It might not seem like a great time to invest in growth stocks. The S&P 500 looks historically expensive at 30 times earnings, the Trump administration's unpredictable tariffs and trade wars are still rippling through the markets, and the Federal Reserve seems reluctant to cut its benchmark interest rates.
But if you look beyond those challenges, you can still find a few growth stocks that could turn a $3,000 investment into $6,000 (or more) in a few years. Let's examine three of those stocks in the quantum computing, eVTOL, and fintech markets: D-Wave Quantum (QBTS -8.27%), Joby Aviation (JOBY 9.90%), and Chime Financial (CHYM 5.91%).
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The quantum computing play: D-Wave Quantum
D-Wave Quantum develops quantum annealing tools, which help large organizations optimize their workflows, supply chains, and logistics networks. It builds its own quantum computing systems to support those services, and it also serves up those tools as cloud-based services.
Traditional computers still store zeros and ones in binary bits, but quantum computers store them together in "qubits" to process larger amounts of data at a faster rate. As a quantum-powered "efficiency expert," D-Wave runs a company's processes through its systems and identifies the ones that consume the least power as the most efficient ones. That approach could help it disrupt traditional cloud-based analytics services.
From 2024 to 2027, analysts expect D-Wave's revenue to surge at a compound annual growth rate (CAGR) of 100% from $9 million to $71 million. Most of that growth should be driven by its newest Advantage2 quantum system -- which can solve complex problems roughly 25,000 faster than its first-gen system -- and the conversion of its lower-revenue cloud service customers into higher-revenue system buyers.
The company is still deeply unprofitable and its stock isn't cheap at 75 times its 2027 sales, but it might eventually grow into those valuations as the nascent quantum computing market expands.
The eVTOL play: Joby Aviation
Joby Aviation develops electric vertical takeoff and landing (eVTOL) aircraft. Its top investors include Delta Air Lines and Toyota Motor. Its flagship S4 aircraft can carry a single pilot and four passengers, travel up to 150 miles on a single charge, and achieve a maximum speed of 200 mph. It promotes its aircraft as a greener and quieter alternative to traditional helicopters, and they're generally easier to land in crowded urban areas.
Joby's S4 has a longer range and a higher speed than its closest competitor, Archer Aviation's (NYSE: ACHR) Midnight aircraft. It's also been developing a hydrogen-powered version of the S4. The Federal Aviation Administration (FAA) is on the cusp of approving its U.S. commercial flights, and it plans to launch its first air taxi routes soon.
Joby only generated $130,000 in revenue in 2024, but analysts expect that figure to surge to $130 million in 2027 as its commercial flights take off. It's still bleeding a lot of red ink and its stock looks expensive at 93 times its 2027 sales, but it could be a promising long-term play on the eVTOL market.
The fintech play: Chime
Chime's fintech app provides its users with free checking and savings accounts with overdraft protection and early pay features. It also offers a Visa (NYSE: V) debit card (with fee-free access to over 50,000 ATMs) and a low-limit credit card. It generates most of its revenue by taking a cut of the swipe fees Visa charges on those cards.
But Chime isn't a bank -- it merely connects its users to two FDIC-insured partner banks that hold and manage those accounts. As a mobile middleman, Chime provides free financial services to lower-income users who don't have enough assets to access fee-free checking and savings accounts at larger banks. Its early-pay features are also useful for people who live paycheck to paycheck, and its credit card helps its customers build up their credit scores.
Chime's dedication to those underserved consumers is paying off. From 2024 to 2027, analysts expect its revenue to grow at a CAGR of 22% from $1.7 billion to $3.1 billion. They also expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn green in 2025 and grow at a CAGR of 124% to $446 million over the following two years. With an enterprise value of $8.9 billion, it still looks like an undervalued growth play at 4 times this year's sales.
