Top 10 stocks to buy in 2024

Investing in 2024 presents both opportunities and challenges. While the best stocks for options may attract short-term traders, this analysis focuses on long-term value creation through a selection of 10 companies with strong fundamentals and promising growth prospects.

1. Microsoft

This tech giant etched its name in 2023 headlines with a strategic partnership with OpenAI, thrusting it to the forefront of the burgeoning artificial intelligence (AI) market. This savvy move, coupled with its existing exposure to the AI boom, fueled a remarkable 57% increase in its stock price over the past year. But its appeal doesn't stop there. Microsoft (MSFT) consistently delivers solid financial performance, exceeding both revenue and earnings expectations, solidifying its position as a leader in this transformative field.

2. Meta

This social media platform underwent a remarkable turnaround in 2023, witnessing a meteoric 200% surge in its share price. This resurgence was driven by a potent combination of factors: a rebound in online advertising, impressive user growth, and a strategic shift towards the metaverse, the next frontier of digital interaction. It also earned the title as the best AR stock 2023. The company's recent financial results were equally impressive, showcasing significant jumps in revenue and operating income. Analysts predict continued growth, fueled by its ambitious metaverse project, making Meta Platforms (META) a captivating prospect for investors seeking to capitalize on this emerging trend.

3. Apple

This iconic brand remains a force to be reckoned with, consistently delivering innovation and captivating a loyal customer base. Over the past year, Apple (AAPL)'s stock price climbed an impressive 46%, a testament to its enduring appeal. A prominent investor's significant stake increase further underscores the confidence placed in this company's future. Strong financial results and a promising earnings outlook fueled by a relentless focus on innovation solidify its position as a leader in its field.

4. NVIDIA

This semiconductor company continues to be a market darling, riding the wave of artificial intelligence with its powerful chips that power AI products across diverse industries. Its dominance in this space is evident in the staggering 200% increase in its revenue of NVIDIA (NVDA), and high demand is expected to continue, fueled by the ever-growing need for AI-powered solutions. An optimistic outlook with exceeding analyst expectations further cements its position as a key player in this rapidly evolving landscape.

5. Amazon

A prominent investor's hefty stake increase speaks volumes about the potential of this e-commerce giant. The company boasts an impressive 80% stock price increase in the past year, fueled not just by its core retail business but also by its strategic diversification into other promising areas like cloud computing. Exceeding earnings and revenue expectations coupled with strong guidance for the future cements its appeal for investors seeking exposure to a company that is constantly innovating and expanding its reach. This titan is none other than Amazon (AMZN).

6. Tesla

Tesla (TSLA) remains a dominant force in the electric vehicle (EV) industry, making it a strong contender for your portfolio in 2024. Despite a slight miss in its third-quarter delivery target, the company maintains confidence in achieving its goals, fueled by ongoing factory expansion and upgrades. Its impressive 2023 performance, with a share price increase exceeding 100%, is a testament to its growth potential.

7. Uber

Uber Technologies (UBER) has garnered recognition from prominent investors, solidifying its position as a top stock pick for 2024. Its inclusion in the prestigious S&P 500 index and a near 150% share price surge in 2023 highlight its upward trajectory. Boasting impressive financials like $35.28 billion in gross bookings and a 25% year-over-year increase in trips, Uber is poised to capitalize on the growing ride-hailing market.

8. UnitedHealth Group

While 2023 posed challenges for many healthcare companies, UnitedHealth Group Incorporated (UNH) emerged as a leader. Exceeding analyst expectations for revenue and earnings, the company raised its full-year earnings forecast, showcasing its resilience. Wall Street anticipates even further growth, predicting nearly $28 per share earnings in 2024. Additionally, their strong fundamentals have attracted significant investor interest.

9. Alphabet

Alphabet Inc. (GOOG), parent company of Google and a leader in AI and search technologies, presents a compelling investment opportunity. With a 61% share price increase in the past year, the company capitalizes on the booming online advertising market and its foray into AI has opened doors to exciting new possibilities.

10. Visa

Visa Inc. (V), a leader in payment technologies, presents a compelling investment opportunity in 2024. Backed by a strong financial outlook and impressive share price returns (26% YTD), Visa continues to experience robust revenue and earnings growth. Its commitment to shareholder value through a 16% dividend increase and a $25 billion share buyback program further enhances its appeal. With an anticipated low-teens adjusted EPS growth next year, Visa is poised for continued success.

While predicting the future of any individual stock is impossible, the 10 companies presented here showcase promising potential for investors seeking long-term value creation in 2024. These companies demonstrate strong fundamentals, strategic vision, and exposure to key growth trends within the dynamic tech sector.