Investing $100,000 in These Stocks in 2023 Could Get You $1 Million by 2033

Obviously, if we knew with certainty which stocks are going to deliver 10-bagger returns over the next decade, investing would be easy and we'd all get rich. Unfortunately, there's no way to know for sure, and it's important for investors to understand that no stock capable of such extraordinary returns is without a significant amount of risk.

Having said all that, a 10x return in a decade translates to an annualized return of about 26%. This is certainly in the realm of possibilities for many high-potential companies, especially after the recent market declines, and here are two in particular that could grow to 10 times their current market cap if things go well in their businesses.

E-commerce disruption has a long way to go

E-commerce platform Shopify (NYSE: SHOP) trades for about 75% below its late-2021 peak, thanks to a combination of slowing e-commerce activity, recession fears, and valuation pressures on growth stocks in general.

However, there could be brighter days ahead. E-commerce still makes up only about 15% of all U.S. retail sales, and as Shopify's ecosystem continues to grow, it becomes more attractive to businesses (especially larger enterprises) that sell online. The company estimates its total addressable market opportunity to be about $160 billion, about 30 times its current revenue.