Our Best Stock Picks of 2024

Photo de Jakub Żerdzicki sur Unsplash

 

The stock market allows investors to buy shares in listed companies. This type of investment requires knowledge. Not only knowledge of trading tools but also about what companies do and how they generate their profits. Any news can influence the price of a stock, from a branding mistake to a new product's sales and marketing or a justice decision. That's why the stock market is recommended for intermediate to expert traders with the ability to diversify their portfolios.

 

This article aims to present investors with some of the most promising stocks of 2024 and why investing now is worth it. However, it's important to research a company before investing to ensure it has the expected potential and to stay up to date with the latest developments about these companies.

1. Nvidia Corp (NVDA)

Nvidia dominates the AI chip market, and 2023 has been an unexpectedly incredible year for the tech company's stock. Their graphics cards have already dominated the market for many years. The rise of cryptocurrencies also helped quite a lot. Their products are particularly popular for mining tokens, and prices have skyrocketed.

 

Their products have also dominated in fields unrelated to gaming. Nvidia hardware is the preferred choice for powering AIs. Therefore, it has started to be used massively in AI-driven data centres.

 

However, it was when they announced several AI-related projects that Nvidia's stock surpassed a trillion dollars on the market. The growing impact of AI technology on countless industries is set to boost Nvidia further. Their pioneer status and their R&D investment puts Nvidia at the forefront of AI innovation.

 

According to experts, Nvidia should experience 98% growth by 2025 and 23% in 2026, making it a worthy investment. It's essential to note that Nvidia stock has dropped by 20% in January 2023. However, since March, the stock has been rising exponentially, and on a yearly basis, it's positive.

2. Meta Platforms Inc. (META)

Even though Meta had a rough couple of years, it's now back as a worthy stock to invest in. The Mark Zuckerberg-owned company is now reporting a 27% revenue growth in Q1 2024. The company now has the power to maintain earnings in the double-digits per share growth, thanks to its integration of AI technology.

 

Their collaborations with Ray-Ban, intensive AI R&D, and the work to reshape Instagram are bearing their fruits. The failure of Metaverse was only a temporary hiccup, and it'll probably come back in another form in a few years. When looking at the stock chart, Meta has been growing this year, apart from a small drop at the end of April 2023.

3. JPMorgan Chase & Co. (JPM)

JPMorgan Chase is a name that should ring a bell, as it's one of the biggest banks in the world. They have almost $4 trillion in assets and made interesting moves in 2023, including the acquisition of First Republic Bank following its seizure by the Federal Deposit Insurance Corporation. JPMorgan has been steadily growing recently by taking competitors' shares in the most significant business segments.

 

Analysts project a 19% growth in 2024 (it’s already been exceeded), which confirms this is still one of the best stocks to invest in currently. The stock is currently rising fast, and it doesn't show signs of slowing down at the moment.

 

4. DraftKings (DKNG)

While we are looking at DraftKings in particular, this is rather an umbrella of assets to consider. Whether it’s online or land-based operations, like hotels and resorts in locations such as Las Vegas, London, Monaco, and Macau, the global gambling market is seeing massive growth year on year.

 

Stocks from the most prominent American groups, Draft Kings, are very interesting, thanks to the opening of the online market in several states. This industry is already worth over $300 billion, and experts' projections show an expected growth of 6.48% yearly until it reaches $511.6 billion in 2032.

 

However, it’s not just the states that have growing markets. Online gambling has been legal in the UK for a long time now, however, the list of online casinos in the region continues to grow, with the country's online gambling market projected to reach US$16.46bn by 2029.

 

These groups don't solely rely on their casino services; their stability also comes from the resorts and other products they may offer customers. These extra services have always been popular with the public; even people who don't engage in gambling can use them.

 

5. Chevron Corp. (CVX)

Chevron isn't as well-known as other energy companies like Exxon, but it's a major player. It specialises in producing, refining, and marketing for petrochemical companies. Even though their numbers aren't impressive in a single year, taking a step back and looking at the three previous years shows a 112% growth. So, it's a long-term investment with steady prospects.

 

Moreover, the company is currently trying to acquire Hess Corp. If the deal is successful, they would have incredibly valuable new assets, pumping the stock rapidly. Right now, the stock is relatively stable, and with the current energy situation and electric model not being as promising as they should be, it could get a boost very soon.

 

Photo de Austin Distel sur Unsplash

 

Stocks With Steady Growth Potential

These stocks are attractive for experienced investors, but newbies using option trading can also get started with it. Each one represents an industry that has seen steady growth over the years, with peaks here and there. Moreover, they're not volatile assets, and significant price drops are very unlikely.

 

Therefore, these are long-term investments to keep for at least a couple of years to ensure maximum ROI (return on investment). Of course, nothing is guaranteed, and several events can influence stock prices. Yet, these companies have been known for their stability and continuous growth over the years.