BeatenDown

Becoming a millionaire through stock investing is possible, but it requires patience, discipline, and the acumen to make informed investment choices. Not every company can generate the kind of returns over the long run that will help you achieve that goal — in fact, most probably won’t.

Buying ETFs that track the performance of major indexes is a low-risk strategy, but perhaps you can do better by picking out stocks that can post superior gains. It’s even better to invest in companies that have been beaten down, but still boast significant upside potential and attractive long-term prospects.

That brings us to CRISPR Therapeutics (CRSP 1.15%), a mid-cap biotech. The company’s shares have slumped more than 60% from all-time highs achieved in early 2021. Does it have what it takes to deliver competitive-enough returns to help you become a millionaire?

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Banking on pipeline progress

Smaller, unprofitable biotech companies, such as CRISPR Therapeutics, thrive on strong clinical and regulatory progress. The company’s shares could soar over the next five years if it impresses the market in those areas.

CRISPR’s current leading pipeline candidates include CTX310, a gene-editing therapy being developed to lower LDL (“bad”) cholesterol and triglycerides (TGs, a type of fat). Its goal is to inactivate the ANGPTL3 gene, which plays a role in regulating both. While they’re significant risk factors for various types of common heart diseases, there are few treatment options aimed at reducing LDL and TGs.

CTX310 is progressing well in clinical trials so far. In an ongoing phase 1 study, the medicine led to significant reductions in both LDL and TG levels. There are 40 million patients in the U.S. alone who have high levels of either or both. Although CRISPR Therapeutics will focus on high-risk patients, the commercial opportunity is vast. That’s why consistent positive data should jolt the stock, as it already has this year; shares are up by 48% this year thanks to progress with CTX310.

Elsewhere, CRISPR’s CTX320 is being developed to help decrease levels of liporotein(a), which is a risk factor for heart attack and strokes. Therapy options here are also limited. In other words, CRISPR Therapeutics is developing potentially breakthrough medicines for conditions with high unmet needs and large patient populations.

Its gene-editing platform already has an approved product on the market: Casgevy, which it created and developed in collaboration with Vertex Pharmaceuticals. Although CRISPR Therapeutics doesn’t generate much revenue from it yet, Casgevy was a significant milestone, as no such therapy had received approval before; the approval demonstrated that the biotech’s CRISPR-based gene-editing medicines can clear regulatory hurdles.

What’s more, CTX310 and CTX320 look even more commercially viable than Casgevy. Here’s why. Casgevy is an ex vivo gene-editing therapy, which means the process to administer it involves collecting a patient’s cells, manipulating and editing them, then reinserting them back into the patient. The process is highly complex and can only be done in authorized treatment centers.

CTX310 and CTX320, in contrast, are both in vivo medicines that bypass the cell collection process and are administered via intravenous infusions. This is another important reason that their progress could lead to massive gains for CRISPR Therapeutics in the next five years or so.

A millionaire-maker stock?

What about beyond the end of the decade? Becoming a millionaire through stock investing typically requires at least a couple of decades, and often more. Can CRISPR Therapeutics perform well for that long? It’s hard to say. The company has even more investigational therapies in its pipeline that could make progress in the long term. And its highly innovative gene-editing platform could produce even more gems.

That said, there’s a significant risk involved. CRISPR Therapeutics could face clinical and regulatory setbacks. If these issues arise with its leading candidates in the next few years, they’re likely to affect its stock price, especially considering it currently operates at a loss. Competing medicines are also being developed by other companies, which could reduce its commercial opportunity later.

CRISPR Therapeutics has significant upside potential, but investors should note that the stock carries a higher level of risk. If you’re comfortable with volatility, you might consider initiating a small position in the company. However, it shouldn’t be one of the largest holdings in a well-diversified portfolio that’s designed to help average investors become millionaires.

ASML Holding (ASML 0.10%) is one of the most important players in the global semiconductor industry. The Dutch semiconductor equipment giant manufactures machines that play a critical role in helping chipmakers and foundries print advanced chips.

However, ASML stock has been subdued since hitting an all-time high on July 8 last year. It has shed 11% of its value since then, while the broader PHLX Semiconductor Sector index has gained 10% during this period. ASML’s underperformance since July last year can be attributed to the potential effect of tariffs on the company’s equipment sales, along with its poorer-than-expected guidance for 2025.

The good part is that ASML stock has started gaining some momentum lately. The stock has jumped 27% in the past month, thanks to positive Wall Street commentary and the strength of the semiconductor market owing to the robust demand for artificial intelligence (AI) chips. It won’t be surprising to see ASML sustaining this momentum and delivering solid gains to investors over the next three years.

Let’s see why this semiconductor stock is primed for more upside by 2028.

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AI is set to drive stronger growth in semiconductor equipment spending

The proliferation of AI has played a central role in driving robust growth in semiconductor demand over the last three years. The picture for the next three years seems favorable as well, with Advanced Micro Devices CEO Lisa Su forecasting that sales of AI accelerator chips such as graphics processing units (GPUs) and custom processors are set to increase at an annual pace of 60% through 2028, generating a massive $500 billion in annual revenue.

It won’t be surprising to see that happening, given how fast the demand for AI computing in the cloud is increasing. Cloud infrastructure providers such as Oracle, Microsoft, Google, and Amazon don’t have enough data center capacity at their disposal to meet customer demand for training and deploying AI models, or for running inference applications in the cloud.

This has led to a massive order backlog at the leading cloud computing companies. For instance, the combined backlog of Amazon, Microsoft, and Google stood at a whopping $669 billion at the end of the previous quarter. Oracle recently reported remaining performance obligations (RPO) worth a whopping $455 billion, up by a massive 359% from the year-ago period.

So, these cloud giants are already sitting on more than $1 trillion in revenue backlog that they need to fulfill. That’s the reason why the spending on chipmaking equipment can be expected to accelerate over the next three years, as these companies are likely to keep spending huge amounts of money on setting up data center infrastructure. That’s going to create demand for more chips, which in turn will lead to an increase in demand for the chipmaking equipment that ASML sells.

What’s worth noting is that the chips used for tackling AI workloads — be it in data centers, personal computers (PCs), or smartphones — are manufactured using advanced process nodes. These advanced nodes help make chips with small transistor sizes, usually below 7-nanometer (nm). Not surprisingly, leading chipmakers are looking to make their chips smaller to increase computing performance and reduce energy consumption simultaneously.

ASML is the only company that can help chipmakers print smaller chips with its high NA (numerical aperture) extreme ultraviolet (EUV) lithography machines, which can be used for making chips that are just 2nm in size. This explains why companies such as SK Hynix, Intel, and Samsung have been lining up to purchase ASML’s high NA machines to further shrink the size of their process nodes in a bid to manufacture cutting-edge chips.

ASML’s monopoly-like position in the EUV lithography market explains why the demand for its equipment is expected to take off. S&P Global estimates that ASML’s EUV sales could rise an impressive 49% this year, followed by further growth in unit volumes and the average selling price (ASP) through the end of the decade.

Industry association SEMI is expecting the spending on equipment capable of producing advanced chips to increase to more than $50 billion by 2028, which would be a big jump from last year’s outlay of $26 billion. This could pave the way for substantial upside over the next three years.

ASML could turn out to be a solid investment for the next three years

The points discussed above make it clear that ASML has the potential to deliver solid growth over the next three years. Its earnings growth is expected to accelerate remarkably in 2028 following an expected single-digit increase next year.

ASML EPS Estimates for Current Fiscal Year data by YCharts.

What’s worth noting is that ASML’s net income has increased by 67% in the first six months of 2025 from the same period last year. Given that the company is expected to witness a nice jump in the ASP of its EUV machines over the next three years, especially the high-NA machines, there is a solid chance that it could deliver stronger growth than what analysts are forecasting.

Assuming it can clock even $40 per share in earnings in 2028 and trades at 33 times earnings after three years (in line with the tech-laden Nasdaq-100 index), its stock price could hit $1,320. That would be a 38% increase from current levels. But don’t be surprised to see this AI stock delivering much bigger gains. The market could reward it with a premium valuation on account of the potential acceleration in growth.

Investors haven’t been kind to Intuitive Surgical (ISRG 2.67%) and Regeneron Pharmaceuticals (REGN 0.96%) this year. Both healthcare leaders have encountered company-specific issues that have led to sell-offs. Intuitive Surgical’s stock is down 15% this year, while Regeneron has shed 21% of its value.

However, there are excellent reasons to think both companies could rebound, and if that’s the case, now might be a wonderful time to purchase their shares on the dip. Here’s why I remain bullish on these medical companies.

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1. Intuitive Surgical

Intuitive Surgical is facing at least two main issues. First, President Donald Trump’s tariffs could have a significant impact on the company’s financial results, potentially decreasing its earnings. Second, there is mounting competition in its niche. Intuitive Surgical develops and markets robotic-assisted surgery (RAS) devices. Its best-known one is the da Vinci system, which is cleared across a range of indications, from general surgery to urologic procedures, weight loss surgeries, and more.

However, medical device giant Medtronic is inching closer to launching its Hugo system in urologic procedures in the U.S. Do these challenges make Intuitive Surgical’s prospects unattractive? Not at all, in my view. Even with the impact of tariffs, the company’s financial results remain excellent. Second-quarter revenue grew by 21% year over year to $2.44 billion, despite a 1% hit from tariffs.

Also, although competition is intensifying, the RAS market remains deeply underpenetrated. Furthermore, Intuitive Surgical has a significant established lead in this field, having launched its da Vinci system in 2000. The company’s advantage doesn’t just come from its large installed base of 10,488 systems as of the second quarter. Real-world use of its crown jewel has proven its efficacy beyond what can be established in clinical trials, and it has also provided Intuitive Surgical with the data and insight to improve its device.

Last year, the company launched the fifth generation of its da Vinci system, which was well-received in the market. Intuitive Surgical also benefits from high switching costs associated with the price of its da Vinci systems, making it likely to retain most of its customers. The company will profit from increased demand for surgical procedures. Though it makes money from the sale of its devices, it makes even more revenue from instruments and accessories, which is tied to procedure volume.

That’s a long-term trend that could ride for a while, given the world’s aging population and increased demand for medical services. So, Intuitive Surgical might be down right now, but the stock remains attractive to long-term investors.

2. Regeneron

In the second quarter, Regeneron’s revenue increased by 4% year over year to $3.68 billion. While that may not seem impressive, it’s essential to put things into perspective. The drugmaker is facing competition, including from biosimilars for Eylea, a medicine used to treat wet age-related macular degeneration. However, it is mitigating the losses associated with that product, thanks to a new, high-dose formulation of it, whose sales should continue moving in the right direction as it earns some label expansions.

The rest of Regeneron’s lineup looks pretty strong. The company’s revenue from cancer medicine Libtayo is growing at a healthy clip, while its most important growth driver, eczema treatment Dupixent, remains as robust as ever. Regeneron shares global rights to Dupixent with Sanofi. The medicine has been performing well over the past year, thanks to new indications, including an important one in COPD. Dupixent’s sales in the second period (recorded by Sanofi) grew by 22% year over year to $4.34 billion.

Meanwhile, the medicine could earn even more label expansions in the future, seeing as it is still being tested across a range of potential indications. Libtayo could also earn a label expansion of its own in squamous cell carcinoma. Furthermore, Regeneron recently received approval for a new cancer medicine, Lynozyfic.

The company’s pipeline features several additional products that could enhance its lineup. So, despite the competition for Eylea, Regeneron has launched a new formulation of the medicine, which is helping it stay afloat. The company is also launching new products and expanding labels for existing growth drivers. The stock looks like a buy despite the headwinds it has encountered.

There’s at least one good thing to say about Iovance Biotherapeutics (IOVA 5.71%), a small-cap biotech. The drugmaker is an innovative company. It developed Amtagvi, a medicine that became the first of its kind approved for advanced melanoma (skin cancer).

However, this breakthrough hasn’t led to solid performances. Since Amtagvi’s launch last year, Iovance Biotherapeutics’ stock has been southbound. Even so, with an average price target of $9.10, which implies a potential upside of 261% from its current levels, Wall Street continues to have faith in the company. Should investors consider buying Iovance Biotherapeutics’ shares?

Image source: Getty Images.

What’s going on with Iovance Biotherapeutics?

The process involved in manufacturing and administering Amtagvi is complex. It requires physicians to collect a piece of the patients’ tumors from which they extract T cells (which, among other things, help fight cancer) to grow in a lab. From that, patient-specific infusions of Amtagvi are manufactured in a specialized facility. Before receiving Amtagvi, patients have to undergo chemotherapy. The entire process typically takes over a month.

There are also significant expenses associated with the medicine that wouldn’t exist if Amtagvi were an oral pill. All these factors have made it challenging for Iovance Biotherapeutics. Earlier this year, the company revised its guidance after realizing it had been too optimistic with its estimates of activating authorized treatment centers where Amtagvi can be administered to patients.

Still, Amtagvi is generating decent sales. In the second quarter, Iovance Biotherapeutics reported revenue of about $60 million, almost double what it reported in the year-ago period. Most of that was from Amtagvi. The company’s other commercialized product, Proleukin, another cancer medicine, generates relatively little revenue. For fiscal 2025, Iovance expects total product revenue of $250 million to $300 million. Again, most of that will be from Amtagvi. That’s not bad for a medicine that was only approved last year.

Is there more upside for the stock?

Those bullish on the stock might point out several things. First, Amtagvi could earn approval in other regions within the next 12 months, including Canada and Europe. That would significantly expand Iovance Biotherapeutics’ addressable market. Considering the medicine could generate upward of $200 million in the U.S. the year after approval, the global opportunities look attractive.

Second, even in the U.S., Iovance has barely scratched the surface of the patient population it is targeting. Amtagvi is indicated for melanoma patients who have undergone some prior therapies unsuccessfully. In the U.S., 8,000 patients die from the disease every year. Even if not all of them would be eligible for Amtagvi, it is certainly a lot more than the just over 100 Iovance has treated so far.

Third, Amtagvi could earn important label expansions down the line. The medicine is being investigated across a range of other indications, including lung, endometrial, and cervical cancer. If it can score phase 3 clinical wins, that could expand the therapy’s target market and jolt Iovance Biotherapeutics’ stock price.

However, even with all that, the biotech remains a risky bet. The complex and expensive nature of the medicine it develops and manufactures will make it challenging to gain significant traction while allowing it to turn a profit. Expanding into new territories will help Amtagvi’s sales, but it will also significantly increase its expenses.

Further, Iovance isn’t exactly cash-rich. The company ended the second quarter with about $307 million in cash, equivalents, and restricted cash, which it believes will enable it to last until the fourth quarter of next year. That’s not very long. Amtagvi-related sales and various financing options it could pursue should allow it to keep the lights on even longer, but it’s rarely a good sign when a company says that its cash will run out within a year and a half.

Finally, Iovance Biotherapeutics could encounter clinical and regulatory obstacles with Amtagvi, which could negatively impact its stock price. The biotech stock looks too risky for most investors. I don’t expect Iovance Biotherapeutics to hit its average Wall Street price target in the next 12 months.

But investors with a large appetite for risk might still want to consider initiating a small position in the stock. Given its innovative potential and the possibility that it will execute its plan flawlessly, its shares could skyrocket.