What stocks will skyrocket in 2024?
The so-called Magnificent 7 stocks -- Apple Inc., Amazon.com Inc., Alphabet Inc. Meta Platforms Inc., Microsoft Corp., Nvidia Corp. and Tesla Inc. -- are driving overall stock-market returns anew in early 2024.
The so-called Magnificent 7 stocks -- Apple Inc., Amazon.com Inc., Alphabet Inc. Meta Platforms Inc., Microsoft Corp., Nvidia Corp. and Tesla Inc. -- are driving overall stock-market returns anew in early 2024.
| Stock | Implied upside over Jan. 17 close |
|---|---|
| Alphabet Inc. (ticker: GOOGL) | 10% |
| Amazon.com Inc. (AMZN) | 18.6% |
| Nvidia Corp. (NVDA) | 7% |
| Meta Platforms Inc. (META) | 5.9% |
Palo Alto Networks Inc (NASDAQ:PANW) is another stock in the list of Wedbush's top AI and tech picks for 2024, according to the firm's report published in December 2023. In addition to Salesforce Inc (NYSE:CRM), Alphabet Inc Class A (NASDAQ:GOOGL) and Microsoft Corp (NASDAQ:MSFT), PANW is a top AI stock pick.
The Motley Fool has positions in and recommends Airbnb, Amazon, MercadoLibre, Nike, PayPal, Shopify, and Visa. The Motley Fool recommends the following options: long January 2025 $47.50 calls on Nike and short March 2024 $67.50 calls on PayPal.
- UnitedHealth Group Incorporated (NYSE:UNH)
- JPMorgan Chase & Co. (NYSE:JPM)
- Advanced Micro Devices, Inc. (NASDAQ:AMD)
- Adobe Inc. (NASDAQ:ADBE)
- Salesforce, Inc. (NYSE:CRM)
- Technology and innovation. ...
- Renewable energy. ...
- E-commerce and digital economy. ...
- Healthcare and pharmaceuticals. ...
- Infrastructure development. ...
- Electric vehicles (EVs) and clean transportation. ...
- Financial services and fintech.
Wayfair Inc. (NYSE:W), Match Group, Inc. (NASDAQ:MTCH), and Palantir Technologies Inc. (NYSE:PLTR) are some of the stocks that will double in 2024, besides StoneCo Ltd.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Guj. Themis Bio. | 360.90 |
| 2. | Refex Industries | 672.00 |
| 3. | Tanla Platforms | 977.00 |
| 4. | M K Exim India | 79.50 |
- Getty Realty Corp. (NYSE:GTY) ...
- Federal Realty Investment Trust (NYSE:FRT) Number of Hedge Fund Investors In Q3 2023: 15. ...
- Enerplus Corporation (NYSE:ERF) Number of Hedge Fund Investors In Q3 2023: 19. ...
- Matador Resources Company (NYSE:MTDR) ...
- Roblox Corporation (NYSE:RBLX)
What are the top 3 AI stocks to buy now?
| Ticker | Company | Performance (Year) |
|---|---|---|
| NVDA | NVIDIA Corp | 260.44% |
| SYM | Symbotic Inc | 159.08% |
| SOUN | SoundHound AI Inc | 113.83% |
| ISRG | Intuitive Surgical Inc | 74.10% |
The Nasdaq-100 Technology Sector index rose 67% throughout 2023, significantly improving from the year before when it plunged 40%. And the market has shown no signs of slowing, making 2024 an excellent time to expand your position in tech.
| Company (Ticker) | Sector | Market Cap |
|---|---|---|
| MicroStrategy (MSTR) | Technology | $18.32B |
| Nvidia (NVDA) | Technology | $2.06T |
| C3.ai (AI) | Technology | $4.30B |
| Meta Platforms (META) | Communication services | $1.28T |
Investors often look for penny stocks as they are not only lower priced but deliver attractive returns as well at times. Four penny stocks offered multibaggers returns in 2024. These are Svaraj Trading & Agencies Ltd, Sarveshwar Foods Ltd, Vintron Informatics, Mid East Portfolio Management Ltd.
| S.No. | Name | P/E |
|---|---|---|
| 1. | Life Insurance | 16.30 |
| 2. | Dr Reddy's Labs | 20.22 |
| 3. | Shree Cement | 39.46 |
| 4. | Hero Motocorp | 24.82 |
Next Big Thing in Investing: Artificial Intelligence
Right now it seems that artificial intelligence (AI) is driving that bus and will be for the foreseeable future. AI has the potential to change how we do everything — from the way we shop to how businesses are run.
| Name of the Share | Book Value (₹) | 1 Year (%) |
|---|---|---|
| Trident Ltd | 8.12 | 1.93 |
| Yes Bank | 14.08 | -2.23 |
| Exide Industries | 148.69 | 54.70 |
| Bajaj Hindusthan Sugar Ltd | 33.80 | 79.49 |
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Brightcom Group | 17.42 |
| 2. | Rama Steel Tubes | 38.92 |
| 3. | Easy Trip Plann. | 47.49 |
| 4. | Radhika Jeweltec | 64.38 |
- Nvidia.
- Microsoft (NASDAQ:MSFT)
- Apple (NASDAQ:AAPL)
- Amazon (NASDAQ:AMZN)
- Tesla (NASDAQ:TSLA)
- Meta Platforms (NASDAQ:META)
- Alphabet (NASDAQ:GOOGL)
- Advanced Micro Devices (NASDAQ:AMD)
- Fruit & Nut Farming in the US. ...
- Solar Power in the US. ...
- Online Gambling Services in the US. ...
- Hybrid & Electric Vehicle Manufacturing in the US. ...
- 3D Printing & Rapid Prototyping Services in the US. ...
- Social Networking Sites in the US. ...
- Ship Building in the US. ...
- Wind Power in the US.
What is the next big industry boom?
The global artificial intelligence industry is expected to grow to $2.03 trillion by 2030 at a compound annual growth rate of 21.6%. The North American market dominates the industry, with a reported market size of $175.96 billion in 2022.
- Sustainable Energy Solutions. ...
- E-commerce and Online Marketplaces. ...
- Health and Wellness Tech. ...
- Artificial Intelligence (AI) and Machine Learning. ...
- Content Management Agency.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | KMC Speciality | 89.27 |
| 2. | Advani Hotels. | 161.15 |
| 3. | Man Infra | 203.15 |
| 4. | Ovobel Foods | 223.55 |
Nvidia (NVDA)
While it may seem strange to assert that Nvidia (NASDAQ:NVDA) stock has the potential to double in 2024 following its historic year in 2023, that is indeed the case. Analysts on Wall Street believe that the AI leader's shares could rise to $1,100 in 2024.
The highest analyst price target is $230.00 ,the lowest forecast is $175.00. The average price target represents 16.84% Increase from the current price of $178.22. Amazon's analyst rating consensus is a Strong Buy.
