With so many exciting stocks out there, it's sometimes hard to decide on just a few to add to your portfolio at a particular time. But it's possible to make the right choice -- one that could help you on your path to wealth over the long term.

How should you do that? It's important to focus on players that have strong prospects, thanks to outstanding products or services -- or potential ones. And it's a great idea to get in on a company that may have a catalyst ahead or has reached an important turning point in its story, so you might benefit from a new wave of growth ahead.

Considering all of this, if I could only buy three stocks this year, I'd pick the following.

1. CRISPR Therapeutics

CRISPR Therapeutics (CRSP 5.70%) specializes in gene editing, or the repair of faulty genes responsible for disease. The technique could be a game changer for those suffering from illnesses linked to gene mutations because it may actually produce curative products.

Right now, CRISPR is heading for its biggest moment ever -- a regulatory decision on what may become its first commercialized product. The U.S. Food and Drug Administration (FDA) is set to decide on exa-cel for sickle cell disease in December and on exa-cel for beta thalassemia in March. Exa-cel is designed as a one-time curative treatment, so if approved, it could become a popular product -- especially since therapeutic options for these blood disorders are limited.

CRISPR has several other candidates in the pipeline, including another one that's close to the finish line. Immuno-oncology candidate CTX-110 is involved in a phase 2 trial that could support a regulatory submission.

All of this means CRISPR is right at the start of its growth story. If it scores even one regulatory approval, earnings and the share price could take off.

2. Moderna

Moderna (MRNA 3.49%) hasn't been very popular among investors in recent times because they've worried about the biotech's dependence on just one product with declining sales ahead. I'm referring to the coronavirus vaccine. It's likely to remain a billion-dollar product, but in a post-pandemic world, it won't generate the same level of sales we saw earlier in the health crisis.

But here's why Moderna is an excellent buy right now. The company aims to launch as many as 15 new products over the coming five years. And if all goes according to plan, Moderna predicts revenue of as much as $30 billion a few years down the road. Even if the company doesn't completely meet its ambitious product launch goal, it could still be a huge new growth story.

What are the chances of Moderna becoming a multiproduct powerhouse in the near future? Things are looking good. Moderna has several candidates in late-stage development, and its respiratory syncytial virus (RSV) vaccine candidate is under regulatory review right now.

With Moderna shares in the doldrums, today could be a great time to get in on this high-growth player of the future.

3. Amazon

Amazon (AMZN 2.94%) has reached an important turning point after a tough year or so. Higher inflation hurt the e-commerce giant in two ways: It increased Amazon's costs and weighed on the buying power of its shoppers.

But the retail leader used this as an opportunity to better prepare itself for the future so that it could succeed regardless of the market environment. To do this, Amazon worked on its cost structure, cutting jobs, becoming more efficient across its fulfillment network, and making investments in key areas such as artificial intelligence.

These efforts are producing results. In the most recent quarter, Amazon posted net income, compared to a net loss in the year-earlier period. The company also reported an inflow of cash over the trailing 12 months, compared with an outflow in the same period a year ago.

During the tough times, Amazon also supported its cloud computing clients by offering them lower-priced data storage options. Now, these clients are starting to increase spending again. This is important because Amazon Web Services has generally been Amazon's profit driver.

I already own Amazon shares but would gladly add to my position, even after this year's gains. They still have plenty of room to run, considering Amazon's cost-cutting and growth initiatives. That's why Amazon would be one of my top investment choices right now.