I believe the buying and holding high-quality ASX stocks is one of the best ways to build significant wealth.
But which stocks could be destined for big things over the next decade?
Let's take a look at three that appear well-placed to beat the market between now and 2035 and are being recommended as buys by analysts. They are as follows:
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NextDC Ltd (ASX: NXT)
Artificial intelligence, streaming, cloud software, and digital commerce all rely on one physical ingredient: data centres.
NextDC has been building Australia's most advanced network of hyperscale and enterprise-grade data centres for more than a decade, and demand is only accelerating.
Artificial intelligence workloads, cloud migration, and rapid corporate digitisation are driving a structural need for more compute power. And once a customer moves into a data centre, switching is costly and disruptive, which gives NextDC unusually strong pricing power and long-term revenue visibility.
With new facilities rolling out and utilisation levels climbing each year, NextDC could be one of the ASX's most dependable compounders well into the next decade.
This week, in response to its agreement with ChatGPT owner OpenAI, Morgan Stanley put an overweight rating and $21.00 price target on its shares.
Life360 Inc (ASX: 360)
Life360 has quietly become one of the most successful tech stories on the ASX over the past few years.
The family location app provider is now evolving into a broader safety platform with layers of subscription revenue, new product features, and global reach.
Recent updates revealed very strong operational momentum, including accelerating subscriber growth, record paying circle additions, rising ARPU, and strong cash generation. With around 90 million monthly active users, Life360 has a significant user base to monetise through its advertising business, cross-sells, and premium offering.
Over the next decade, its opportunities extend far beyond tracking. There are potential opportunities in home security integrations, automotive partnerships, AI-driven safety tools, and new international markets.
It is no wonder then that Morgan Stanley recently put an overweight rating and $58.50 price target on its shares.
Pro Medicus Ltd (ASX: PME)
Few ASX companies enjoy the kind of competitive advantage Pro Medicus has built. Its Visage imaging platform has become the gold standard for radiologists, offering faster rendering speeds, greater efficiency, and cloud-based workflows that competitors struggle to match.
And with radiologists in short supply, anything that improves the performance of these departments is in high demand. As a result, it is no surprise that major US health networks have been signing multi-year, multi-million-dollar contracts with Pro Medicus in recent years.
Analysts at Citi are bullish on Pro Medicus. They have a buy rating and $350.00 price target on its shares.
