We recently published our article Top 5 Stocks That Could Make You a Millionaire Over the Next 3 Years. To read the full story, you can go directly to Top 10 Stocks That Could Make You a Millionaire Over the Next 3 Years. In this article, we discuss Amazon.com Inc. (NASDAQ:AMZN) as one of the stocks gaining attention, and here’s a closer look at why it stands out in today’s market.
The stock market has a funny way of testing investors’ patience. Just when Wall Street starts worrying that the artificial intelligence trade may be getting crowded, stretched, or simply too obvious, another earnings report comes out and reminds everyone why the bullish crowd has not disappeared. That was the broader message from veteran market watcher Ed Yardeni, President of Yardeni Research, when he appeared on CNBC Television on June 26 to discuss the current state of the market, corporate earnings, artificial intelligence spending, and why some of the best stocks to buy now may still have room to run over the next three years.
Yardeni has been one of the more visible bullish voices in the market, and his argument has not been built on hype alone. Instead, he has repeatedly pointed to what he calls “FEMO,” or Fabulous Earnings Momentum. It is a catchy phrase, but behind it is a serious market idea: stocks tend to perform well when earnings continue to surprise on the upside, profit margins remain durable, and corporate America keeps finding ways to grow even in a higher-rate, more selective investment environment. For investors searching for the best long-term stocks, growth stocks to buy, high-upside stocks, artificial intelligence stocks, technology stocks, and stocks that could make investors rich over the next three years, that earnings momentum matters more than short-term market noise.
The current market is not exactly quiet. Investors are still debating interest rates, inflation, valuation, recession risk, Federal Reserve policy, and whether the AI boom is becoming too expensive. But Yardeni’s point is that the market’s foundation remains stronger than many bears expected. Earnings have held up. Big technology companies continue to spend aggressively. Demand tied to artificial intelligence infrastructure remains alive. And even when parts of the market look slow, the weakness may not be a sign of collapse. It may simply be the market catching its breath after a powerful AI-driven rally.
The Market Is Tired of AI Talk, But Not AI Spending
One of the most interesting parts of Yardeni’s CNBC appearance was his discussion of what he described as AI fatigue. Investors have heard the same artificial intelligence story for months: more chips, more servers, more data centers, more cloud computing, more power demand, and more capital expenditure from hyperscalers. At some point, even a strong story can begin to feel overused. That is exactly why some traders have become more cautious toward AI stocks and mega-cap technology stocks, even though the underlying demand picture remains strong.
That is where Micron’s earnings came in as a useful reminder. Yardeni highlighted Micron’s results as evidence that AI hardware demand is still real. The point is simple: artificial intelligence is not just a software story. It is also a hardware, memory, semiconductor, cloud infrastructure, data center, electricity, cooling, and networking story. Every AI model that becomes more powerful requires more computing capacity. Every company that wants to compete in generative AI needs access to better infrastructure. Every hyperscaler that wants to stay ahead must keep building. That is why semiconductor stocks, data center stocks, cloud computing stocks, and AI infrastructure stocks continue to attract attention from long-term investors.
There is also a trivia-like angle here that many casual investors miss. The AI boom is not only about the companies with the most famous chatbots or the most popular consumer-facing applications. Some of the biggest winners in major technology cycles have often been the “picks and shovels” companies, or the firms that provide the infrastructure behind the boom. During the gold rush, not everyone found gold, but the businesses selling tools, transport, and supplies often made consistent money. In the AI era, that same logic applies to chipmakers, memory suppliers, cloud platforms, equipment companies, power infrastructure firms, and the hyperscalers building the digital factories of the future.
Why Hyperscaler Spending Has Become the Market’s Big Question
A major concern among investors is whether hyperscalers are raising and spending too much money on artificial intelligence capital expenditure. The worry is understandable. Data centers are expensive. Advanced chips are expensive. Power supply is expensive. Talent is expensive. The entire AI race requires enormous upfront investment before the full profit opportunity becomes clear. For some investors, that raises a serious question: are the biggest technology companies building the next great profit engine, or are they overspending into a bubble?
Yardeni’s answer leaned toward patience. He noted that many of these hyperscalers are not speculative start-ups with weak balance sheets. They are well-established companies with strong fundamentals, deep cash flows, experienced management teams, and proven business models. In other words, the companies spending heavily on AI are often the same companies that already dominate cloud computing, digital advertising, enterprise software, e-commerce, mobile ecosystems, and online services. That does not remove risk, but it does make the AI capital expenditure story different from a typical market mania funded only by hope.
This is important for anyone looking for stocks with strong upside potential over the next three years. If the hyperscalers are right, today’s aggressive data center spending could become tomorrow’s profit machine. If they are wrong, the market may punish companies that invested too much too quickly. The more balanced view is that investors do not need to assume every AI project will become a massive success. They only need to recognize that the companies with the strongest balance sheets, largest customer bases, and deepest infrastructure advantages may be better positioned to turn AI investment into long-term earnings growth.
Earnings Momentum Is Still the Main Character
For all the excitement around artificial intelligence, the real market driver remains earnings. That is why Yardeni’s FEMO thesis deserves attention. Stock prices can move on headlines in the short term, but over longer periods, earnings growth usually does the heavy lifting. The best stocks to buy and hold are often companies that can grow revenue, protect margins, reinvest capital wisely, and expand profits faster than the broader market expects.
That is also why investors continue to search for high-growth stocks, undervalued stocks, Wall Street analyst picks, hedge fund favorite stocks, and long-term stock market winners. A company does not need to be perfect to become a strong investment. It needs a clear growth path, durable demand, credible management, and enough earnings power to justify a higher valuation over time. In a market driven by both AI optimism and earnings discipline, the best opportunities may come from companies that sit at the intersection of innovation and financial strength.
Another interesting trivia point is that market leadership often changes quietly before most investors notice. The stocks that dominate one cycle are not always the same stocks that lead the next one. In the early days of the internet, many investors focused only on the most obvious names. Later, the winners included companies that built platforms, controlled distribution, scaled infrastructure, or monetized user behavior better than competitors. The AI cycle may follow a similar pattern. Some winners may come from familiar mega-cap technology names, while others may emerge from semiconductors, enterprise software, cybersecurity, energy infrastructure, healthcare technology, financial technology, or industrial automation.
Why the Next Three Years Could Matter for Investors
A three-year investing window is long enough for a powerful business trend to show real results, but short enough for market expectations to change quickly. That is why the idea of “10 stocks that could make investors rich over the next three years” is compelling. It speaks to a very specific kind of opportunity: companies that may not simply perform well, but could potentially outperform the broader market if their earnings, business models, and industry tailwinds continue to improve.
Of course, no serious investor should believe that any stock is guaranteed to make anyone rich. Markets do not work that way. Even the best stocks face risks, including valuation pressure, earnings misses, competition, regulatory issues, interest rate changes, and sudden shifts in investor sentiment. But history also shows that some of the biggest stock market winners are born during periods of doubt. When investors are nervous about spending, valuation, or whether a trend is overhyped, that is often when the strongest companies separate themselves from the rest.
For growth investors, the next three years may be shaped by several major themes: artificial intelligence adoption, data center expansion, semiconductor demand, cloud computing growth, digital transformation, automation, healthcare innovation, defense technology, energy transition, and the continued rise of companies with scalable business models. For value investors, the opportunity may come from high-quality companies that remain overlooked because the market is too focused on the biggest AI names. For long-term investors, the key is not simply finding popular stocks, but identifying companies with the earnings power and competitive advantages to survive market volatility and compound over time.
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Our Methodology
To come up with our ranking for the top 10 stocks that could make you a millionaire over the next 3 years, we reviewed reputable financial media lists, identified the stocks most frequently highlighted for long-term upside potential, and ranked them based on hedge fund ownership data and overall institutional interest.
Top 5 Stocks That Could Make You a Millionaire Over the Next 3 Years
1. Amazon.com Inc. (NASDAQ:AMZN)
Amazon.com, Inc. (NASDAQ: AMZN) takes the No. 1 spot among the Top 10 Stocks That Could Make You a Millionaire Over the Next 3 Years, and the reason is simple: few companies have as many ways to win as Amazon.com, Inc. (NASDAQ: AMZN). Trading at $232.69, with the stock up 2.50%, Amazon.com, Inc. (NASDAQ: AMZN) remains one of the most important e-commerce stocks, cloud computing stocks, artificial intelligence stocks, digital advertising stocks, logistics stocks, and long-term growth stocks in the world. The company is backed by 353 hedge fund holders, the highest number on this section of the list, showing that institutional investors continue to view Amazon.com, Inc. (NASDAQ: AMZN) as one of the market’s most important long-term holdings. While most consumers still know Amazon.com, Inc. (NASDAQ: AMZN) mainly for online shopping and fast delivery, Wall Street understands that the bigger story includes AWS, advertising, AI infrastructure, logistics, streaming, subscriptions, and enterprise technology.
The latest growth angle came on June 24, when Amazon.com, Inc. (NASDAQ: AMZN) announced that AWS and Nokia are expanding their partnership to help telecommunications operators run fully autonomous, AI-powered networks through the cloud. This is not just another corporate partnership headline. It points directly to where the telecom industry may be heading: AI-managed networks, cloud-native infrastructure, automation, real-time anomaly detection, and self-healing systems. The centerpiece of the collaboration is Nokia’s Autonomous Networks Fabric, which runs on AWS. According to management, the platform combines AI-driven orchestration, network assurance, anomaly detection, and unified inventory management. That means Amazon.com, Inc. (NASDAQ: AMZN) is not only selling cloud capacity. It is helping telecom operators modernize the way their networks are managed.
The partnership relies on core capabilities such as unified data management, agentic AI for operations, digital twin simulations, and intent-based networking. These may sound like highly technical terms, but they are important for investors because they show how Amazon.com, Inc. (NASDAQ: AMZN) is expanding AWS into deeper enterprise and telecom use cases. Digital twin simulations can help operators test network changes before deploying them in the real world. Agentic AI can support operations by making intelligent decisions and automating workflows. Intent-based networking allows systems to interpret business goals and translate them into network actions. In plain language, Amazon.com, Inc. (NASDAQ: AMZN) and Nokia are trying to make telecom networks smarter, faster, more automated, and less dependent on manual intervention.
The early development results are notable. Management said operators are reporting automation rates above 90%, service delivery times of four hours or less, and service interruptions of just one minute per year. For telecom operators, those numbers could mean lower costs, faster service launches, better reliability, and improved customer experience. For Amazon.com, Inc. (NASDAQ: AMZN), it strengthens the case that AWS remains one of the most important cloud platforms in the world. This matters because AWS is still a key profit engine for Amazon.com, Inc. (NASDAQ: AMZN), even as the company continues to scale its retail, advertising, logistics, and subscription businesses. If AWS can keep expanding into AI-powered enterprise systems, telecom infrastructure, and autonomous operations, Amazon.com, Inc. (NASDAQ: AMZN) may have another major growth runway.
Wall Street remains bullish on Amazon.com, Inc. (NASDAQ: AMZN). On June 18, Bank of America Securities reiterated a Buy rating on Amazon.com, Inc. (NASDAQ: AMZN) with a $310 price target. Earlier on June 11, Barclays also reiterated an Overweight rating on Amazon.com, Inc. (NASDAQ: AMZN) with a $330 price target. Overall, the Street sees more than 40% upside from current levels. That is a major reason Amazon.com, Inc. (NASDAQ: AMZN) sits at the top of this ranking. The company already has scale, but it also still has meaningful expansion opportunities in cloud computing, digital ads, AI services, logistics efficiency, global retail, and enterprise infrastructure. It is rare for a company this large to still have so many growth levers.
Amazon.com, Inc. (NASDAQ: AMZN) is no longer just the online bookstore that disrupted retail. It is now a global technology and commerce empire with operations across e-commerce, cloud computing, advertising, entertainment, logistics, consumer devices, and artificial intelligence. For investors searching for best stocks to buy now, AI stocks with upside, cloud computing stocks, e-commerce stocks, digital advertising stocks, and millionaire-maker stocks, Amazon.com, Inc. (NASDAQ: AMZN) remains one of the strongest names in the market. The company’s size can sometimes make investors think the biggest gains are already behind it, but Amazon.com, Inc. (NASDAQ: AMZN) keeps proving that scale can become an advantage when paired with innovation, execution, and new market opportunities. Over the next three years, that combination could keep Amazon.com, Inc. (NASDAQ: AMZN) at the center of the stock market’s wealth-building conversation.
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Disclosure: No material interests to disclose. This article was originally published on Global Market Bulletin.
