(US) Top Stocks for 2024 to Watch
Let's kick off 2024 with some fantastic investments! These 7 stocks performed way better than the S&P 500 in 2023 and they're still going strong!
With their diverse potential 📈, they're the perfect foundation for a thriving portfolio in the upcoming year.
According to Motley Fool, these stocks are poised to benefit in 2024 as generative AI is a widespread theme for next year! Click HERE for more info!
1. Alphabet (GOOG/GOOGL): AI-fueled ad engine themed. Expect continued ad growth, especially with YouTube booming. Stock trading at 20x earnings, perfect entry point for beginners.
2. Amazon.com (AMZN): E-commerce king and cloud overlord. Margins hitting record highs, revenue surging 13%. 2024 could be banner year if momentum holds.
3. Airbnb (ABNB): Short-term rental leader, weathering restrictions with ease. Q3 revenue up 18% with 40% free cash flow conversion. Cash machine regardless of economic condition, stock repurchase potential makes it a 2024 gem.
4. CrowdStrike (CRWD): Cybersecurity guardian angel. Essential for a secure digital world, where many customers rely on multiple products. USD100 billion market, CRWD’s USD3.15 billion ARR with 35% YoY growth leaves plenty of room for traders to consider.
5. Taiwan Semiconductor (TSMC): Chipmaking maestro riding the demand wave. Semiconductor cycle turning up, making TSMC a 2024 star. Affordable and at 16x earnings makes it a no-brainer buy.
6. PayPal (PYPL): Digital wallet underdog with a strong bite. Consistent business performance, stock price is low compared to market (S&P 500 at 25x trailing!). Value pick for savvy investors.
7. Adobe (ADBE): Creative software giant embracing AI future. Digital media titan expanding, trading at attractive 30x earnings (vs. historical 50x!). Cheers to Adobe's innovative 2024 potential.
Consider adding at least one of these shares to your portfolio for an unforgettable start to 2024 🥂
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