These are some of the best stocks to buy now or put on a 2024 watchlist based on positive analyst coverage, strong business fundamentals, and future growth prospects.
The major stock indexes generated an impressive total return in 2023, as evidenced by a rally of 44.03% in the tech-heavy Nasdaq composite, rebounding from the setback in 2022. Heading into 2024, investors are optimistic the same macroeconomic tailwinds that fuelled the stock market’s 2023 rally will propel the stock markets to new all-time highs in 2024.
Despite ongoing concerns about inflation, interest rates, stretch valuation, and recession, investors seeking the best stocks to buy in 2024 are optimistic that the Federal Reserve will achieve a soft landing for the U.S. economy and soon pivot from interest rate hikes to rate cuts.
Falling interest rates and earnings growth could be a bullish combination for stocks. However, some analysts are concerned about bloated valuations in the technology sector, and the 2024 U.S. presidential election could create some major volatility in the market.
20 Of The Best Stocks for 2024
After a wild ride for stocks in 2023, what's next in the new year? Picking the best stocks to buy in 2024 isn't about making predictions, but it's about choosing high-quality companies with growth prospects and good value for shareholders. Furthermore, it's important to pick stocks for 2024 from a variety of market sectors and regions. That way, investors can diversify their portfolios and avoid overdependence on one type of stock.
Best Stocks for 2024 by Category
Best Stocks for 2024 by Sector
Best Stocks for 2024 by Region
Note: Our top stocks are picked not necessarily the best by size or any other singular factor, but are picked based on analysts' coverage, valuation, market capitalization, dividend pay-outs, and more. Please be advised that this doesn't mean that they're the best stocks to invest in.
Some of The Best Stocks in 2024 for Growth Investors
Growth stocks are often contrasted with income stocks, which investors buy for their consistent dividend payments, and value stocks, which investors buy in the hope that their prices will rebound from a recent setback.
To find some of the best growth stocks to buy, usually investors are screening for high EPS growth and revenue growth (sometimes called sales growth). They also screen for high PE ratios and non-dividend-paying stocks to further refine their search to potentially some of the best stocks to buy today due to the share price momentum and aggressively reinvesting money in their own growth.
Micron Technology (MU) - One of the Best Stocks for Growth Investors
- Industry/Sector: Semiconductors
- Market Cap: $91 billion
- P/E: -
- EPS: -$6.27
- Dividend Yield: 0.55%
Why MU might be one of the best stocks to buy today?
The semiconductor company Micron Technology (MU), one of the largest providers of memory and storage chips in the world, expects its business fundamentals to improve throughout this year and is optimistic about capturing the growing demand for AI solutions.
Other Top Stocks for Growth Investors in 2024
Enphase stock had a wild 2023, falling just over 50%, illustrating just how impactful high-interest rates were on the residential solar industry. The good news is that Enphase expects things to begin turning around in the second half of 2024, which points to a rosy outlook for 2025. Enphase rallied at the end of 2023 because it was oversold, not because the fundamentals have improved. Still, the worst of the sell-off should be in the past, and might be one of the best stocks to watch for mid-term growth investors.
According to the US hedge fund Fisher Investment, Eli Lilly, the pharmaceutical giant creating hype these days with its weight loss drug, is one of the best stocks to buy in 2024 for growth investors. The shares traded lower late in 2023, after a study revealed that people who had lost weight due to its weight loss drug Zepbound ended up regaining weight after discontinuing use. However, the takeover of Point Biopharma and the recent launching of a direct-to-consumer website for migraine, diabetes, and weight-loss drugs, are pushing the stock price high again.
Some of the Best Stocks in 2024 for Value Investors
Investors sometimes make the mistake of associating value with an inexpensive valuation. Although valuation is certainly part of the equation, the best value stocks are companies that deliver on promises to investors, usually through dividend raises and earnings growth. Instead of purely looking at value, investors should also look to other crucial criteria like momentum and quality fundamentals.
With valuations appearing overstretched in the equity markets, value investing promises to be a key investment strategy in 2024. Here are some of the best stocks to buy in 2024, according to Joel Greenblatt, one of the most revered value investors who have perfected the art of analyzing the market and coming up with stocks trading below their intrinsic value.
JP Morgan (JPM) - One of the Best Stocks for Value Investors
- Industry/Sector: Financials
- Market Cap: $492 billion
- P/E: 10.17
- EPS: $4.5
- Dividend Yield: 2.47%
Why JPM might be one of the best stocks to buy today?
Valuation, at a shade over 10 times earnings, is quite reasonable compared with about 19 for the rest of the market. The reason for its affordability isn’t its failings as a company, BNY Mellon Income Stock Fund says, but the fact that it “is in a bad category, with banks being out of favor.” That gloom reflects a lofty interest-rate environment, as well as the severe troubles earlier in 2023 with the failure of some regional names including Silicon Valley Bank.
Other Top Stocks for Value Investors in 2024
Cisco Systems, Inc. (CSCO) is the leading networking solutions company. Networking equipment becomes more important as businesses modernize their IT infrastructure, and Cisco is well positioned to capture this demand given its broad portfolio and highly effective go-to-market strategy. Cisco is transitioning away from selling mainly transactional hardware and toward selling more software and subscriptions. This shift is expected to accelerate revenue growth, improve operating margins, and build recurring revenue, said Joel Greenblatt.
Johnson & Johnson (JNJ) is one of the best stocks to buy for 2024, picked by Joel Greenblatt for investors eyeing exposure in the healthcare sector. JNJ has carved a niche in developing, manufacturing, and selling various products in the healthcare sector. After going down by about 12% for the year, this top stock for 2024 is trading at a discount, going by its P/E of 14.47, which is way below the S&P 500 average of 24.
Best Value Stocks for 2024
Some of the Best Stocks in 2024 for Income Investors
Instruments like money market funds saw significant inflows this year amid elevated interest rates. However, dividend stocks are expected to be back in focus in 2024, amid hopes for interest rate cuts.
Income investors love high dividend yields. Unfortunately, those yields often come with unacceptable trade-offs in the form of significant risk and/or low overall growth prospects. That's not always the case, though, as there are always some top dividend stocks to watch.
Vodafone Group (VOD) - One of the Best Stocks for Income Investors
- Industry/Sector: Telecommunications
- Market Cap: $18 billion
- P/E: 2.05
- EPS: $4.44
- Dividend Yield: 11.52%
Why VOD might be one of the best stocks to buy today?
Vodafone Group (VOD) it's a leading telecommunications provider in both regions and one of the best stocks to buy for income investors, thanks to its sky-high dividend yield of 10.9%, the highest within the FTSE 100. While many stocks flourished last year, Vodafone floundered, losing more than 10%.
Other Top Dividend Stocks for 2024
Some might say that Pfizer's dividend of nearly 5.8% is about the only thing going for it these days. Pfizer delivered a dismal stock performance last year, with its share price more than 50% below the peak set in 2021. Sales are declining. So are profits. Does that make Pfizer stock a lost cause? Analysts think that many investors are overlooking Pfizer's non-COVID growth prospects. The company projects that it will add $45 billion in new revenue by 2030.
The Florida-based holding company Icahn Enterprises LP (IEP) operates businesses in a wide range of industries, including automotive, energy, investments, and real estate. Its dividend yield stands at a jaw-dropping 22.3%. Last year, Icahn Enterprises slashed its dividend in half. The move didn't negatively impact its yield very much because the company's share price nosedived. Over the last 12 months, Icahn Enterprises stock has plummeted 65% and might be another undervalued top stock for 2024.
Some of the Best Tech Stocks for 2024
Tech stocks appeal to many investors due to their high growth and innovation potential. Tech companies often lead in transformative advancements, fostering innovation that can result in substantial returns for investors. The tech industry is dynamic and consistently evolving with new developments in artificial intelligence, cloud computing, and digital transformation.
In 2024, the tech industry is poised for continued growth, driven by ongoing innovation and increasing reliance on emerging technology across various sectors. The outlook remains positive, emphasizing the industry's pivotal role in shaping the future of global economies and driving significant investment opportunities.
Electronic Arts (EA) - One of the Best Stocks from Information Technology Sector
- Industry/Sector: Consumer Entertainment
- Market Cap: $37 billion
- P/E: 38
- EPS: $3.65
- Dividend Yield: 0.55%
Why EA might be one of the best stocks to buy today?
Electronic Arts stands out as a top tech stock for 2024 due to its prominent position in the gaming industry. As a leading game developer and publisher, EA enjoys a diversified portfolio of popular franchises, fostering a solid player base globally. Its focus on gaming content, spanning across consoles, mobile, and PC platforms, provides a robust revenue stream. Additionally, EA's commitment to innovation, evident in its continuous release of new titles and expansion into cloud gaming, augurs well for future growth potential.
Other Top Stocks for 2024 from the Information Technology Sector
UiPath specializes in robotic process automation (RPA). RPA helps companies become more efficient by helping to automate tedious tasks. Instead of having employees mindlessly click through several pages, pull data from the same source, and create a report, UiPath provides tools that can automate these tasks, freeing people to do more creative work. The RPA market opportunity is relatively small right now, but Polaris Market Research expects to grow x30 in the next 5 years. Trading at 10 times sales, UiPath is seen as one of the best stocks to buy for the next 5 years.
Meta Platforms is also one of the most recommended stocks for 2024 by Wall Street analysts due to its dominant presence in the social media landscape, continuous innovation, and initiatives to capitalize on emerging technologies. However, concerns arise regarding data privacy issues, regulatory challenges, and the company's ability to navigate changes in user behavior.
Best Tech Stocks for 2024
Some of the Best AI Stocks for 2024
2023 was the year of artificial intelligence (AI) investing, and perhaps the biggest winners were the "Magnificent Seven" stocks, a moniker that includes mega-cap behemoths Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms. These top artificial intelligence (AI) stocks have delivered incredible returns and crushed the market over the last year -- and the trend looks poised to continue in 2024.
While some smaller companies will undoubtedly emerge as winners, the competitive advantages granted by infrastructure and data strengths suggest the AI race will continue to favor large players.
Advanced Micro Devices (AMD) – One of the best stocks in AI industry
- Industry/Sector: Semiconductors
- Market Cap: $240
- P/E: 1,167
- EPS: $0.18
- Dividend Yield: None
Why AMD might be one of the best stocks to buy today?
While Nvidia is the dominant player in AI GPUs and was by far the best stock to hold in 2023, AMD has a unique opportunity to capitalize on unprecedented demand in the data center space. Investors should view AI as more of a marathon than a sprint, keeping in mind that AMD spent a good portion of 2023 making strategic acquisitions, which haven't been fully integrated or monetized yet.
Other Top Stocks for 2024 from the AI Industry
Thanks to its ability to gather and analyze valuable data to produce simulations and suggest optimal courses of action, Palantir has won major contracts with agencies within the U.S. Department of Defence and other government organizations. The data analytics specialist has also been rapidly attracting business customers -- and its new AI technologies look poised to power accelerating growth in the private sector. Palantir stock it's still down over 50% from its high and has the potential to be one of the best stocks in 2024.
CrowdStrike is a leader in the cybersecurity space. Its primary offering is endpoint protection -- protecting network access points like phones or laptops from breaches. CrowdStrike uses a branch of Generative AI to create sophisticated cybersecurity products that constantly and automatically evolve to protect its clients from the latest threats. According to TipRanks, is one of the best stocks to buy in 2024 from the AI sector.
Some of the Best Automotive Stocks for 2024
High vehicle prices and high-interest rates remain the industry's Grinch right now, and that trend may continue into 2024. For those seeking large-cap exposure in the auto industry, the below could be great considerations, all boasting improved earnings outlooks. The industry's resilience, coupled with the stability offered by large-cap stocks, positions investors for a smooth ride in the coming year.
Ferrari (RACE) – One of the best stocks in the automotive industry
- Industry/Sector: Automotive
- Market Cap: $62 billion
- P/E: 49.42
- EPS: $7.05
- Dividend Yield: 0.57%
Why Ferrari might be one of the best stocks to buy today?
Headquartered in Italy, this luxury supercar manufacturer is riding on its pricing power, burgeoning order book, brand recognition, and exclusivity, which enable it to register high margins, as detailed in the best European stocks for the 2024 post.
Other Top Stocks for 2024 from the automotive industry
Headquartered in Washington, PACCAR is one of the leading names in the trucking business, with reputed brands like Kenworth, Peterbilt, and DAF. Accelerated efforts toward electrification, connected vehicle services, and advanced driver-assistance system options are set to bolster the company’s prospects.
After tanking 65% in 2022, Tesla's stock price has skyrocketed +100% in 2023. The company is benefiting from some strong investor enthusiasm. It's hard to envision a scenario where the stock does well in 2024 without the business showing signs of improvement. If Tesla can register accelerating growth more in line with historical levels, while at the same time stabilizing its margins, might be one of the best stocks to buy in 2024.
Some of the Best REIT Stocks for 2024
Investors looking ahead into 2024 will find real estate investment trusts (REITs) to be an attractive sector of the stock market to own. After two years of inflation and interest rate hikes, the tide seems to have turned. The major central banks have paused rate hikes and are pointing toward interest rate cuts in 2024.
While it's difficult to say for sure which of the hundreds of REITs out there will have the highest total gain over a full year, there are certain measures to look at when screening for the best stocks to buy from the real estate industry: a moderate price to funds from operations (P/FFO) ratio, a dividend yield that's high enough to compete with fixed-income assets, yet low enough to reduce the risk of being a yield trap, and a payout ratio that still covers the dividend without the risk of a dividend cut.
Realty Income (O) - One of the best stocks in the real estate industry
- Industry/Sector: Real Estate Investment Trust
- Market Cap: $42 billion
- P/E: 44.49
- EPS: $1.31
- Dividend Yield: 5.19%
Why Realty Income might be one of the best stocks to buy today?
RBC Capital called Realty Income one of the best stocks to buy for 2024 in the net lease REITs group. The analysts highlighted that the company’s cost of capital is one of the lowest among its peers, which in their opinion, is vital for operating in the net lease REIT space.
Other Top Stocks for 2024 from the real estate industry
In this digital era, the high demand for inter-connected data center spaces by enterprises and service providers will continue as they integrate AI into their strategies and offerings and advance their digital transformation agendas. As the implementation of AI becomes more prevalent, the sector is forecasted to see more investments in 2024, enhancing the growth prospects for data center REITs such as Equinix, Inc. (EQIX).
Tritax is a significant player within the logistics real estate market as it has over £7 billion in assets under its management and over 50 million square feet of real estate. Tritax works with some large, reputable companies such as Next, Rolls Royce, and DHL and has long-term deals with multiple UK supermarket giants, including M&S, Tesco, and Morrisons. As hosting tenants with such grand operations across the country could mean that Tritax doesn’t need to constantly find new tenancies to maintain a reliable income, it is considered one of the best stocks to buy for the long term from the real estate sector.
Some of the Best Gold Stocks for 2024
Gold prices are forecasted to carry the positive momentum into 2024 and potentially sustain levels above $2,000 per ounce while reaching new highs. This optimistic gold price prediction is attributed to heightened geopolitical uncertainty, a potentially weaker U.S. dollar, and prospects of interest rate cuts. Central bank gold buying is also expected to provide additional support to the precious metal.
While owning physical gold is expensive and complicated, buying gold stocks is one way for individual investors to get the exposure they need in their portfolios.
Newmont (NEM) - One of the best stocks from the gold mining sector
- Industry/Sector: Gold Exploration
- Market Cap: $43.24 billion
- P/E: N/A
- EPS: $0.36
- Dividend Yield: 4.26%
Why Newmont might be one of the best stocks to buy today?
Newmont is the world’s largest gold miner, both as measured by market capitalization and production, especially since the acquisition of Newcrest in May 2023. The Newcrest acquisition has added a lot of gold and copper reserves, mostly in the very safe jurisdictions of Canada and Australia. The company also estimated from the experience of previous mergers that it would create $500M of synergies.
Other Top Stocks for 2024 from the gold mining sector
There is an alternative to miners when it comes to investing in the best stocks in this field. Royalties companies provide financing to build gold mines in exchange for either a future percentage of the total revenues of the project or “free” delivery of a percentage of the gold produced. This usually makes royalties companies less sensitive to gold price fluctuation as they do not pay themselves the exploitation costs but get a part of the miner turnover (and not earnings). Franco-Nevada may be one of the best stocks to buy for gold investors looking for a pioneer in creating the mining royalty sector.
Gold ETFs can give investors access to dozens of gold stocks with a single purchase. It’s still important to research gold ETFs before investing, as they come in a few different varieties. Some gold ETFs contain some of the best gold mining stocks, but others invest in gold futures or bullion instead.
Some of the Best Oil Stocks for 2024
Oil stocks experienced a remarkable performance in 2022, but their fortunes took a downturn in 2023. Despite the broader market's significant gains, the energy sector saw a decline in value. However, analysts at Fidelity suggest a favorable outlook for 2024.
They forecast oil prices are likely to remain elevated in 2024 – driven by tight supply, increased geopolitical risk, and strengthening global demand for energy. This could set up a positive backdrop for profitability, and that means Wall Street's best oil stocks to buy from the energy sector are poised for outperformance.
Halliburton (HAL) - One of the best stocks in the oil and gas industry
- Industry/Sector: Oil Service
- Market Cap: $30 billion
- P/E: 11.76
- EPS: $2.91
- Dividend Yield: 1.87%
Why Halliburton might be one of the best stocks to buy today?
Halliburton Company (HAL) functions as a prominent oilfield service provider, specializing in catering to the upstream oil and gas sector across the complete reservoir lifecycle.
Other Top Stocks for 2024 from the oil and gas industry
Exxon is one of the largest companies in the world by market cap, and only behind the mostly state-owned Saudi Aramco in the industry. It owns assets both upstream (oil & gas production) and downstream (refineries). The company is investing in increasing its capacity, notably shale oil in the Permian basin, a massive offshore oil field launching in Guyana, and refineries and chemical plant expansions. With high dividends, and a solid growth profile both in the US and abroad, Exxon is one of the best stocks for investors to bet on oil.
Oil ETFs can give investors access to dozens of top stocks in the energy sector with a single purchase. It’s still important to research oil ETFs before investing, as they come in a few different varieties. Some oil ETFs contain companies focused on exploration and production, refiners, or pipeline operators, but others invest in oil futures instead.
Some of the Best Crypto Stocks
Bitcoin, Ethereum, Cardano, and Dogecoin have rallied 150.2%, 80.4%, 130.8%, and 27.1%, respectively, sparked by renewed optimism as the major central banks gear up to end their monetary tightening policy. Also, market participants are confident about the recent approval from the SEC for 11 Bitcoin ETFs, which should boost the cryptocurrency market.
These stocks include popular crypto exchanges, cryptocurrency miners, blockchain technology specialists, and other companies that have large cryptocurrency holdings on their balance sheets. They can be highly correlated to cryptocurrency price fluctuations, making them extremely volatile and unpredictable.
Block (SQ) - One of the best stocks from the crypto & blockchain sector
- Industry/Sector: Financial Technology
- Market Cap: $42 billion
- P/E: N/A
- EPS: $-0.46
- Dividend Yield: None
Why SQ might be one of the best stocks to buy today?
Block Inc. SQ is an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. The users of the Cash App can buy, sell, send, and receive Bitcoin. In addition, SQ’s decentralized tbd platform allows developers to build decentralized finance applications to run on programmable blockchains.
Other Top Stocks for 2024 from the crypto & blockchain sector
PayPal operates its own digital wallets and allows users to buy, transfer, and sell cryptocurrencies. Although the stock lost around 80% in the last 3 years, PayPal Holdings’ expected earnings growth rate for the current year is 11.5%. The company still has a lot to recommend to analysts, which makes its current stock price a potential value for investors looking to gain crypto exposure and potentially one of the best stocks for 2024.
As an alternative to cryptocurrency trading through CFDs or purchasing crypto on exchanges, a crypto ETF or Bitcoin ETF allows investors to buy a product that tracks the price of digital assets such as bitcoin through the same mechanism they already use to buy stock and bond index funds. This also eliminates the burden of managing their holdings, which typically involves maintaining a cryptocurrency wallet and cold storage to safeguard that investment.
Some of the Best Renewable Energy Stocks
There are lots of reasons to be excited about advances in renewable energy: The field is helping to preserve the environment creating new industries and making electric cars more affordable. If you want to get your investment portfolio involved in the green revolution, you can start by investing in renewable energy stocks. However, like any investment, there are risks, including regulatory changes impacting the renewable energy sector and potential competition from other renewable energy sources or technologies.
Many companies focus on renewable energy, putting them in an excellent position to potentially benefit from this investment megatrend. However, like in most market sectors, a few renewable energy companies stand out above their peers as the best stocks to buy in 2024.
NextEra Energy (NEE) - One of the best stocks from the green energy sector
- Industry/Sector: Electric power and energy infrastructure
- Market Cap: $124 billion
- P/E: 16
- EPS: $3.79
- Dividend Yield: 3.08%
Why NextEra might be one of the best stocks to buy today?
Few companies are betting bigger on renewable energy than NextEra Energy. The utility unveiled its Real Zero plan in 2022 to eliminate carbon emissions from its operations by 2045. It aims to significantly expand its solar energy and storage capacity while replacing natural gas in its power plants with green hydrogen and renewable natural gas.
Other Top Stocks for 2024 from the green energy sector
Brookfield Renewable, one of the world's largest producers of hydroelectric power, has been increasing its wind (onshore and offshore), solar (utility-scale and distributed generation, such as rooftop solar), and energy storage expertise. Brookfield sees even more growth ahead -- annual EPS growth of more than 10% through 2028 -- powered by its extensive pipeline of renewable energy development projects and additional acquisitions. This earnings growth should enable the company to hike its dividend by 5% to 9% annually -- making it one of the best stocks to buy in the renewable energy sector, according to Forbes.
SunPower stands out as a prominent energy stock for 2024 due to its focus on renewable energy solutions, particularly solar power. The company's pro-environmental stance and innovative technology in solar panel manufacturing make it an attractive investment choice amid the global shift towards clean energy. SunPower's strengths lie in its diversified product portfolio, cutting-edge solar technologies, and strategic alliances, positioning it well in the renewable energy market.
Some of the Best Stocks from the US
The US market’s exuberant rally at the end of 2023 has left stocks overvalued, with investors especially emboldened by the Federal Reserve’s December indication that rate cuts are on the horizon. When investors have such lofty expectations, there’s little room for error.
Looking ahead, Morgan Stanley believes investors should have a more measured outlook, with 2024 more likely to be an average year for markets than another double-digit winner, given risks such as the excessive valuations, vulnerable corporate earnings, overly optimistic rate expectations, and normalizing financial conditions. Financials, industrials, utilities, consumer staples, and healthcare are among the bank’s favored sectors, especially until the first Fed rate cut.
Occidental Petroleum (OXI) - One of the best stocks from US
- Industry/Sector: Hydrocarbon exploration
- Market Cap: $50 billion
- P/E: 12.45
- EPS: $3.93
- Dividend Yield: 1.26
Why OXI might be one of the best stocks to buy today?
It's plainly evident that Warren Buffett is betting big on energy stock Occidental Petroleum (OXY) in 2024. Berkshire Hathaway added more than 49 million shares of Occidental's common stock in 2023, with Buffett and his crew building this 243.7-million-share position from scratch over the past two years. The Oracle of Omaha and his team aren't riding a $14.6 billion position without a purpose. They're very likely forecasting crude oil prices to remain elevated if not head even higher.
Other Top Stocks for 2024 from US Markets
Senior Earnings Analyst at FactSet, John Butter, thinks First Solar will be the best stock in 2024. They're calling for an impressive 58.1% rise — enough to beat all other S&P 500 stocks. Unlike some other favorite stocks that were down in 2023, First Solar lost only 3%. Analysts clearly like the fundamental story at First Solar. The company is seen making $7.92 a share in profit this year, reversing a year-earlier loss. And in 2024, profit per share is expected to rise more than 65%.
Some of the Best Stocks from the EU
The eurozone has brought down inflation faster than either the United States or Britain, and the scope for early interest rate cuts is correspondingly greater. Unemployment levels are low, and wages have been rising. It should be a golden scenario, yet there are growing worries that Europe is heading into recession, with the powerhouse of Germany leading the way in the wrong direction.
According to Citigroup, European stocks are likely to hit a record high next year as “the balance of macro risks” is improving, according to Citigroup. Their model that adjusts for the impact of interest rates suggests that “Europe already has the worst news in the price”. However, the likes of Bank of America Corp. and Societe Generale SA see declines due to the impact of a slowing economy and interest rate hikes.
ASML - One of the best stocks from the EU
- Industry/Sector: Semiconductors
- Market Cap: $262 billion
- P/E: 32.75
- EPS: $20.75
- Dividend Yield: 0.92%
Why ASML might be one of the best stocks to buy today?
ASML has played a pivotal role in the exponential growth in computing power known as Moore’s law. It has a massive competitive advantage in the field of lithography and looks set to remain pivotal in driving huge advances in computing.
Other Top Stocks for 2024 from EU Markets
it shouldn't be surprising that shares of Novo Nordisk (NVO), the pharmaceutical company behind Ozempic and Wegovy, have done well. The shares gained more than 35% in 2023 and more than 200% over the past 3 years, which made NVO one of the best European stocks this decade. The firm's shares saw turbulence in November 2023 as its head of commercial strategy sold $1.3 million worth of shares which led to a price drop. However, the multinational investment bank Jefferies highlighted NVO as one of the best stocks to buy in 2024.
The US bank JPMorgan has named RWE as one of the best stocks to buy in 2024 among European utilities, with a price target of 59.50 euros (up 50% from the January prices). The headwind for the sector's profits due to higher interest rates will be more than compensated for by higher energy prices. In addition, the momentum in the renewable energy sector should continue to improve over the course of the coming year.
Some of the Best Stocks from the Eastern Europe
The year 2023 was the year of records for the Bucharest Stock Exchange and probably one of the best years in its history. While the market value of companies listed on the BVB has increased significantly and reached the highest level in history, all BSE's BET index has marked double-digit growth. There is no doubt that energy companies were the main drivers of this performance. However, bank stocks were among investors' favorites as their performance was boosted by higher interest rates.
As BSE becomes the third largest stock market in Central and Eastern Europe, some of the best BSE stocks seem to have entered on international investors' watchlist for 2024.
Banca Transilvania (TLV) - one of the best stocks from the Eastern Europe
- Industry/Sector: Banking
- Market Cap: 19.46 billion RON
- P/E: 6.48
- EPS: 3.77 RON
- Dividend Yield: 4.64
Why TLV might be one of the best stocks to buy today?
Baca Transilvania (BSE: TLV) is the largest bank in Romania and South-Eastern Europe. As a universal bank, it covers all customer segments and business lines in the financial sector. It has about 20% market share, over 4 million customers, about 10,000 employees, online banking solutions, and 500 branches in 180 locations. Banca Transilvania's brand value has surpassed the USD 500 million threshold, and it has entered the top 300 in the Brand Finance Banking 500 2023. It is also in the Top 10 Strongest Banking Brands Worldwide, with an AAA+ brand rating.
The Romanian banking leader has a market capitalization of 19.4 billion lei, while during the last 12 months, TLV was one of the best stocks to buy in Eastern Europe with a +30% price increase. Romania’s largest bank has also received an investment-grade credit rating from Moody's, which rates BT as having robust capital, strong and resilient profitability, and significant liquidity, according to a bank press release from December 2023.
Other Top Romanian Stocks for 2024
With a growth of more than 25% in 2023, OMV Petrom (SNP), the largest integrated energy company in Southeast Europe, has big plans for 2024. The company is set to acquire from RNV Infrastructure a 50% stake in Electrocentrale Borzesti, which holds approximately 1 GW capacity of renewable projects, out of which 950 MW wind and 50 MW photovoltaic. Furthermore, OMV Petrom will fully acquire Renovatio Asset Management, the owner of Romania’s leading EV charging network, with more than 400 EV charging points in Romania, and plans to increase to approximately 650 by 2026.
Best Stocks from the UK
UK investors tend to turn to the FTSE 100 for the relative safety provided by the dividend stocks — while the index typically pays out circa 4% per annum, there are many popular choices that have been sustainably paying out more than this over many years.
While past performance is not an indicator of future returns, the common trope is that investors in FTSE 100 dividend shares are eschewing the increased capital gains on offer elsewhere — for example, the S&P 500 — in return for reduced risk. However, some of the best stocks from the UK have delivered extraordinary returns in 2023, and while there is an element of subjectivity to ‘top stocks’ to watch in 2024, the following could be on investor radars.
BAE Systems (BA) - One of the Best Stocks to Buy from UK
- Industry/Sector: Arms, security, and aerospace
- Market Cap: $35 billion
- P/E: 18.9
- EPS: $2.06
- Dividend Yield: 2.38%
Why BAE Systems might be one of the best stocks to buy today?
BAE Systems operates in around 40 countries and is a major supplier to the US, UK, Saudi Arabia, and Australia. The defensive giant was one of the best stocks in 2023, and as the geopolitical landscape, unfortunately, continues to fracture, it is forecasted to continue to overperform the UK stock index.
Other Top Stocks for 2024 from the UK
The growth could be set to continue and make Rolls-Royce Holdings also one of the best stocks to invest in for 2024. With a slew of banking giants, including Citi, UBS, and Deutsche Bank upgrading their targets in recent days, Fitch Ratings upgraded to BB+, Rolls Royce might be one of the best stocks in the UK in 2024.
Mark & Spencer's growth can be attributed to its strategic pivot. Underperforming shops were closed, while those with untapped potential were refreshed — and the retailer invested huge sums into its web presence and online platform, targeting younger consumers.
Best UK Stocks 2024
Some of the Best Stocks from China
China is at a crucial juncture where its once-thriving real estate sector is facing a downturn, triggering broader economic concerns. Apart from real estate woes and despite China's economic rebound from pandemic lows in 2023, two persistent factors threaten consistent growth — the global economic slowdown and the domestic consumption conundrum. These challenges, intertwined and complex, are major hurdles for China's economic resilience.
Goldman Sachs expects China stocks to make their first annual gain in 4 years in 2024. They have picked sectors in China’s mass consumer market and technology, media, and telecom as likely winners in the ongoing rebalancing in the world’s second-largest economy in the year ahead as the policy environment turns more accommodative.
Tencent Holdings (TCEHY) - One of the Best Stocks to Buy from China
- Industry/Sector: Technology/Internet Content & Information
- Market Cap: $2.7 trillion
- P/E: 13.20
- EPS: $2.98
- Dividend Yield: 0.83%
Why Tencent might be one of the best stocks to buy today?
Tencent remains a top tech stock for 2024 due to its extensive gaming, social media, and digital services portfolio, solidifying its position as a tech giant in China and globally. The company's diversified revenue streams encompass gaming revenues from popular titles like Honor of Kings and PUBG Mobile, a strong presence in social media through WeChat, and investments in various tech companies worldwide, offering stability and potential for growth.
Other Top Stocks from China for 2024
Although some of the best stocks have lost more than 10% in 2023, they have the potential to turn around in 2024 based on their strong fundamentals. JinkoSolar's commitment to research and development is expected to translate into further advancements in module efficiency and cost reduction, maintaining its competitive edge and potentially opening new market segments.
NetEase Inc (NTES) is a hybrid of Electronic Arts (EA) and Microsoft Corporation (MSFT). While generating revenue from developing and publishing video games, including in-game advertising and subscription fees, NetEase also offers cloud computing services. The latter are employed by China’s digitized economy, from government and educational institutions to businesses.
Some of the Best Stocks from Japan
Following Buffett’s interview with Nikkei Asia in April – in which he extolled the virtues of investing in Japan – Japan’s stock market saw 10 weeks of consecutive net foreign buying in cash and futures.
The Japanese stock market had an extraordinary 2023, with a 28% gain of the benchmark Nikkei 225 in 2023, the fastest expansion in a decade, reaching the highest tally since the twilight of the Japanese bubble economy in 1989.
Toyota Motor Corporation (TM) - One of the Best Stocks to Buy from Japan
- Industry/Sector: Automotive
- Market Cap: $46 billion
- P/E: 9.94
- EPS: $2.06
- Dividend Yield: 2.29%
Why Toyota might be one of the best stocks to buy today?
Toyota announced an expanded recycling partnership with Redwood Materials to achieve battery ecosystem circularity. The collaboration includes recycling automotive batteries from TM’s electrified vehicles and sourcing Cathode Active Material (CAM) and Anode copper foil from Redwood for new battery production.
Other Top Stocks for 2024 from Japan
Part of the reason Japanese stocks are considered some of the most undervalued stocks to buy in 2024 is that they haven't moved above their record high reached more than 30 years ago. While Toyota is trading at 17 times forecast earnings, Honda (HMC), the other top automaker in Japan, is trading at eight times forecast earnings and is another top stock to watch in 2024.
SONY is poised to make a foray into cloud gaming, signaling its intent to expand beyond traditional consoles. The company recognizes the significance of cloud computing in capitalizing on the growing trends in mobile gaming. Additionally, SONY is strategically expanding its market share in the thriving business of camera smartphones and aims to be one of the best stocks for 2024.
Alternatively, investors could buy a fund such as the iShares MSCI Japan (EWJ) exchange-traded fund, which tracks a large basket of Japanese listed companies, or take a position on the Nikkei 225 index.
Some of the Best Stocks from Saudi Arabia
Emerging as a dynamic force in the financial landscape, the Saudi stock market experienced notable shifts and achievements in the closing months of 2023, setting the stage for an intriguing entry into 2024. The Tadawul All Share Index, the primary benchmark for the Saudi stock market, witnessed remarkable fluctuations, reflecting the impact of global economic trends and regional dynamics.
As we step into 2024, the Saudi market's trajectory remains of great interest to global investors, starting 2024 on a positive note, on expectations of interest rate cuts by the U.S. Federal Reserve this year. Monetary policy in the six-member Gulf Cooperation Council is usually guided by the Fed's decisions because most regional currencies are pegged to the dollar.
AL RAJHI BANK (1120) - one of the best stocks from Saudi Arabia
- Industry/Sector: Financials
- Market Cap: 348.00 billion SAR
- P/E: 20.65
- EPS: 4.04 SAR
- Dividend Yield: 2.4%
Why Al Rajhi Bank might be one of the best stocks to buy today?
Al Rajhi Banking and Investment, a company that pays dividends, currently offers a yield of 2.4%, which is well covered by earnings. The bank stands as a financial powerhouse and a beacon in the Saudi Arabian banking sector, demonstrating resilience and adaptability in navigating the complexities of the financial landscape. With a rich legacy and a commitment to excellence, Al Rajhi Bank has positioned itself as a leader, catering to diverse customer segments and offering a comprehensive suite of financial services.
Al Rajhi Banking and Investment is forecast to grow earnings and revenue by 9.8% and 11.2% per annum, respectively. EPS is expected to grow by 10% per annum, showcasing the bank's potential as one of the best stocks in 2024 from the MENA region. Return on equity is forecast to be 18.8% in 3 years, affirming its standing as a reliable investment. The bank's robust market capitalization, strategic initiatives, and a track record of sound financial performance make it a potential top choice for investors seeking stability and growth in the dynamic Saudi market.
Other Top Stocks for 2024 from Saudi Arabia
Alinma Bank (1150) has steadily grown to be one of the largest banks in Saudi Arabia, a leading Shariah-compliant financial institution in the region, and the recipient of several awards from leading financial publications. Based on its continuous strong financial performance and its growing local presence, Alinma is one of the top stocks in KSA by volume and value traded, with a significant market capitalization that is growing exponentially.
Some of the Best Stocks from the UAE
According to Reuters, GCC stock markets will continue a strong growth trajectory this year, led by the UAE, on the back of strong macroeconomic fundamentals, a vibrant investment landscape, cooling inflation globally, and higher expectations of rate cuts, analysts say.
Sectors such as energy played a pivotal role in driving market value to historic highs, mirroring the exceptional performance witnessed on the UAE Stock Market in 2023. While the energy sector showcased its prominence, banking stocks emerged as favorites among investors, propelled by the impact of higher interest rates.
EMIRATES TELECOM (EAND) - one of the best stocks from the UAE
- Industry/Sector: Communication
- Market Cap: 47.03 billion AED
- P/E: 14.10
- EPS: 1.9 AED
- Dividend Yield: 3.98%
Why EAND might be one of the best stocks to buy today?
Emirates Telecommunications Company, or Etisalat, is a telecom giant in the UAE and beyond, dominating the market with diverse services. As a comprehensive provider, it caters to varied customer segments and telecom sectors. Etisalat's substantial market share, vast customer base, and cutting-edge solutions reinforce its resilience and growth, reflected in its 2024 market capitalization. Proven as a top-performing stock in the past year, Etisalat stands out with a robust financial position, as affirmed by credit rating agencies, which see EAND as one of the best stocks to buy in 2024 from the UAE.
Emirates Telecommunications is forecast to grow earnings and revenue by 4% and 1.9% per annum respectively. EPS is expected to grow by 3.4% per annum. Return on equity is forecast to be 19.2% in 3 years. Etisalat has been growing earnings at an average annual rate of 2.8%, while the Telecom industry saw earnings growing at 11.2% annually. Revenues have been growing at an average rate of 0.3% per year. Etisalat's return on equity is 22.9%, and it has net margins of 19.5%. Etisalat is a dividend-paying company with a current yield of 3.98%, well covered by earnings.
Other Top Stocks for 2024 from UAE
With an extensive network, spanning mobile and Internet banking to branches, First Abu Dhabi Bank stands as a crucial investment choice. In the evolving financial landscape of 2024, bank shares, particularly First Abu Dhabi Bank, play a pivotal role, in showcasing resilience and strategic positioning in the dynamic banking sector.
Some of the Best Emerging Markets Stocks
For investors, the purpose of emerging markets is to gain exposure to greater risk for greater reward. 2023 has been a year of below-average growth for many major EM countries with mostly flat performance year-to-date. China’s recovery has been uneven, while Taiwan and Korea’s growth, which is highly tied to global growth and semiconductors, suffered. These conditions may change in 2024.
Given the pessimism in the market, 2024 may present an opportunity for stock pickers in the Asian stock markets, as valuations grow disconnected from fundamentals which appear to be improving. Drivers for emerging markets in 2024 include a potential recovery in earnings growth, the likelihood of a US soft landing, and evidence that interest rates have peaked.
JinkoSolar (JKS) - One of the best stocks from Emerging Markets
- Industry/Sector: Semiconductors
- Market Cap: 1.603B
- P/E: 3.04
- EPS: 10.23
- Dividend Yield: 4.16%
Why JinkoSolar (JKS) might be one of the best stocks to buy today?
With a low P/E valuation of 3.04 and its rising estimates and strong return on equity (ROE), JinkoSolar (JKS) is positioned as a strong candidate for solar energy-oriented investors’ portfolios. The solar products manufacturer may benefit from its stable financial position and rapid increase in demand in 2024.
Other Top Emerging Markets Stocks for 2024
Li Auto (LI) continues to surprise with record EV delivery numbers. Despite the company’s growth, LI stock has dropped by 4% in the last six months, many market experts expect this Chinese EV Company to be a massive value creator in 2024 and beyond. A forward price-earnings ratio of 34 underscores the view on the valuation gap for this high-growth company.
To put things into perspective, Li Auto delivered 131,805 cars in Q4 2023. On a year-on-year basis, deliveries surged by 184.6%. It is believed that strong deliveries will be sustained this year due to new launches and aggressive retail network expansion. The company expects to commence mass deliveries of Li MEGA in March.
Another popular option for investors seeking to diversify is to invest in emerging market exchange-traded funds (ETFs). For example, the iShares MCSI Emg Markets ETF invests in some of the best stocks listed on the emerging stock markets.
Are these the best stocks to invest in right now?
Not necessarily. These are some of the best stocks to watch in 2024 based on analyst coverage, and defensive and recovery opportunities. But that doesn't mean that they're the best stocks to invest in. Predicting the future of even the current top-performing stocks is a job even the pros haven’t yet mastered. The best stocks to buy for your portfolio aren’t necessarily the best stocks for someone else’s portfolio.
These stocks may go up during 2024 or for a while (or not) but doing at least some basic personal research allows you to confidently judge whether to invest, when to invest, and how much. Inevitably, even the best stocks go down sometimes, so you’ll need your knowledge to decide whether to stick with the company or sell.
For example, if you invest only in the best–performing stocks in the past quarter or year – without understanding the company, the industry, and its competitive situation – you’re likely to wind up buying high and selling low. You’ll tend to chase whatever is hot now, but then sell once it cools off.
How to find the best stocks to buy now?
Choosing good stocks for your portfolio is a relatively time-consuming task, and you need to look beyond performance metrics like the ones on this page. Yes, it's a solidly good sign if a stock is able to outperform during periods of market volatility and the broad market declines like we've seen in 2022. But as referenced above, there are a number of other factors to consider.
Beyond your own personal risk tolerance and how long you plan to invest, strategic investors do significant research into a company before buying its stock. They perform fundamental analysis, which involves looking at the company's financial statements and considering how economic factors might influence the stock's future performance.
Many investors also do technical analysis of a stock, which means analyzing historical movements in the stock's price to attempt to predict future movements. If you want to go this route, we have detailed overviews of how to buy stocks and how to trade stocks, including key terms to know.
An alternative to chasing the best stocks to buy now
If all the above sounds like a lot of work, it is. The fact that picking stocks is so difficult leads many investors to turn to exchange-traded funds (ETFs), which bundle many stocks together.
When individual stocks come together into a diversified portfolio via index funds, they have a lot of power: The USA500 index — which includes approximately 500 of the largest publicly traded companies in the U.S. — has posted an average annual return of nearly 10% since 1928. An S&P 500 index fund or ETF will aim to mirror the performance of the S&P 500 by investing in the companies that make up that index. Likewise, investors can track the DJIA with an index fund tied to that benchmark. If you want to cast a wider net, you could purchase a total stock market fund, which will hold thousands of stocks.
That generally means using funds for the bulk of your portfolio — Warren Buffett has famously said a low-cost S&P 500 ETF is the best investment most Americans can make — and choosing individual stocks only if you believe in the company’s potential for long-term growth.
Trade and invest in stocks with CAPEX.com
Investing and trading are both ways to get exposure to the best stocks of 2023. Even though both offer the potential to benefit from the financial markets, they differ fundamentally.
Invest in some of the best stocks of 2024
Investing means that you will own the physical shares of stocks and funds until you decide to sell them. When investing, you need to commit to the full value of the investment upfront. If your shares are worth more when you sell them than when you bought them, you’ll make a profit. But, if the price has declined, you’ll incur a loss. While the profit potential is technically unlimited, your losses are capped at your full initial outlay.
You might want to invest in some of the best stocks of 2024 if:
You’re interested in buying and selling assets (stocks and ETFs)
You’re focused on longer-term growth
You want to build a diversified portfolio
You want to take ownership of the underlying asset
You want to gain voting rights and dividends (if paid)
Trade some of the best stocks of 2024
Trading, on the other hand, enables you to predict share price movements without owning the underlying asset – and you can go long or short. This means that you can speculate on rising as well as falling prices. You also don’t need all the capital upfront, as you’ll trade using leverage. All you need to open a position is a small deposit called a margin. Keep in mind that leverage magnifies both potential profits and possible losses. This makes it vital that you manage your risk properly.
Do you want to practice trading? Open a CAPEX.com demo account to trade in a risk-free environment.
You might want to trade some of the best stocks of 2024 if:
You are interested in speculating on the underlying price of the assets
You want to trade rising and falling markets – going long and short
You want to leverage your exposure
You want to take shorter-term positions
You want to hedge your portfolio
You want to trade without owning the underlying asset
Before you start investing in the best stocks for your portfolio and needs, you should consider using the educational resources we offer like CAPEX Academy or a demo trading account. CAPEX Academy has lots of trading and investing courses for you to choose from, and they all tackle a different financial concept or process – like the basics of analyses – to help you become a better trader or make more informed investment decisions.
Our demo account is a suitable place for you to learn more about leveraged trading, and you’ll be able to get an intimate understanding of how CFDs work – as well as what it’s like to trade with leverage – before risking real capital. For this reason, a demo account with us is a great tool for investors who are looking to make a transition to leveraged trading.