The Best Stocks To Buy in 2024

Opportunities to profit from innovative growth are opening up as a result of companies’ increased innovation. Savvy investors and NASDAQ brokers who identify the top companies leading these advances are poised to realise substantial gains this year.

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This article discusses our top stock picks for 2024 based on leadership, vision, and the growth opportunities that lie ahead in transformational spaces.  These companies exhibit immense potential to expand market share dramatically in the next year.

If you are an investor who wants to make money off of the exciting technological shift that is happening right now in the economy, check out these stocks that are ready to deliver value.

Apple (AAPL) needs no introduction as the world’s most valuable public company, excelling across hardware, software, services and more. The iPhone and integrated ecosystem of products like the Apple Watch and AirPods continue to attract loyal customers, as evidenced by 29% sales and 35% profit growth last quarter alone. With new services like Apple TV+ gaining traction and double-digit earnings growth projected in 2024, Apple should continue to flourish. Its ubiquitous devices and platforms give it an enduring edge.

E-commerce and cloud juggernaut Amazon (AMZN) is similarly revolutionising multiple industries—online retail, groceries, cloud computing and more. The scope of the company is astonishing, with 45% annual revenue growth last quarter spanning e-commerce, AWS, advertising, subscriptions and beyond. 2024 should bring further expansion, especially as Amazon applies its logistics and technology expertise across new sectors like healthcare. No company is better positioned to capitalise on digital transformation.

While Apple and Amazon disrupt the tech sector, electric vehicle maker Tesla (TSLA) is transforming automobile manufacturing itself. Behind the vision of Elon Musk, Tesla sold 1.8 million EVs in 2023 while boosting margins. With factories multiplying globally and battery costs falling, Tesla appears poised to dominate sustainable transport worldwide. Its 2024 outlook calls for approximately 30% more revenue and 35% higher earnings as new models like the Cybertruck enter production. Investors wanting transportation electrification exposure should look no further than Tesla.

Expanding our lens globally, Latin American e-commerce leader MercadoLibre (MELI) warrants attention. Offering online marketplaces, digital payments and more, MercadoLibre serves as the regional equivalent of Amazon meets PayPal. Revenue grew 69% annually last quarter to $2.1 billion, with earnings per share more than doubling. As internet and smartphone penetration increases, analysts forecast MercadoLibre’s breakneck growth will continue in 2024, disrupting traditional retail and banking. Its first-mover status across Latin America provides a formidable edge that should compound for years ahead.

Rounding out our picks is travel industry leader Expedia (EXPE), well positioned to capitalise on tourism’s resurgence. Comprising top brands like Hotels.com, Orbitz and Vrbo, Expedia posted 49% sales growth last quarter as travellers returned en masse. With analysts projecting approximately 20% annual revenue growth and 35% bottom line expansion moving forward, Expedia appears poised to ride a tourism wave higher through 2024 and beyond. Its platform scale across lodging, flights and more is simply hard to replicate.

From revolutionary tech firms like Apple and Amazon to transport electrifier Tesla, Latin American e-commerce giant MercadoLibre and global travel leader Expedia, this quartet of innovators should spearhead growth across tech, transportation, emerging markets and travel in the years ahead. For investors wanting resilient, forward-looking growth exposure, look no further than these potential market-beating stocks for 2024.

Recent years have demonstrated to sceptical observers that it is unwise to underestimate human inventiveness and progress. While certain companies faced difficulties due to the lack of clarity, those that actively contributed to society’s progress continued to thrive.

When evaluating such companies, key considerations include:

• Large and receptive target markets: If a company has a lot of potential customers who are actually open to buying their product or service, that’s a pretty promising indication that the business could grow and be sustainable long-term. More open-minded markets mean more chances to actually get people on board.
• Prioritising stakeholder well-being: You want to see that a company truly cares about everyone affected by it—not just investors, but employees, suppliers, and communities too. If they foster strong relationships through a focus on total well-being, that generates a whole lot of trust and loyalty, which is vital for success years down the road.
• Clear purpose and long-term vision: Having a clear and meaningful reason for being beyond just chasing profits—that level of purpose and a plan for the future offers some essential direction and resilience when times inevitably get tough down the line.
• Proven track record of performance: If a company has delivered in the past and generated strong previous returns, that helps tell you they’ve got the leadership and strategies in place to navigate complex situations. Their history gives you hints about their capacity for future success.

Investors who are willing to support visionary leaders and companies with conscientious visions of the future can find significant development prospects. These stocks were created with the intention of not only dominating sectors but also improving how we work, consume, and live positively.

Instead of trying to predict market timing, consider the underlying reason that attracted you to investing in stocks first – taking advantage of advancements in human society. If you find that philosophy appealing, then the stocks mentioned above deserve careful consideration as you make investments in the promising future of 2024 and beyond.

Disclaimer: Before you take any of our stock picks as concrete recommendations, please make sure you consult a qualified financial professional to determine if any investments match your personal financial situation and risk tolerance. What works for an investor may not be right for you. So do some homework before taking action, weigh your actions carefully, and decide what’s best for your needs. But we do hope we have given you a few interesting stocks to put on your radar! Just run everything by your advisor first, and trade carefully.