company that has been growing at a much faster pace than the market. The company's earnings are estimated to jump by a whopping 291% in the current fiscal year to $32.43 per share, well above the 16% average earnings growth in the S&P 500 index.
Micron's eye-popping growth is a result of the favorable memory market dynamics. Memory demand is outpacing supply by a significant margin, driven by robust demand from AI data centers. Market research firm TrendForce anticipates a jump of 50% to 55% in the average price of dynamic random access memory (DRAM) in the current quarter, as compared to the fourth quarter of 2025.
Memory chips are reportedly sold out for 2026, suggesting that prices will continue rising. What's more, the shortage of memory chips is likely to continue through 2028, as bringing new capacity online takes time.
All this explains why Micron's earnings are expected to rise in the next fiscal year as well, though don't be surprised to see the company maintaining a healthy bottom-line growth rate beyond that as well, considering the ongoing shortage.
MU EPS Estimates for Current Fiscal Year Chart
MU EPS Estimates for Current Fiscal Year data by YCharts
Micron has a forward earnings multiple of just 11, well below the tech-laden Nasdaq-100 index's forward earnings multiple of 26. Even if it trades at 20 times forward earnings in the future and hits the $40.23 earnings estimate, its share price could soar to more than $800. That's more than double Micron's current stock price.
So, if you've $1,000 in investible cash, Micron looks like an ideal tech stock to buy right now if you're on the lookout for market-beating returns.
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Bank of America is an advertising partner of Motley Fool Money. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and Micron Technology. The Motley Fool has a disclosure policy.
Source: “AOL Money”
