3 Stocks That Have Turned $6,000 Into More Than $1 Million in 20 Years

Investing in promising, up-and-coming growth stocks can lead to significant returns for buy-and-hold investors. You don't need to invest a fortune into a growth stock to make a lot of money -- if you pick the right one -- but it can require a lot of patience.

Apple (NASDAQ: AAPL) , Netflix (NASDAQ: NFLX) , and Booking Holdings (NASDAQ: BKNG) have each turned four-figure investments into more than $1 million during the course of a couple of decades. Here's a look at how they've done so well, and what a $6,000 investment in these stocks 20 years ago would be worth right now for an investor who had held on.

Apple: $2.5 million

Steve Jobs unveiled the first iPhone back in 2007 and it has been a monumental game changer for Apple's business ever since. Not only have Apple's loyal customers come back over and over again for new iterations of the device over the years, but it has been the primary hardware foundation upon which a huge and growing ecosystem of services has been built. While iPhone and iPad sales are still the company's bread and butter, it makes an increasing share of revenue from services, and that could continue to be a growth catalyst for years to come.

During the past two decades, Apple has been a phenomenal growth stock to own, turning a $6,000 investment 20 years ago into $2.5 million today.

AAPL Revenue (Annual) data by YCharts.

Despite its growth into one of the world's most valuable company, Apple's stock still isn't egregiously expensive. It trades at 34 times its trailing earnings, and with AI-capable phones coming soon, there's still reason to remain excited about the company's growth prospects.

Netflix: $1.8 million

Netflix has reconfigured itself several times during the past couple of decades. In the early 2000s, its video rental business was based on mailing physical DVDs to customers. Then it transitioned into streaming and being a curator of content from a wide variety of studios. But as more of those companies have launched their own streaming services, Netflix has pivoted once again to making its own content. Although it still has movies and shows from other entertainment companies, it's not as dependent on them anymore.

And while many other content producers are struggling to make their own streaming services profitable, Netflix has accomplished that. Although consumers may not be thrilled with its subscription price hikes, they have paid off; Netflix's profits have soared at even faster levels than Apple's.

NFLX Revenue (Annual) data by YCharts.

A $6,000 investment in Netflix 20 years ago would now be worth a staggering $1.8 million. The stock is a bit expensive, trading at more than 42 times trailing earnings. But for a top streaming company, that may be a justifiable premium to pay, especially as it expands deeper into ad-supported plans, which will likely open up even more growth opportunities for Netflix.

Booking Holdings: $1.1 million

Booking Holdings has become one of the largest travel technology companies in the world. Its portfolio includes many popular travel booking sites, including Priceline.com, Kayak.com, Cheapflights.com, and others to complement its flagship site, Booking.com.

Demand for travel continues to rise along with population growth, making travel stocks fairly attractive investments to buy and hold, and Booking Holdings is no exception. Although the pandemic put a serious dent in the company's profit, Booking Holdings has bounced back, and its growth prospects remain promising.

BKNG Revenue (Annual) data by YCharts.

An investment of $6,000 into Booking Holdings two decades ago would now be worth about $1.1 million. Trading at 27 times earnings and a price/earnings-to-growth (PEG) multiple of just 1.1, this is the best-valued growth stock on this list.

David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Booking Holdings, and Netflix. The Motley Fool has a disclosure policy .