The New Year is fast approaching, so it is time to make a list! We are not discussing a list of presents, as 2024 looks like an exhilarating investment year.
There are many upcoming trends with NFTs, VR technology, and even the best crypto based games at online casinos, which are rising exponentially! So, our advice here is to be sharp-minded when looking at promising stocks for 2024, and this article is the best starting point for you! We can look at the general financial trends of 2024 alongside the leading proven and shaken-down companies that will be on the rise in the upcoming year.
What Will Drive Markets in 2024?
Before we talk about the best stocks for 2024, let’s look at what might be necessary for the markets in the coming year. One exciting thing is that inflation is expected to calm down and stabilise. This sets the scene for some exciting investment opportunities ahead.
All stats show that global inflation has dropped significantly from 8% to under 3.5%. This is a positive trend that we can all appreciate. Looking ahead to 2024, predictions suggest that it will continue to decrease:
- The labour market will shift back in balance, softening wage growth.
- The pace of job gains will cool across economies.
This is why we believe you should think outside the box a little and dive into the stock market – this way, you can guarantee yourself some financial stability that can be beneficial in the long term!
The Best Stocks to Invest in 2024
Well, now we can dive straight into the fun part – which companies are set for even bigger growth in the coming year! We have done all the hard work, so you don’t need to look elsewhere for your next investment opportunities.
Electronic Arts
No one can overlook the significance of the gaming industry, and when speaking of it, one producer stands out — Electronic Arts (EA). It has been a leading game developer and publisher and has a very diverse portfolio of popular franchises, such as:
- FIFA
- It Takes Two
- Apex Legends
- Burnout Paradise
- Dead Space
- Dragon Age: Origins
- Mass Effects
All these games span across consoles, mobile phones and PC platforms, so we are talking about quite a robust revenue stream. Moreover, as you can imagine, EA is committed to innovation, so there is plenty of growth potential. The brand recognition and the market cap of $42 billion are sure to promise a lot!
Meta Platforms
We are all familiar with the work Meta, formerly Facebook, does. It remains one of the best tech stocks for 2024 due to its rich social media ecosystem that includes Facebook, Instagram, WhatsApp, and Messenger.
All these platforms bring Meta billions of users worldwide. In addition, it strives towards the metaverse and the AR, so no one can argue against its forward-thinking approach to the future of digital interaction.
With all that in mind, we can think of several reasons why investing in Meta is a good choice:
- Strong revenue streams from advertising
- Dominant presence and market cap of $837 billion
- Initiatives on grasping new technologies
Li Auto
Up next, we have Li Auto, Tesla’s biggest competitor in China. Just recently, the company introduced its first electric multipurpose vehicle – the seven-seat Li Mega, which is priced at around $84,000.
China’s automotive sector is evidently booming, so over the long term, we believe that Li Auto’s introduction of new and better vehicles will bode well for the Chinese EV market.
Another stat to back this claim is that a larger portion of the Chinese population has entered the middle class, so Li Auto’s cards will become highly sought after.
Alphabet
Moving on, we have Alphabet, the parent company of Google, which significantly raised its investment in generative AI. It focuses on Google Search and Cloud services, with the revenue at the end of 2023 reaching $76.7 billion.
As AI demand grows, Alphabet remains nicely priced, as the price-earnings ratio stands at 25 times. More so, the company’s new innovations in products, such as the Google AI chatbot, will inevitably present a good shareholder value.
Gambling Websites
Online casinos are the future of gambling; there is no escape from that fact. The sheer number of games, generous bonuses, payment methods and more mean that 2024 will be another year of significant growth for the biggest players in the industry.
Now, can you invest in these online casinos? Yup, but here’s the trick: you can only do it through companies that trade their stocks publicly. Check out companies like 888 Holdings, Betsson, and Flutter Entertainment – they’re the big shots in this game.
Of course, before investing in online casino stocks, you have to do thorough research on how the company performs financially, as well as the regulatory environment under which it operates.
Amazon
We finish this list with Amazon, another top tech stock company for 2024. It has very diversified business segments that see it dominate in the e-commerce world, cloud computing, and it even expanded into healthcare and entertainment.
This means that Amazon has a vast customer base that sees it as a leader in the markets it operates. The continued innovation and the resilient business model make it a great option for your investment in 2024!
Honourable Mentions
There are just too many companies to cover, and we evidently don’t have the space here to do that! That doesn’t mean we will forget about all giants to invest in, with other exciting stock options to invest in, including:
- Apple
- Nvidia
- Copart
- Gilead Sciences
- LAM Research
The Bottom Line
You will not be short of options if you seek to enter the investment world. Our list is completely based on the companies’ market trends, innovative approaches, and financial projections, so we believe you won’t do too much wrong with an investment there!
Lastly, it might be a good idea to spread investments across several companies and sectors to mitigate the risks that may come with the volatility of some industries.
Also Read: Global Investment Perspectives: Trends from Leading Stock Market Analysts
