In this article, we will take a look at the 10 Cheap Stocks That Could Deliver 100%+ Gains Over the Next 10 Years.

Cheap stocks always attract attention, but in a market increasingly ruled by artificial intelligence, earnings resilience, geopolitical headlines, and investor positioning, the word “cheap” needs to be handled carefully. A low share price alone does not automatically make a stock a bargain. Sometimes, a stock is cheap because Wall Street has temporarily ignored it. Other times, it is cheap because the business is weak, the balance sheet is stretched, or the growth story has already faded. That is why this list of 10 cheap stocks to buy for the next 10 years focuses not just on valuation, but also on forward earnings potential, investor sentiment, market positioning, and recent company developments that could change how the market views each stock.

The timing is especially interesting because the broader stock market is once again proving how strange, emotional, and forward-looking Wall Street can be. While headlines are still dominated by geopolitical instability, inflation concerns, energy prices, interest rates, and recession fears, the market has already started looking beyond some of those risks. That may sound confusing to casual investors, but it is actually one of the oldest habits of the stock market. Stocks often bottom before bad news officially ends. The market does not wait for perfect clarity. It usually moves when investors begin to believe the worst-case scenario is becoming less likely.

That point was recently highlighted by Tom Lee, Fundstrat’s Chief Investment Officer and Head of Research, during his appearance on CNBC’s Squawk Box on May 4. Lee discussed the resilience of the U.S. stock market despite ongoing geopolitical conflict and explained why the risk-reward setup for equities still looks favorable. His argument was not based on blind optimism. Instead, it centered on a familiar but powerful market idea: earnings, liquidity, and productivity matter more over time than fear-driven headlines.

Why the Stock Market Keeps Defying Bad News

One of the biggest pieces of market trivia that long-term investors should remember is this: the stock market is not the economy, and it is definitely not the evening news. The market is a discounting machine. It tries to price what may happen six, 12, or even 18 months ahead. That is why stocks can rally while the headlines still look ugly. It is also why some of the best long-term stock opportunities appear when investor sentiment is still weak.

Tom Lee’s view fits that historical pattern. He noted that the market has largely followed the old script of bottoming before geopolitical conflicts are fully resolved. In plain language, investors may still be nervous, but the market has already begun to move past the fear. That does not mean risks have disappeared. It only means that the market is starting to focus on what comes next.

This matters for investors searching for cheap stocks to buy now, undervalued stocks, long-term stocks, and best stocks to buy and hold because market recoveries often do not lift every stock at the same time. The first wave usually benefits the strongest and most obvious winners. In today’s market, that has meant the Magnificent Seven, semiconductor stocks, and companies tied directly to artificial intelligence. The second wave can be more selective, and that is where bargain hunters may find opportunities in cheaper stocks with improving fundamentals.

AI Is Still the Market’s Biggest Growth Engine

The artificial intelligence boom has become one of the most important investment themes of this decade. What started as excitement around chips, cloud infrastructure, and large language models has evolved into a broader productivity story. AI is no longer just about technology companies showing off futuristic tools. It is now about lowering costs, improving margins, speeding up workflows, and helping corporations do more with fewer resources.

That is why Lee emphasized AI-driven productivity as a major force behind U.S. GDP growth and corporate resilience. The trivia here is important: many of the biggest stock market winners in history were not just companies that sold exciting products. They were companies that improved productivity at scale. Railroads changed transportation. Electricity changed manufacturing. The internet changed communication and commerce. Smartphones changed consumer behavior. Now, AI is being treated by many investors as the next productivity platform.

For long-term investors, that backdrop is important when looking at cheap stocks with growth potential. A company does not need to be a pure AI stock to benefit from artificial intelligence. Some software companies may use AI to protect margins. Some consumer companies may use AI to improve supply chains. Some financial firms may use AI to reduce operating costs. Some industrial companies may use automation to improve productivity. The real question is not simply, “Is this an AI stock?” The better question is, “Can this company use AI to become more efficient, more profitable, or more competitive over the next 10 years?”

That is where some cheap stocks become more interesting. The market often overpays for the obvious AI winners, but it can underprice second-layer beneficiaries. Those are companies that may not dominate headlines today but could quietly benefit from AI adoption, cost discipline, improved earnings, and stronger long-term free cash flow.

The Magnificent Seven Are Winning, But the Rest of the Market Still Matters

One of the more unusual features of the current stock market is the high concentration of gains. The Magnificent Seven and semiconductor companies have carried a large portion of the rally, while other sectors have lagged. This is not random. It reflects where investors believe the strongest earnings visibility and productivity gains are happening.

Lee explained that the concentration makes sense because the global AI productivity story is largely centered in the United States and China. Europe, in his view, has not been as central to the AI growth narrative. That is an important observation because stock market leadership often follows innovation leadership. When capital believes a country or sector owns the next major productivity cycle, money tends to crowd into that area.

Still, concentration creates a different kind of opportunity. When too much attention goes to the same group of mega-cap stocks, other areas of the market may be neglected. The equal-weighted consumer discretionary sector, for example, has struggled and remains below its highs because of economic frictions. Higher borrowing costs, cautious consumers, inflation pressure, and uneven demand can weigh on these businesses. But over a 10-year horizon, some of today’s ignored companies could recover if earnings stabilize and sentiment improves.

This is why the search for cheap stocks for the next decade should not be limited to the hottest names. A disciplined investor looks for valuation, earnings power, balance sheet strength, industry position, and catalysts. The best cheap stocks are not always the most exciting ones today. Sometimes, they are the companies quietly building operating leverage while the market is distracted.

Why Investor Sentiment Could Still Support Stocks

Another important piece of market trivia is that rallies often climb what Wall Street calls a “wall of worry.” That phrase simply means stocks can keep rising even when many investors remain skeptical. In fact, cautious sentiment can sometimes support a rally because it means there is still cash on the sidelines that can later move back into equities.

Lee pointed out that 2026 has been unusual because retail investors behaved differently from past corrections. In previous market pullbacks, retail investors often bought dips aggressively. This time, many sold near the lows and were left wrong-footed when stocks returned to record levels. That matters because muted sentiment and cautious positioning may create potential buying power. If investors are still holding large cash reserves, the market may have more liquidity available if confidence improves.

For readers looking at cheap stocks to buy and hold, this is a useful backdrop. Stocks do not need universal optimism to move higher. In many cases, they move higher because expectations are low, positioning is defensive, and earnings are better than feared. When a cheap stock has improving fundamentals and investors are underpositioned, the upside can be meaningful.

This is also why headline-driven dips can become opportunities for patient investors. Lee suggested that investors may buy dips tied to geopolitical concerns because the structural story remains strong. In other words, the market may treat fear as temporary if earnings, AI demand, and corporate productivity remain intact.

Higher Oil Prices Could Make AI Even More Important

Geopolitical conflict often brings another market concern: rising oil prices. Higher energy prices can hurt consumers, pressure corporate margins, and complicate inflation trends. Normally, that would be a clear negative for stocks. Lee acknowledged this risk, but he also made an interesting point: if energy prices rise and companies feel margin pressure, demand for AI-driven efficiency may increase.

That is a smart angle because companies usually become more serious about productivity tools when costs rise. When labor, energy, financing, and logistics become more expensive, management teams look for ways to protect margins. AI software, automation, analytics, and digital infrastructure can become more attractive in that environment. This does not remove the risk of higher oil prices, but it helps explain why investors continue to focus on productivity as a long-term theme.

For cheap stock investors, this means the strongest opportunities may come from companies that can survive short-term pressure while adapting to long-term efficiency trends. A stock trading below a forward P/E of 15 may look cheap, but the real upside depends on whether earnings can hold up, expand, or recover. Over 10 years, valuation matters, but business quality matters more.

Why Software Stocks Are Back in the Conversation

Lee also highlighted U.S. software as one of his favored areas. That is notable because software stocks have had a complicated few years. Investors once treated many software companies as unstoppable growth machines, then became more skeptical as interest rates rose, revenue growth slowed, and AI created questions about the durability of traditional software business models.

But the software story is not dead. It is changing. Well-managed software companies that can integrate AI, defend customer relationships, and improve productivity may still offer strong long-term returns. Some may even become more valuable if AI makes their platforms more useful. Others may struggle if AI disrupts their pricing power or makes their products easier to replace.

That distinction is critical for investors searching for undervalued software stocks, cheap tech stocks, and best long-term growth stocks. The market may be too harsh on certain software companies that still have strong recurring revenue, high gross margins, sticky customers, and clear AI adaptation strategies. At the same time, not every beaten-down software name deserves a comeback story. Selectivity matters.

Cheap Does Not Mean Safe, But It Can Mean Opportunity

A common mistake among new investors is assuming that a cheap stock is automatically safer than an expensive stock. That is not always true. A $5 stock can still fall to $2. A stock trading at 10 times forward earnings can still be a poor investment if earnings collapse. A company can look statistically cheap and still destroy shareholder value if debt, competition, or weak management becomes a bigger problem.

But cheap stocks can be powerful when the market is underestimating their future. A company trading below a forward P/E of 15 may offer attractive upside if earnings estimates rise, margins improve, management executes, or investor sentiment turns. Over a 10-year period, even modest annual growth can compound into meaningful returns. That is the real appeal of long-term bargain investing.

This article looks at 10 cheap stocks to buy for the next 10 years by focusing on companies that trade at reasonable forward earnings multiples and have recent developments that could influence investor sentiment. The goal is not to chase low-priced stocks for excitement. The goal is to identify affordable stocks with potential catalysts, analyst interest, and enough business momentum to deserve a closer look.

CHECK THIS OUT: Top 10 Cheap Stocks for 2026 With Massive Upside Potential and Top 10 Stocks to Buy Now That Could Deliver 20%+ Upside Fast.

Our Methodology

In order to come up with our list of the 10 cheap stocks that could deliver 100%+ gains over the next 10 years, we used screeners and financial media reports to identify cheap stocks trading below a forward P/E ratio of 15, limited the list to companies with recent developments that could affect investor sentiment, earnings expectations, or long-term growth potential, and ranked them in ascending order based on the number of hedge funds holding stakes in them as of Q4 2025.

10 Cheap Stocks That Could Deliver 100%+ Gains Over the Next 10 Years

10. Enterprise Products Partners (NYSE:EPD)

Enterprise Products Partners (NYSE: EPD) starts the list of cheap stocks to buy for the next 10 years because it offers something many long-term investors still value in an uncertain market: hard assets, steady cash flow, energy infrastructure exposure, and a shareholder-return program backed by real operating performance. Trading at $38.29, Enterprise Products Partners remains one of the more interesting long-term value stocks for investors looking for exposure to natural gas, natural gas liquids, crude oil, refined products, and petrochemicals without directly relying on the daily price movement of oil alone. In simple terms, EPD is not just an energy company riding commodity headlines. It is a midstream energy giant that earns money by moving, processing, storing, and exporting the products that keep the energy system running.

The company’s first-quarter 2026 performance gave investors another reason to pay attention. On April 28, Enterprise Products Partners reported net income of $1.5 billion and operating income of $1.9 billion, representing an 8% year-over-year increase. That kind of improvement matters because investors searching for cheap stocks with long-term upside are not only looking for low valuation. They are looking for companies that can still grow earnings, defend margins, and generate cash even when the macro environment is noisy. Enterprise Products also delivered Adjusted EBITDA of $2.7 billion and produced $2.1 billion in operational distributable cash flow during the quarter, giving the partnership strong flexibility to fund growth, return capital, and keep its balance sheet in shape.

What makes the story more compelling is that the quarter was not just “good” in a normal accounting sense. Enterprise Products Partners hit 12 new operational records, which is a strong signal that the company’s asset base remains highly relevant to the U.S. energy market. Natural gas processing inlet volumes reached a record 8.3 Bcf/d, while pipeline transportation volumes reached 14.2 MMBPD. Marine terminal volumes increased 15% to 2.3 MMBPD, and NGL fractionation volumes climbed to a record 1.9 MMBPD. For investors looking at the best cheap stocks to buy and hold, those numbers are important because they point to rising demand across multiple parts of the business, not just one lucky segment.

The company’s growth has also been supported by new assets, including the Mentone West 2 plant and the Bahia NGL pipeline. These projects are not small side stories. They are part of a broader infrastructure expansion strategy tied to the Permian Basin, one of the most important oil and gas production regions in North America. Enterprise Products has already announced plans for two additional natural gas processing plants expected to begin service in 2027, which gives investors another forward-looking catalyst. At the same time, the partnership currently has around $5.3 billion in major growth projects under construction, while 2026 growth capital expenditures are projected to range between $2.3 billion and $2.6 billion.

That is why EPD deserves a place among cheap stocks to buy for the next decade. It combines income potential, operational scale, energy export exposure, and a long runway for infrastructure demand. The company also used $116 million for common unit repurchases as part of its ongoing $5.0 billion buyback program, which shows that management is still willing to return capital when the numbers make sense. For long-term investors, Enterprise Products Partners may not be the flashiest stock on Wall Street, but it is the type of value stock that can quietly build returns through cash flow, distributions, buybacks, and infrastructure growth.

Click next to see the following stock...