Building a portfolio is often as much about how you construct it as the actual investments you pick. Investors can benefit from building a foundation for a portfolio using blue-chip technology stocks. While they aren't necessarily going to make you rich overnight, they can be reliable, steady growers that allow you to make some smaller, more speculative investments.

These three stocks have virtual monopolies. Their core businesses are dominant, with long-term growth opportunities to help them continue winning for their shareholders.

Young person charging their electric car.

Image source: Getty Images.

1. Tesla

Automotive companies dismissed the potential of electric vehicles (EVs) a decade ago, expecting Tesla (TSLA -2.44%) to fail when it launched the Model S. Many of those executives are likely regretting that choice now. Electric cars are becoming increasingly popular, while companies like Ford and General Motors are racing to electrify their vehicle lineups and catch up.

According to the International Energy Agency (IEA), the number of fully electric cars on the world's roads grew from virtually zero to more than 10 million over the past decade. Tesla has developed a first-mover advantage; it accounted for nearly 80% of all new EV registrations in the United States in the first half of 2020 and has become associated with electric vehicles the way Kleenex is with facial tissues.

Tesla has supported the growth of the EV market by steadily ramping up its deliveries from about 63,000 vehicles in first-quarter 2019 to 241,000 vehicles in third-quarter 2021, a roughly four-fold increase in just two and a half years. Tesla's growth is beginning to outpace its rising costs despite ongoing research investments and building new factories. Its 2021 Q3 net income grew 139% year over year to $2.09 billion.

According to, nearly half of all new cars sold could be electric by the end of the decade. Global carmakers are collectively investing as much as $500 billion in developing EVs and battery technology moving forward, so Tesla will have increased competition. Nonetheless, Tesla's headstart on the industry makes it likely to grab its fair share of the industry moving forward.

2. Amazon

Another pioneer, Amazon (AMZN -0.09%), was among the first e-commerce websites in the late 1990s when Jeff Bezos started Amazon as an online bookstore. Today, consumers can buy just about anything on Amazon and many can get their purchases delivered the next day. It has become the de facto leader of online shopping, grabbing 39% of all e-commerce retail sales in the United States in 2020.

Amazon has evolved into a technology conglomerate and oversees other businesses as well, including those related to cloud computing, digital advertising, entertainment, and more. Despite its massive size at $1.7 trillion in market cap and revenue that should approach $500 billion this year, there is a lot of growth left in the tank.

E-commerce sales accounted for just 13% of all retail sales in the United States in the third quarter of 2021. Hence, as the primary e-commerce player, Amazon has a lot of potential growth to realize as consumers continue migrating to online shopping.

The cloud computing business Amazon refers to as AWS has emerged as the primary profit stream for the company. While its revenue in Q3 2021 was just $16 billion, or 14% of total revenue, AWS contributed 100% of Amazon's $4.9 billion in operating income for the quarter. Amazon continues to work toward growth in e-commerce, so AWS helps support the business with its profits that offset losses in international markets. Investors can expect Amazon to continue growing and should monitor operating profit growth over the years to come.

3. Alphabet

Internet company Alphabet (GOOG 0.92%) (GOOGL 0.93%) owns arguably the most dominant business in the world. Google's market share of the world's internet searches is more than 92%, a staggering number considering we are talking about global share and not just a specific region. The revenue that ads generate through Google searches is nearly 60% of the company's total.

Alphabet also owns YouTube, the world's second most visited website after Google. YouTube also generates ad revenue for Alphabet as well as subscription revenue through its streaming platform, YouTube TV. Overall revenue grew 41% year over year in Q3 2021, driven by growth across the board in ads.

The short-term momentum shows that Alphabet is growing despite its large, $1.9 trillion market cap. Over the long term, the company's dominant position in web search could continue to drive ad growth. At the same time, its YouTube business could continue growing as content shifts from cable and broadcast sources to on-demand and streaming platforms. The platform boasts a whopping 2.3 billion users, so if Alphabet can extract more revenue from its viewers, the revenue potential is compelling.