How long does Warren Buffett like to own a stock? He's stated in the past that his "favorite holding time is forever." However, many overlook what the legendary investor said before that statement. He only wants to hold stocks forever when they are "outstanding businesses with outstanding managements."

The good news is that such stocks can be found today. Here are four growth stocks to buy and hold forever.

1. Amazon

Some companies say they're disruptors but really aren't. Amazon (AMZN -1.64%) can legitimately claim to rank as one of the most disruptive companies ever. Its e-commerce platform turned the retail market upside down. Amazon Web Services (AWS) pioneered the cloud hosting market. Along the way, Amazon stock delivered a return of more than 96x. However, its shares have struggled over the last 12 months.

Don't let Amazon's recent stock performance fool you. The company isn't finished disrupting. In particular, AWS has a massive growth opportunity ahead as organizations shift their IT spending from on-premises to the cloud. I think that AWS can realistically generate more revenue annually within the next 15 years than Amazon's entire business generates today.

Amazon will also seek to disrupt other markets. For example, it's now in the primary care business after the acquisition of One Medical. Maybe Amazon won't be successful on every front. It hasn't been in the past. However, only a few wins could make the stock a huge winner over the long term.

2. Disney

Is the magic once associated with The Walt Disney Company (DIS -0.70%) gone? Not at all. Sure, Buffett's longtime business partner Charlie Munger recently warned that Disney has a harder task before it than it's had in the past. He was right. But I would much rather bet on the House of Mouse than bet against it.

Disney expects that its popular Disney+ streaming service will be profitable by the end of fiscal 2024. The company's earnings will almost certainly kick into overdrive when this milestone is achieved. Meanwhile, Disney's theme parks continue to be highly profitable.

The most important reason Disney is a growth stock to buy and hold forever, though, is the company's ability to create content that attracts customers and monetize that content to the hilt. I don't see that ability fading. As long as it doesn't, Disney's magic will remain.

3. MercadoLibre

I have pounded on the table that MercadoLibre (MELI -1.18%) is an unstoppable growth stock to buy. Many investors probably wish they had bought it already, with MercadoLibre's shares up close to 50% so far this year. I think that's just a taste of what's to come.

You only have to look at MercadoLibre's latest quarterly results to understand why this stock is sizzling hot right now. Net revenue soared 56.5% year over year. Total payment volume on its e-commerce platform skyrocketed 80% on a constant-currency basis.

Even with these impressive numbers, MercadoLibre is only scratching the surface of its potential. The e-commerce penetration rate in Latin America is projected to grow significantly over the next few years. The region is a hot spot for fintech. MercadoLibre is poised to win in both arenas. 

4. Vertex Pharmaceuticals

There aren't many biotech stocks that I'd argue that you could buy and hold forever. However, Vertex Pharmaceuticals (VRTX 0.68%) is no ordinary biotech.

Most drugmakers face some competition in their markets. Vertex enjoys a monopoly in treating the underlying cause of cystic fibrosis (CF). Its nearest potential rival remains years away from even having a chance at launching a product. Vertex's CF franchise has made the company highly profitable and given it a hefty cash stockpile.

Few biopharmaceutical companies have as many game-changing pipeline programs as Vertex does. The company could soon win regulatory approvals for exa-cel, a gene-editing therapy that can cure rare blood disorders sickle cell disease and beta-thalassemia. It has high hopes for non-opioid pain drug VX-548. Vertex could even have a potential cure for type 1 diabetes in early stage development.

There are a handful of S&P 500 stocks that I think could at least double within the next seven years. Vertex Pharmaceuticals is one of them.