Best Stocks to Buy in 2024 – Our Top Picks

One of the most popular investment avenues is the stock market. With solid returns and high dividends, investors are drawn towards growth stocks that are also the top market performers today. 2023 had been a difficult year for investors due to inflation and high interest-rate environment, but short-term ups and downs are common. However, many growth companies have made good profits and rewarded investors. Every year, a few companies emerge that become the hot picks, which look promising for long-term investment. 
However, it is not always about picking the cherry on top. Many small-caps and mid-caps stocks might not be shining today but have a long way to go. There are many companies in emerging industries, like fintech, electric vehicles, and renewable energy, which have seen a decline in the last few months, and investors must be careful about them in 2024. That said, there’s always an opportunity to be found. Let's look at some of the best stocks to buy in 2024.

Overview of the best stocks to buy in 2024

Company
Best for
Meta Platforms
Top social media stock for the decade
Apple Inc.
Solid cash reserve
The Walt Disney Co.
Consistent revenue growth
Alphabet Inc.
Retirement stock
Visa
Solid demand for Visa products
Amazon
Stock appreciation
Nvidia
Long-term buy and hold
Tesla
Best EV bet
Microsoft
Long-term growth potential

Best stocks of 2024

Meta Platforms Inc. (Facebook)

Meta Platforms, Facebook’s parent company, has had a wild ride in the past year. It saw massive growth in the advertising business throughout the year despite high inflation. Businesses started putting money into advertising, and this was followed by a huge upward momentum in the stock. But the company is going beyond that. They are entering a metaverse world, a digital space that will unite communication, work, and gaming. 
The company will be investing billions of dollars in this effort, and if it turns out to be successful, Meta will dominate the next few years. It can undoubtedly give the smartphone a run for its money. Besides metaverse, Facebook has a strong presence in the social media industry, which rakes in cash. It has given the firm a solid runway to expand and invest in emerging companies. 
The success of Facebook isn’t without controversies, but the long-term picture is clear. It has a long way to go, which means it will continue to generate solid returns for investors. 

Apple Inc. 

The most valuable company in the world, Apple is here to stay, and it is here to make money. The company is well known globally, developing, designing, and selling electronic devices. It has control over the hardware and software on the devices. The company is consistently growing and expanding its product base. 
The iPhone segment is its most significant contributor to earnings and revenue, but even the service segment is growing fast. I believe this blue-chip stock will continue to reward investors in 2024. It will soon release the Vision Pro augmented reality/ virtual reality device, and if it goes as planned, the company will show double-digit growth in earnings. It already has a considerable cash reserve. 
Apple is the first company to reach $3 trillion in market cap. The company has an impressive balance sheet and has returned significant cash to the shareholders yearly. It is one stock to buy and hold for the long term. 

The Walt Disney Company 

One of the most prestigious and popular brands globally, The Walt Disney Company has grown exponentially over the past 100 years. It went from a small animation studio to a large entertainment conglomerate. Disney+, a streaming platform, won 161.8 million subscribers in the first three years of its launch. 
I believe there will be a surge in subscribers over the years, which will benefit the company significantly. The company also has legacy businesses- the theme parks that have seen an uptick in the past few months, and if all goes well, it will continue in the coming year. The movie theater business might be slower to recover, but it will never go out of demand. It was one of the best dividend stocks to own earlier.
However, the company has resumed dividends starting this year. Even if the streaming business is making a loss, the legacy business will be here for many years to come. Disney has a lot working in its favor, and it owns firms that cater to all age groups and customer personalities, making it a top stock to hold for the year. 

Alphabet Inc. (Google)

Alphabet was formed after the restructuring of Google in 2015, and it has become a massive part of our lives. It is impossible to imagine life without Google today. Apart from Google Search Engine, several companies are under the umbrella of Alphabet Inc. The stock has become affordable for many investors, thanks to the stock split in 2022.  
The company generates significant revenue from its advertising services. The stock is priced at a premium but can grow in the coming year. It is also set to benefit from cloud services, and some of the most prominent organizations are using it. It is one stock resistant to inflation and offers a solid return. 

Visa Inc.

A leading payment technology company, Visa has become a familiar name today. The company is pursuing the network of networks strategy and aims to connect individuals and businesses across the globe. Despite high inflation and a high-interest rate environment in 2023, the stock has steadily increased.
Besides facilitating payments, Visa provides merchant clients with various platforms, products, and value-added services. The company has massive growth potential in electronic payments to expand the market. Visa has a solid balance sheet, and a recovery in personal travel over the coming years will lead to growth. The transition towards digital payments will continue to grow, pushing the EPS higher.

Amazon

I believe Amazon will hit new highs in 2024 and benefit investors for several reasons. From holiday sales to the Amazon Marketplace, the company has a lot working for it. Amazon remains the top stock for growth investors for its solid global presence and Amazon Web Services. 
If you always thought Amazon was overpriced, the stock split has made it affordable. AWS is the key that will take the company’s growth higher in the future, and the stock could be as high as $4,000. It is heavily expanding its services, and some of the biggest companies in the world are Amazon’s cloud service customers. 

Nvidia Corporation

Nvidia is one company that has its feet in every industry. Semiconductors are considered new oil, and Nvidia is a leader in the sector. I firmly believe it will continue to outperform in 2024. NVDA stock has delivered more than 67,000% returns since it went public in 1999. The company is firing on all cylinders and is one of today's top tech stocks. Nvidia will be the biggest beneficiary of the Artificial Intelligence boom as it has invested heavily in AI and is already making a mark across industries.
Looking under the hood, you will realize that the company's bright future justifies the premium share price. Nvidia is a part of several industries, including cloud computing, data centers, space exploration, electric vehicles, video gaming, 5G, autonomous driving, artificial intelligence, cryptocurrency e-commerce, big data, and more. 

Tesla Inc. 

Today, Tesla will continue to dominate the market as the top high-growth artificial intelligence company. Known for electric cars, Tesla has a niche of its own. It crowdsources the data from drivers and vehicles through cameras and sensors. This information is crucial, and the company uses the data for technology development. 
The vehicle analytics market has massive growth potential; the addressable market could be $750 billion this decade. Tesla is a wave that rides the stock market and has become a prominent name in the industry over the years. It also moved cryptocurrency prices by announcing that the company would accept Bitcoin as payment

Microsoft Corporation

One of the best tech stocks that promises solid returns in the long run is Microsoft. The stock is set for an explosive year of growth and has to be one of the safest stocks to invest in. This large cap has generated solid returns for investors over the years, and I believe it will continue to do so in the coming year. The company is investing heavily in Artificial Intelligence and has recently introduced Microsoft 365 Copilot, which makes it easier for you to perform day-to-day work activities.
Microsoft enjoys a substantial advantage, which allows it to attract more customers looking to move into the cloud. It has enjoyed stellar growth in the cloud-computing business, showing a 270% increase in the stock price over the past five years. The stock has ample room to run, making it the top choice for 2024. Remember, the move toward artificial intelligence and cloud computing has just begun. 

Best stocks summary

Company
Ticker
Market Value on January 10, 2024
Dividend Yield as of January 10, 2024
52-Week Low-High
Meta Platforms
FB
$357.43
None
$127-$368
Apple Inc.
AAPL
$185.14
0.52%
$128-$199
The Walt Disney Co.
DIS
$89.67
0.67%
$78-$118
Alphabet Inc.
GOOGL
$142.56
None
$86-$144
Visa
V
$263.33
0.79%
$208-$265
Amazon
AMZN
$151.37
None
$87-$155
Nvidia
NVDA
$531.40
0.030%
$154-$543
Tesla
TSLA
$234.96
None
$114-$299
Microsoft
MSFT
$375.79
0.80%
$227-$384

FAQs

Navigating the stock market can be confusing. These are some of the questions many investors want to be answered.
How do I buy stock when I don't have enough money for a share?
Do not worry if you do not have the money to buy the stock. You can consider fractional investing. This is where you will buy a fraction of the stock at the amount affordable to you. Several online brokers, including Robinhood, offer fractional investing. 
What is the easiest way to invest in stocks?
Stock market investing requires knowledge. If you understand the financials and can handle the investment yourself, you can simply open an account with a brokerage and begin investing in NYSE or NASDAQ. Alternatively, you can opt for a robo-investor who will make investment decisions based on your long-term goals and investment horizon. You can also consider investing in ETFs. 
How should I choose the stocks for investment?
Again, this will depend on your risk appetite, long-term goals, and the number of funds you have in hand. However, it is best to have a diversified portfolio. Do not put all the money into one stock. Try to diversify according to different companies and industries.
Where can I find other recommendations for stock picks?
The Motley Fool is one of our favorites with its Stock Advisor. The company has a history of outperforming the S&P. Even more than just giving you a pick, it explains valuation, dividend yields, company cash flow, and other fundamentals that made them choose the company they do, even if Wall Street doesn't have much interest.

The bottom line

Stock investment is a great way to make money. The solid returns, as well as consistent dividends, make them attractive to investors. On top of that, the interest rates offered by traditional investment avenues are low, which is why many people prefer investing in the stock market. No matter which company you choose to invest in, it is essential to remember that the market will show volatility from time to time. 
The highs and lows are a part of the market. Once the bear market cycle ends, the bull market will begin. Do not make investment decisions based on this cycle. 
Consider your investment criteria, long-term goals, and risk appetite when choosing the stocks to invest in. Investing in solid companies with a good history and generating returns over time is always better. 

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