Three Powerhouse Tech and Travel Stocks Soaring 302% to 775% Over Two Years—What's Next?

The post-pandemic market boom has been fueled by two unstoppable forces: the artificial intelligence revolution and surging travel demand. A handful of companies have ridden these waves to extraordinary returns, with Wall Street now projecting continued upside across the board.

The Market’s Three Biggest Winners

Over the past two years, three standout performers have dominated the S&P 500 landscape:

• Nvidia (NASDAQ: NVDA) skyrocketed 775%
• Super Micro Computer (NASDAQ: SMCI) climbed 591%
• Royal Caribbean Cruises (NYSE: RCL) surged 302%

The forward outlook appears equally compelling. Analysts see meaningful upside potential: Nvidia could gain 26% toward its $150 median target (currently $119 per share), Super Micro faces 54% upside toward $675 (at $437), and Royal Caribbean could climb 12% toward $184 (at $164). While price targets shouldn’t drive investment decisions alone, the analyst consensus suggests these three titans deserve serious portfolio consideration.

Nvidia: The AI Infrastructure Backbone (775% Two-Year Return)

Nvidia’s GPUs have become indispensable in the data center world, powering everything from machine learning model training to cutting-edge AI applications. The company commands approximately 95% of the AI chip market, a dominance rooted in decades of ecosystem development around its proprietary CUDA platform.

What truly separates Nvidia is its vertical expansion strategy. Beyond GPU manufacturing, the company has ventured into cloud services, data center networking, and server CPUs—effectively creating multiple revenue streams within the AI infrastructure boom.

The numbers tell the story: revenue has exploded 240% over two years, while GAAP earnings soared an astonishing 599%. Industry forecasts suggest the graphics processor market will expand at 27% annually through 2030, driven by insatiable AI accelerator demand.

Despite recent volatility following quarterly reports, Wall Street remains decidedly bullish. Consensus earnings growth estimates of 36% annually over the next three years support a current valuation of 56 times earnings—a multiple that appears justified given the company’s market position.

Super Micro Computer: AI Server Market Leader (591% Two-Year Return)

Super Micro Computer has positioned itself as the preeminent supplier of AI-optimized server infrastructure. The company designs everything from individual server units to complete data center racks, with particular strength in modular, plug-and-play configurations that allow rapid product iteration.

CEO Charles Liang credits Super Micro’s competitive edge to internal engineering prowess and architectural flexibility. The result: the company consistently reaches market with new products two to six months ahead of rivals—a significant advantage in fast-moving infrastructure markets.

Market share projections underscore the opportunity: Super Micro’s AI server market share is forecast to reach 17% by 2026, up from 10% in 2023. Supporting this expansion is explosive sector growth, with analysts projecting AI server sales will increase sixfold between 2023 and 2028.

Recent financial performance validates this trajectory: revenue jumped 188% over two years while GAAP earnings surged 277%. The company also leads in direct liquid cooling solutions, a critical advantage as data centers grapple with heat management from increasingly powerful servers.

Wall Street consensus points to 49% annual earnings growth over the next three years, suggesting the current 22 times earnings valuation offers compelling value.

Royal Caribbean: Cruise Industry Consolidation Play (302% Two-Year Return)

Royal Caribbean commands a commanding position as the world’s second-largest cruise operator, controlling a 68-ship fleet across five distinct brands serving roughly 1,000 destinations worldwide. This scale creates substantial competitive advantages in a capital-intensive industry.

The company’s strategic “Trifecta Program,” launched in November 2022, outlined three-year targets designed to surpass pre-pandemic performance levels: adjusted EBITDA per available passenger cruise days exceeding $100, adjusted earnings per share of at least $10, and return on invested capital topping 13%. Remarkably, Royal Caribbean has already achieved all three targets, running 18 months ahead of schedule.

This acceleration reflects improving operational efficiency, better revenue optimization, and sharper capital allocation. The company has also reinstated its dividend, now paying $0.40 quarterly per share (roughly 1% yield)—a concrete signal of restored financial health.

Analysts project 19% annual adjusted earnings per share growth through 2026. At 16.3 times adjusted earnings, the valuation appears reasonable relative to historical norms. However, it’s worth noting that pre-pandemic valuations hovered around 14 times adjusted earnings, suggesting patient investors might wait for a more attractive entry point.

The Investment Takeaway

These three stocks represent different paths to strong returns—semiconductor infrastructure, server hardware, and travel services—but share common traits: dominant market positions, secular growth tailwinds, and analyst support for continued appreciation. While no investment is without risk, the confluence of AI demand and post-pandemic normalization continues to power these market leaders forward.