Doubling your money by 2030 is realistic if you stick with the right businesses. Owning proven brands with clear runways for growth can be a smart way to aim for big returns without making reckless bets with your savings.
Amazon (AMZN -0.94%) and On Holding (ONON +1.99%) are both delivering high-double-digit revenue growth, and analysts expect earnings to rise around 20% annually in the years ahead. Yet each stock trades at a reasonable forward earnings multiple -- setting up a credible path to a potential 2x return by 2030.
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Amazon
Amazon looks well-positioned for long-term growth. Its massive base of Prime members supports repeat purchases and steady subscription revenue. On top of that, its fast-growing cloud business generates strong margins, which can translate into above-average earnings growth and better returns for shareholders.
Through the second quarter of 2026, trailing 12-month revenue climbed 16% year over year to $775 billion. E-commerce is picking up steam, with sales up 15% year over year in the second quarter. Amazon Web Services (AWS) is seeing strong demand for artificial intelligence (AI) tools, pushing cloud revenue up 37% year over year.
AWS is now at a $169 billion annualized revenue run rate and delivering a sizable share of the company's profits. Ongoing efficiency gains, better capacity use, and lower-cost custom chips could help drive meaningful profit growth at AWS over the next several years.
Management expects increases in capital spending to support AI demand to drive healthy long-term margins. Analysts project earnings to grow about 20% annually in the coming years. With the stock trading at a reasonable forward price-to-earnings (P/E) ratio of 22, that kind of growth could plausibly support a 2x gain by 2030.
NYSE: ONON
Key Data Points
On Holding
On Holding still appears to be a potential global leader in athletic wear. It's building a premium brand around its popular Cloud running shoes. Yet the stock is down 51% from its all-time high, giving investors a chance to buy a fast-growing business at a much better price.
Revenue has tripled on a trailing 12-month basis since 2022. Management says new flagship stores in Europe are off to a strong start. Revenue rose 22% year over year on a constant-currency basis in Q2, suggesting the stock has fallen out of sync with the company's momentum.
Profitability is improving, too. Operating profit jumped 63% year over year on a trailing 12-month basis, indicating expanding margins and pricing power. That kind of margin progress is often a sign that the brand is getting stronger. Management also noted that customers under 34 now account for more than a third of its customer base.
Co-CEO David Allemann summed up the mindset behind the results: "We are not sprinting for short-term volume. We are deliberately engineering for the multi-decade value of a premium brand."
That long-term approach can reward patient investors. With the stock trading at what looks like an overly low forward P/E of 18, continued execution -- and something close to the consensus view of 25% annualized earnings growth -- could be enough to power a double by 2030.
