🚨The 5 Stocks Print Millionaires (but most will be investing wrong)

Tom Nash•Jul 10, 2026

Summary

Tom provides a comprehensive framework for investing in what Tom considers a once-in-a-lifetime wealth-building opportunity. Tom emphasizes that while 90% of retail investors lose money, success comes from a long-term focus and understanding that volatility is a tool for capital deployment rather than a risk. Tom points out that staying in cash is costly due to inflation, whereas the S&P 500 has historically provided 10x returns over 17-year periods despite various global crises.

Tom explains that the AI revolution consists of two waves. While Wave 1 focused on hardware like semiconductors, Wave 2 is about the infrastructure and software that enable AI to scale. Tom warns against investing in Large Language Models (LLMs), which Tom views as commoditized products with compressed margins. Instead, Tom identifies eight critical layers including software, energy, cloud services, and networking as the real profit centers. Tom believes the capex cycle is far from over because AI advancement has not stagnated.

Nvidia (NVDA): Tom believes Nvidia remains a top pick because it provides both the hardware engines and the CUDA software layer required for AI. Tom notes that Nvidia has a massive moat due to high switching costs and maintains an impressive 63% operating margin. Tom highlights that with 65% revenue growth and a forward PE of 23, the stock remains fundamentally strong for the long term.

ASML: Tom describes ASML as a literal monopoly because there is no alternative (TINA) for the machinery they build to create semiconductors. Tom argues that it is impossible to compete with ASML due to the decades required to build comparable facilities and networks. Tom notes the company's $11 billion annual operating income and a forward PE of 35 as indicators of its market dominance.

Arista Networks (ANET): Tom identifies Arista as the networking standard and the 'backbone' of cloud computing. Tom argues that while the business is 'boring,' its fundamentals are exceptional with 30% revenue growth and 43% operating margins. Tom points out that Arista's forward PE of 41 reflects its status as one of the best infrastructure businesses in the AI space.

Vertiv (VRT): Tom asserts that cooling technology is seeing insane demand as data centers expand. Tom highlights that Vertiv has 10xed its operating income over the last three years, growing from $200 million to $2 billion. Tom believes the stock is still worth owning at a 37 forward PE because the demand for thermal management will only intensify.

Palantir (PLTR): Tom is most excited about Palantir, describing it as the 'Nvidia of software' and the operating system for the AI world. Tom notes that the company has a 'Rule of 40' score of 140, which Tom suggests might be the highest in the entire stock market. Tom explicitly states that Palantir is 'insanely undervalued' at $130 and represents a key pillar of AI infrastructure.