Bloom Energy (BE +2.81%) stock could be an explosive growth stock over the next decade. The shares have rocketed 240% year to date as of Oct. 6, but I believe it's just getting started.
Revenue reached nearly $1.1 billion in the second quarter, up 166% year over year. This marked the company's first $1 billion quarter, and management raised full-year guidance to $3.9 billion to $4.2 billion, roughly double the 2025 figure.
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Bloom Energy is solving a major pain point in building new data centers: getting access to power. Lead times for new gas turbines can take at least a few years -- time that data center customers don't want to waste.
During the Q2 earnings call in July, Bloom Energy CEO K.R. Sridhar said some customers have canceled their orders for gas turbines and are choosing Bloom instead. Bloom can deliver fuel cells in months instead of years. Its order backlog is now growing faster than its revenue.
NYSE: BE
Key Data Points
If AI spending slows or the company runs into manufacturing or execution problems, that could hurt its financial performance and send the stock price down. The stock is trading at a lofty forward price-to-earnings multiple of 109 based on 2026 estimates. The company will need to sustain high growth for several years to justify it.
But the long-term upside could far outweigh near-term downside risks. Analysts expect the company's earnings to grow at an annualized rate of 86% in the coming years. This looks like one of the best stocks to profit from the biggest friction point in the AI build-out. If Bloom keeps delivering, a decade-long hold could lead to wealth-building gains for investors.
