The stock market is one of the best ways to build lasting wealth. That’s because over time, the broad S&P 500 has averaged about a 10% yearly return.
But if we look back at history, we’ll find some businesses that have crushed the market, turning small investments into seven-figure sums.
Here’s a closer look at Apple (AAPL 0.41%), Costco (COST -0.10%), and Home Depot (HD -0.16%), three magnificent consumer stocks that turned $1,000 into more than $1 million.
1. Apple
First on this list is the world’s most valuable brand. Apple has been a leader when it comes to selling some of the most popular electronics products out there. And this has propelled the FAANG stock 191,000% in the last roughly 43 years, turning $1,000 into $1.9 million today, including dividends.
While the iPhone still brings in more than half of the revenue, the business is finding success with other devices, like…