Retiring a millionaire is a goal for many investors, because it is a threshold many feel is necessary to retire comfortably. While it's possible to reach this status with market-tracking funds like ETFs, individual stocks can achieve this goal much faster by picking the correct ones.

If that's more your speed, I've got three stocks that I think can supercharge your portfolio returns and help you retire a millionaire someday.

CrowdStrike

When assessing a company's growth potential, it's essential to consider the future operating environment and if the company could be disrupted. CrowdStrike (CRWD -0.40%) operates in the cybersecurity industry, which is slated to grow significantly over the coming years due to bad actors ramping up attacks. Another buzzword in the tech industry is artificial intelligence (AI), and companies that don't use it will likely be left in the dust.

Fortunately for investors, CrowdStrike has a top-notch cybersecurity platform based on AI and can prevent and stop breaches thanks to the trillions of signals it analyzes weekly. Its solution is wildly popular, with its customer base growing by 41% to more than 23,000 in fiscal year 2023 (ended Jan. 31). However, it hasn't captured every possible customer, as only 556 of the Global 2000 and 271 of the Fortune 500 are clients. Existing customers also contribute a lot to growth, the the average customer spending $125 in Q4 for every $100 they spent last year.

CrowdStrike also has a huge potential market, and management believes its current offerings constitute a $76 billion total addressable market. However, that figure will rise to $158 billion by 2026 with market growth and planned product launches. Although the company has yet to turn a profit, by other metrics the stock doesn't look all that expensive at 13.5 times sales and 45 times free cash flow.

If you're looking for huge upside in a stock, CrowdStrike should be at the top of your list.

Taiwan Semiconductor

Another cornerstone in stock investing is identifying companies that the market may not appreciate due to short-term conditions. You won't become a millionaire overnight through investing, so taking the long view can reveal some stocks that are genuine bargains.

Taiwan Semiconductor (TSM -0.81%) falls into this category, as the slowing semiconductor market has spurred investors pessimism. TSMC is the world's largest chip contract manufacturing company, so it doesn't market its chips. Instead, it makes chips for customers such as Apple and Nvidia. With world-leading 3 nanometer (nm) chip technology, it's at the cutting edge of its industry.

But, with the PC market affecting every company in the value chain, Taiwan Semiconductor has taken a hit. In Q1, revenue fell 4.8% year over year in U.S. dollars (up 3.6% in local currency). That trend is expected to continue, with analysts predicting revenue to fall by 6% in 2023. However, they forecast revenue growth of 22.2% in 2024.

This increase can be attributed to TSMC's 3 nm chip technology finally contributing to the company's top line, as it generated no revenue in Q1. This indicates a significant upside for TSMC, but the stock is trading as if it will never recover.

TSM PE Ratio Chart

Data source: YCharts TSM PE Ratio

Even when its earnings decline during the next 12 months is factored in, Taiwan Semiconductor still trades below where it has over the previous five years. This looks like a strong entry point, and investors should use this short-term weakness to their advantage.

MercadoLibre

I've discussed a stock that has huge upside and a stock that is undervalued, but what about a company that checks both those boxes? I believe MercadoLibre (MELI 0.95%) fits that description, and investors should pay attention to this one.

MercadoLibre is the dominant player in Latin American e-commerce. Its offerings include an online store, shipping logistics, digital payments, and a consumer credit division -- kind of like a combination of Amazon and PayPal.

This combination has resulted in explosive growth, and Q1 was no exception. Revenue rose 58% on a currency-neutral basis, and operating margin increased by 5 percentage points to 11.2%. Even with MercadoLibre increasing its profitability, the company can still rapidly increase revenue.

It also has enormous upside, and Latin America has a large population attempting to break through to the middle class.

Fortunately for investors, the stock trades well below its historical valuation range for all of that upside and strong growth.

MELI PS Ratio Chart

Data source: YCharts MELI PS Ratio

MercadoLibre looks like a great buy at these prices, and investors who purchase this stock will position themselves well to become a millionaire with a long enough holding period.