A million bucks. It's something many investors want, but it's not so easy to get your hands on it. Yet, with the right stocks and a long-term buy-and-hold strategy, a $1 million portfolio is within reach for many investors. Let's examine two stocks that could help investors reach this elusive goal.

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Spotify

Spotify Technology (SPOT 2.04%) has been a safe haven in a tough year for the stock market. While the major indexes are down anywhere from 10% to 18% year to date, Spotify's stock remains green so far in 2025. Shares of the audio streaming giant are up about 25% as of this writing.

And while its outperformance relative to the major indexes is an important part of its appeal, investors shouldn't overlook the company's excellent fundamentals. As of its most recent quarter (for the three months ended on Dec. 31, 2024), Spotify continued to turn in fantastic growth metrics, including:

• 16% year-over-year revenue growth.
• 12% year-over-year growth in overall monthly active users (MAUs).
• 121% year-over-year growth in free cash flow.

Much like Netflix did years ago, Spotify is now making the transition from a promising upstart into a lucrative juggernaut. The company has boosted its profit margin by cutting costs and raising prices.

Part of the reason the stock has responded so well this year is that Wall Street understands that Spotify -- like Netflix -- has a dedicated subscriber base that will stick around even with occasional price hikes. So, for investors looking for a potential millionaire-making stock, Spotify is a name to consider.

Palantir Technologies

If I told you that Palantir Technologies (PLTR 6.89%) was one of the top-performing stocks in the S&P 500 this year, it might come as a surprise. After all, technology stocks have taken it on the chin so far in 2025. Nevertheless, Palantir -- with its 24% year-to-date gain -- is among the top 10 best-performing stocks in the S&P 500.

And why is that? In a nutshell, Palantir's stock continues to advance thanks to the enormous tidal wave of demand for its AI-powered platform. Its customers run the gamut from travel giants like Delta Air Lines and United Airlines to retail businesses like Lowe's Companies and Walgreens.

And there's a reason these companies want Palantir's technology; it's saving them money and making them more profitable. For example, Luis Mesen, an executive for United, said, "We deployed [Palantir's] Chime late last year...we've already saved almost 300 delays, 20 cancellations...this represents millions of dollars of cost avoidance."

Because of real-world examples like this, Palantir's customer base and revenue are both rising quickly. In the company's most recent quarter (for the three months ended Dec. 31, 2024), it generated $552 million in sales, up 52% from a year ago.

The AI revolution rolls on, with Palantir being one of the top beneficiaries. Investors looking for a stock with millionaire-making potential should take notice.