The Nasdaq Composite is down about 14% year to date, with the value of many top growth stocks being slashed in half. As with any market correction, there are going to be big winners emerging from this downturn. Investors who keep a long-term time horizon and invest accordingly will be way ahead of the game.

The popular gaming platform Roblox (RBLX -3.50%) and software provider Unity Software (U -5.55%) could be great stocks in which to park some extra cash. Here's why these two stocks could double in value by 2030.

A child and adult playing a game on a tablet.

Image source: Getty Images.

1. Roblox

Share prices of Roblox are down 62% year to date. The company reported strong revenue growth through 2021, with the top line increasing 83% year over year in the fourth quarter. But investors are concerned about slowing growth in 2022. Analysts currently expect revenue to increase just 5.4% in 2022 before reaccelerating to 21.6% in 2023. 

Still, Roblox only has 55 million daily active users, which leaves a lot of room for more growth in the gaming industry. Over the last two years, the number of daily active users and total hours spent on the platform have more than doubled. This has fueled robust growth in revenue, as players spend money on virtual currency to unlock extra content on the platform. Since 2019, Roblox's quarterly revenue has more than tripled to $568 million as of the fourth quarter.

With Roblox's market cap at $23.5 billion, it's not difficult to imagine the stock doubling in value by 2030. A double would put Roblox's market cap at around $50 billion, which is in line with a top game company like Activision Blizzard

Considering its growing base of players, Roblox will undoubtedly deliver satisfactory returns for shareholders who can remain patient with the market volatility in the near term.

2. Unity Software

Unity Software is another gaming-related company with tremendous upside potential. Unity is the leading software platform for real-time 3D content. It is widely used by game developers and other graphics professionals in filmmaking, architecture, and other non-gaming industries. Revenue increased by 44% in 2021 to reach $1.1 billion. It can sustain a high growth rate for at least a few more years, which is why the recent sell-off could be a great buying opportunity.

The 3D rendering market is estimated to expand at a 20% annualized growth rate through 2026, according to Global Market Insights. Management has estimated its addressable at over $40 billion. 

The beauty of Unity's business model is that it generates recurring revenue from subscriptions to its software platform. Plus, it has revenue-sharing services, such as voice services and cloud hosting within certain video games, that allow Unity to piggyback on the success of game companies that use its software.  

Like Roblox, Unity has a relatively low market cap of $25 billion. Given the opportunities to serve a growing gaming industry that is expected to reach over $300 billion by 2027, the stock could double by 2030, especially if Unity continues to grow revenue around 30% per year, which is management's long-term outlook.