Investing in S&P 500 growth stocks can be a great way to beat the market and boost investment returns. Just ask anyone who put money into Nvidia five years ago (it has turned $2k into nearly $60k over that period!).

Here, I’m going to highlight three S&P 500 stocks I believe will outperform global index funds and ETFs over the next five years. For any investor looking to turbocharge investment returns, these stocks could be worth considering.

A digital advertising powerhouse

First up is Amazon (NASDAQ: AMZN), the major player in online shopping, cloud computing, and digital advertising.

Over the last 20 years, this stock’s trounced the market. And looking ahead, I see potential for further outperformance.

One reason I’m bullish is that the company’s now one of the world’s biggest players in the digital advertising space (I now get personalised ads when I watch Amazon Prime shows). Digital advertising is a lucrative industry and in the years ahead I expect ad revenues to significantly boost the company’s bottom line.

Now, a risk in the near term is online shopping weakness. Currently, Amazon is rolling out its own ‘essentials’ products and this could hit its profit margins.

Taking a five-year view however, I’m confident this stock (which is one of my largest holdings) will beat the market. Currently, its valuation is near historical lows.

A major player in AI

The semiconductor industry is expected to grow at a fast pace in the years ahead as the world becomes more digitalised (chips are the brains of all electrical devices). Between now and 2030, experts expect growth of around 8-10% a year.

One stock I believe could do well amid this growth is AMD (NASDAQ:AMD). It’s one of the largest players in the industry and it’s very active in the all-important artificial intelligence (AI) chip space.

Right now, Nvidia’s the clear leader in that race. But I reckon AMD can capture market share in the years ahead. Last month, AMD CEO Lisa Su said following the success of its MI300x AI chip, the company expects to generate $4.5bn in AI-related sales next year (versus $100m last year). “It’s the fastest-growing product in AMD’s history,” Su noted.

Of course, AMD’s likely to face plenty of competition here. Right now, lots of companies are scrambling to develop AI chips. I see this company as really well positioned in the AI race however.

The cybersecurity leader

Finally, I want to highlight CrowdStrike (NASDAQ: CRWD). It’s one of the world’s fastest-growing cybersecurity businesses.

This company’s been in the headlines recently. That’s because it was responsible for causing a major global IT outage a few months ago.

In the short term, reputational damage associated with this outage could potentially lead to a slowdown in revenue growth. So guidance could be below expectations. This could potentially send the share price down. Currently, the valuation doesn’t leave much room for error.

Taking a five-year view though, I reckon this stock will outperform the market. In the years ahead, the cybersecurity market’s likely to experience massive growth as organisations move to protect themselves from sophisticated online threats. And this company’s the industry leader. I plan to buy some shares for my portfolio soon.