If you have $5,000 waiting to invest, now might be a smart time to do it.

Some high-growth investment opportunities could be solid upside in the short term, but they could also be viable long-term choices if the current trends hold over the next five years.

Three high-growth stocks that are on my radar right now are SanDisk (NASDAQ:SNDK), Micron (NASDAQ:MU), and CoreWeave (NASDAQ:CRWV). These companies are all experiencing rapid growth, particularly in the realm of artificial intelligence (AI).

Remember Nvidia back in 2009? Something similar is happening again. In 2009, a “double down” signal appeared for a lesser-known chipmaker called Nvidia. Now, a company that is significantly smaller than Nvidia is signaling the same kind of “full conviction”.

1. Micron

Micron produces both DRAM and NAND memory chips, both of which are currently in short supply. The surge in demand for memory chips stems from the booming AI production, raising prices significantly.

While Micron is benefiting from this demand, it’s also working on expanding its manufacturing capacity. However, these new facilities won’t be ready for operation until late next year, which means the shortage of memory chips might persist for several years. This situation possibly offers investors a chance to earn considerable returns, given Micron’s rapid growth driven by soaring commodity prices.

In fact, analysts anticipate a sales increase of 264% for the upcoming quarter, with a projected 250% growth for the fourth quarter of fiscal 2026 (ending August). Despite these impressive numbers, Micron is still trading at a discount compared to many peers, which often trade at 20 to 30 times forward earnings.

So, while Micron seems to have a robust growth and value outlook, the ongoing memory chip shortage may continue for a few more years. I think it’s a great pick.

2. SanDisk

SanDisk is in a similar boat to Micron, but focuses solely on NAND memory, mainly used in solid-state drives. Solid-state drives are crucial for long-term data storage in data centers, and, like other chips, they are also in short supply, leading to rising prices.

SanDisk’s revenue growth is somewhat faster than Micron’s, with Wall Street projecting growth of 332% and 337% over the next two quarters. However, SanDisk trades at a higher forward P/E ratio of 28 times, which might be justified considering its growth potential. Both companies should continue to see robust growth until the memory supply situation stabilizes.

Still, AI hyperscalers are increasing their spending on annual data center capital expenditures. So, even with new production capacity being added, it doesn’t seem like the shortage will be resolved anytime soon. This provides both Micron and SanDisk with potential for a strong multi-year strategy, making them solid stock picks in my opinion.

3. CoreWeave

On a different note, CoreWeave is one of the companies contributing to the memory chip shortage. They operate multiple data centers filled with advanced GPUs and lease computing power to clients. There’s been a strong demand for its cloud computing services, and they’ve secured significant clients like Meta Platforms and Microsoft.

CoreWeave is also showing strong growth; analysts forecast growth rates of 112% and 154% in the next couple of quarters. This momentum could persist for several more years, especially since CoreWeave has a significant backlog to tackle.

The company anticipates about $100 billion in revenue over the next five to six years, which is likely to grow every quarter as new capacity and customers come in. If AI adoption continues to escalate, CoreWeave could be a wise investment as it aims to expand its compute footprint before the AI arms race concludes.

Should you buy Micron Technology stock now?

Before making any decisions about buying Micron Technology stock, here are a few things to consider:

Our analyst team has identified some of the best stocks investors could buy right now, and surprisingly, Micron Technology was not on that list. These picks reportedly have a strong potential to deliver impressive returns in the next few years.

Perhaps it’s worth considering alternatives, especially since some of these stocks have performed exceptionally well in the past. For example, listed recommendations yielded astounding returns, but it’s crucial to remember that not every pick is a guaranteed win.

Ultimately, just think about how investment strategies can vary widely—what’s right for one person might not be for another.