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3 Hyper-Growth Stocks That Have Unstoppable Momentum

In the rollercoaster ride that was 2022, the best hyper-growth momentum stocks took a monumental beating. The Federal Reserve’s aggressive interest rate hikes and macroeconomic factors had growth stocks to buy plummeting across the board.

As skittish investors fled from growth stocks, the once-lofty valuations of growth stocks are now more attractive than ever, presenting a tantalizing buffet of opportunities for long-term investors with a keen eye for potential.

So, what makes hyper-growth momentum leaders so alluring? These companies boast revenues and net income growth rates that leave the market average in the dust. Investors looking for exponential returns scoop them up, expecting share prices will skyrocket in line with their rapid growth.

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Therefore, despite the perils of investing in growth stocks, they will always remain relevant for investors with a strong risk appetite. With that being said, let’s look at three of the best hyper-growth momentum picks to invest in now.

BYDDY

BYD 

$60.81

SQM

Sociedad Quimica y Minera de Chile

$70.25

INTU

Intuit

$426.38

BYD (BYDDY)

A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDY).
A close-up view of the power supply plugged into a vehicle from BYD Company (BYDDY).

Source: J. Lekavicius / Shutterstock.com

The Chinese auto behemoth BYD (OTCMKTS:BYDDY) has been touted as a “Tesla killer” and for good reason. It earned its spot as one of Tesla’s top rivals and has effectively eclipsed the EV titan in China’s market share. It also impressed with its tremendous performance in crafting mid-market EVs, despite Tesla’s aggressive pricing strategy.

BYD ended last year clinching the title of the world’s top EV seller. However, its ambitions extend far beyond EV market dominance.

The EV giant has effectively ventured into the electric bus market, delivering over 70,000 units globally, dabbling with the fast-growing artificial intelligence arena.

BYD forged a relationship with AI titan Nvidia, to elevate the driving experience of its vehicles, potentially gaining a heads-up in driverless technology as companies double down on autonomous driving advancements.

Sociedad Quimica y Minera de Chile (SQM

a lithium mine, ATLX stock
a lithium mine, ATLX stock

Source: Shutterstock

Sociedad Quimica y Minera de Chile (NYSE:SQM) has established its position as a titan in the realm of lithium production, having skillfully carved a niche as a top battery manufacturer.

This Chilean specialty chemicals powerhouse leverages its nation’s rich lithium reserves and business-friendly environment to continue driving its operations to new heights.

Over the past decade, SQM’s financial prowess has dazzled investors, with revenues surging by a mind-boggling 386% to reach a jaw-dropping $10.7 billion last year. This stunning ascent is attributable to the whopping growth in lithium sales, propelled by the metal’s growing demand across a myriad of sectors.

Its eye-catching fundamentals make it a no-brainer growth stock bet. It earns a 10/10 growth rank from GuruFocus, with its historical growth rates comfortably ahead of industry averages.

Its 3-year free-cash-flow growth rate of 221% ranks higher than 99% of the firms in its niche. As we advance, SQM remains in an enviable position to continue blowing past internal and analyst estimates.

Intuit (INTU)

Person holding cellphone with logo of US financial software company Intuit Inc. (INTU) on screen in front of business webpage. Focus on phone display. Unmodified photo.
Person holding cellphone with logo of US financial software company Intuit Inc. (INTU) on screen in front of business webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

Tech giant Intuit (NASDAQ:INTU) offers a robust suite of financial services software such as TurboTax, QuickBooks, and Credit Karma, which have proven ubiquitous.

Investing in INTU stock comes with a dividend and quite a hefty one at $3.12 annually. Also, its payouts have grown by an astounding 10 consecutive years, offering a total return of 666%.

Bolstering this success, Intuit consistently outperforms its revenue and earnings expectations. In the past 20 consecutive quarters, the firm has missed earnings expectations in just two quarters.

Its revenues have grown by a remarkable 20.4% in the past five years, comfortably ahead of the sector averages. Similar is the case with its profitability metrics, which continue to swell despite the market headwinds. Although it may not have the same recognition as other tech giants, Intuit has rewarded long-term investors handsomely.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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