The stock market might be on shaky ground right now, but that shouldn't scare investors who have a long-term time horizon. After all, history is clear in proving that the broader market always rises over a long enough period. 

The technology-focused Nasdaq 100 index, for example, is down 27% so far in 2022. But over the last five years it has more than doubled, and over the last 10 years it has more than quadrupled -- even after including this year's losses. 

With that in mind, a down market can actually be the best time to put money to work because it offers more potential upside when things recover. Here are three individual technology stocks that could grow a $300,000 investment into $1 million in the next decade for patient investors. 

1. Advanced Micro Devices

Any new, popular consumer product with digital features is powered by advanced computer chips commercially known as semiconductors. They're in everything from smartphones to electric vehicles, and Advanced Micro Devices (AMD 1.33%) is recognized as one of the world's best producers.

AMD's chips are so popular that they power not one, but both of the globe's leading game consoles -- Sony's (SONY -0.33%) PlayStation 5 and Microsoft's (MSFT -2.45%) Xbox. And Tesla (TSLA 4.96%), the leader in electric vehicle sales, has chosen AMD's semiconductors to drive the powerful infotainment systems that control its in-car features, and also allow the user to browse the web and play games. 

The company has become a financial powerhouse, growing its revenue by a compound annual growth rate of 30.8% between 2016 and 2021, with analysts expecting a whopping 60% growth in 2022 which could see sales top $26.3 billion. 

For AMD stock to help turn $300,000 into $1 million in 10 years, it would have to grow its revenue by an average of 12.7% in each of those coming years, assuming its current price-to-sales multiple remained the same. It has crushed that number over the last five years, and with its recent acquisition of Xilinx, the company may be set to unlock an entire new phase of growth as the leader in adaptive computing. 

2. Nvidia

Like AMD, Nvidia (NVDA 3.71%) is also primarily a semiconductor company. But it's building an innovative platform computing business to complement its advanced chip technology. In fact, this could be the main driver of the company's growth in the future, with trillions of dollars worth of potential opportunities.

The company's DRIVE platform, for instance, provides car manufacturers with the hardware and software they need to build autonomous vehicles. From 2024, Mercedes Benz will be the first of 35 brands to roll out new vehicles fitted with Nvidia's self-driving technology. So far, Nvidia has built a sales pipeline worth $11 billion in this segment, but its addressable market could exceed $2.1 trillion per year by 2030. 

While that's a glimpse into Nvidia's future, it's doing great in the present with its two largest chip segments, gaming and the data center. Together, they made up 88% of the company's $8.29 billion in revenue during the first quarter of fiscal 2023 (which ended on May 1). 

Data centers are particularly interesting because they're no longer a place to simply store information. Thanks to Nvidia, they've become hives of activity driven by artificial intelligence, which is used to extract valuable insights that can help businesses unlock value.

Between fiscal 2017 and fiscal 2022, Nvidia grew its revenue at a compound annual growth rate of 31.2%, and analysts estimate sales will top $33.7 billion in fiscal 2023. That would represent a marginally slower growth rate of 25.3%, but it's still more than enough for Nvidia's stock to deliver the required return over the next decade.

3. GoPro

The final stock that could deliver $1 million in retirement as part of a $300,000 investment is action camera leader GoPro (GPRO -3.39%). This stock carries a little more risk than the other two; while shares of AMD and Nvidia have fallen 47% and 51% from their all-time highs, respectively, GoPro is down by more than 93%. Its high dates back to 2014, shortly after it listed on the public markets, and it has been on a downward spiral ever since.

But the company has recently found new life. It's profitable again and it's unlocking new revenue streams that could drive growth long into the future. GoPro has always been a hardware maker first, with a keen focus on delivering the most innovative cameras on the market. However, it's now offering two subscription services with a third on the way, and they're attracting users at a rapid rate.

Its primary subscription is for its GoPro.com website. For $49.99 per year, customers can access exclusive product discounts, unlimited cloud storage, and the ability to livestream videos directly from their GoPro device. 1.74 million people had subscribed as of Q1 2022, an 85% jump compared to the same period last year.

GoPro's sales have been lumpy over the last few years as it navigated the pandemic and simultaneously tried to build out its new revenue streams. But in 2022, the company's total revenue could hit $1.24 billion, the highest mark since 2015. 

Here's the real draw. Based on GoPro's earnings per share of $0.90 in 2021, it trades at a price-to-earnings multiple of just 6.6. That's a 73% discount to the Nasdaq 100 index, which trades at a multiple of 25, implying GoPro stock would need to almost quadruple just to trade in line with the broader market.

A lack of consistent growth means it may not get there right now, but the quality of its business is improving rapidly, so over the next 10 years it's a legitimate probability.