My top 3 growth stocks to build wealth in 2023 and beyond

After a month of torment, gloom, and pessimism, the FTSE 100 from 2023 with a 5% gain in one month, breaking its own high. If the market has indeed turned a corner, then now might be a good time to pick up a growth stock before it gets too expensive. Here are three that I hope will produce the best in the coming years.

Game Workshop

Manufacturer of miniature war games Game Workshop (LSE: GAW) has seen its best year-on-year revenue growth in a decade. Total revenue from 2022 of £386m compared to total revenue from 2016 of £118m. And the company has an economic moat like few others Warhammer intellectual property.

I have kept tabs on the company since it announced its partnership with Amazon Prime Video to create series for streaming platform. A potential catalyst for further growth, perhaps?

Weight of A-list actor Henry Cavill behind the new series. And I would definitely love to hold a stake in it if it explodes into the mainstream like other fantasy worlds such as Lord of the Rings or Game of Thrones. On the other hand, if the show does not take off, then future growth may not be satisfactory.

Microsoft

Microsoft Corporation (NASDAQ: MSFT ) offers a wide range of products in hardware, software, cloud computing, and video games that make me the strongest of the big tech stocks. And total revenue increased by 17.9% in 2021 and 17.5% in 2020 which is in line with the expensive FAANG growth stocks.

The stock price is still down 23.2% from its all-time high. So this could be a good entry point for a stock that I can look at for a long time.

What does the future hold for Microsoft? Well, I’ll keep my eyes peeled for how it integrates with Chat-GPT’s latest $10bn investment. The potential for this AI software to provide quick and helpful answers may help the Bing search engine pick up on Google’s dominant market share.

I am concerned that we may have seen the best growth with this stock.

Croda

Specialty chemical business Croda International Plc (LSE: CRDA) has enjoyed market-beating returns for years, but is now down 11% from its peak. I think this could be a potentially attractive entry point for this growth stock.

The first half of 2022 went well with a 20.7% increase in revenue to £1.13bn and a 32.1% increase in operating profit to £288.6m. And this profit was driven by growth in all four business areas, namely Consumer Care, Life Sciences, Performance Technology, and Industrial Chemicals. This is a strong sign of good management and positive future prospects.

Growth is expected to slow in the second half of the year, mainly as a result of “Reduce demand for COVID vaccine”. So it remains to be seen how much this will affect the share price in the short term and if this impressive performance can continue.