In the dynamic world of growth investing, even giants can stumble, prompting savvy investors to explore opportunities beyond the usual suspects. While Apple (NASDAQ: AAPL), a staple of many portfolios, has seen its shares decline by nearly 20% this year—making it one of the less stellar performers among the “Magnificent Seven”—the market’s movements often open the door for companies with more explosive growth potential. For those looking for the next “millionaire-maker” stocks, two names stand out: MercadoLibre and Rocket Lab USA.

First, consider MercadoLibre (NASDAQ: MELI), often dubbed the “Amazon of Latin America.” This powerhouse is capitalizing on the massive, yet still nascent, e-commerce and fintech boom across Latin America. The company’s recent financial performance speaks volumes, with revenue surging by 37% and net income jumping by 44% in its most recent quarter. As the region’s largest e-commerce network, MercadoLibre has an incredible runway for growth. Its fintech arm, Mercado Pago, is also growing rapidly, hitting 64 million monthly active users, becoming an indispensable financial tool. While Latin America’s economic conditions can bring volatility, the sheer scale of the opportunity positions MercadoLibre for significant long-term expansion.

Next, for investors with a bullish outlook on the space economy, Rocket Lab USA (NASDAQ: RKLB) presents a compelling opportunity. This innovative company is carving out a niche in providing small satellite launches using reusable rockets, a business model reminiscent of SpaceX but focused on a different segment of the market. The demand for space launches is exploding, driven by needs for meteorological, navigational, mapping, reconnaissance, and communication equipment, as well as critical military and intelligence applications. Rocket Lab has cemented its position with key partnerships, including those with the U.S. Department of Defense and Space Force. Its stock has already seen excellent performance, advancing by nearly 600% over the last 12 months, fueled by a 43% increase in trailing-12-month revenue. However, it’s crucial to acknowledge the inherent risks, including its current lack of profitability, negative free cash flow, and fierce competition from well-funded giants like SpaceX and Blue Origin.

While Apple faces a challenging year, investors seeking higher growth could consider MercadoLibre and Rocket Lab USA. MercadoLibre offers massive potential in Latin America’s growing e-commerce and fintech sectors, while Rocket Lab USA is poised to benefit from the booming space economy and increasing demand for satellite launches. Both companies, despite their respective risks, offer compelling growth stories for those aiming for “millionaire-maker” returns.

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