Amazon and On Holding Named as Stocks That Could Double by 2030
Two stocks that could double by 2030 are Amazon (AMZN) and On Holding (ONON), according to recent analysis. Both companies have shown impressive growth in their revenue, with Amazon's trailing 12-month revenue climbing 16% year over year to $775 billion as of the second quarter of 2026.
AWS, Amazon's cloud business, is seeing strong demand for artificial intelligence tools, pushing cloud revenue up 37% year over year. Analysts project earnings to grow about 20% annually in the coming years, which could support a 2x gain by 2030 given its reasonable forward price-to-earnings (P/E) ratio of 22.
On Holding has also shown significant growth, with revenue tripling on a trailing 12-month basis since 2022. The company's premium brand momentum is driving fast revenue growth and expanding operating margins, which could continue to support a double by 2030 given its forward P/E ratio of 18.