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On Mon, 15 Jul, 4:04 PM UTC
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2024 Is Halfway Over. Here Are My Top 5 Stock Picks to End the Year | The Motley Fool
The market is still full of great picks despite a successful start to the investment year. With 2024 halfway done, many investors are assessing their portfolios to see how their picks have performed. While a six-month time span isn't enough to define success or failure in investing, it is a good chance for investors to examine their holdings to see if anything needs to be added. So, if you're looking to deploy some cash to increase your exposure in the market, starting with these five is a great idea. Alphabet (GOOG -0.28%) (GOOGL -0.27%) has had a strong year, up 35%. This rise is thanks to its strong advertising performance and the company finally getting its artificial intelligence (AI) product launches right. Alphabet has some serious momentum heading into the second half of the year, yet it doesn't carry a premium price tag. Unlike other big tech companies that trade for more than 30 times forward earnings, Alphabet commands a 25 times forward earnings premium. While that may not be historically cheap, it is inexpensive in today's market. With Alphabet's success and reasonable price tag, I'm confident Alphabet will continue to excel throughout the latter half of 2024. Similarly to Alphabet, Meta Platforms (META -2.70%) has had tremendous success with its advertising business. Meta is the parent company of social media platforms Facebook, Instagram, Threads, WhatsApp, and Messenger, and thrives on advertising. While 2023 wasn't a great year for advertising, 2024 has been phenomenal. In the first quarter, Meta's ad revenue was $35.6 billion, up 27% year over year. That strength is expected to continue throughout this year and bodes well for a company many wrote off a few years ago for shrinking profit margins. Like Alphabet, Meta isn't historically cheap, but it is less expensive than its peers at 26 times forward earnings. Even though Meta has also had a successful 2024 so far, I think it's poised for more upside to end the year. Taiwan Semiconductor Manufacturing (TSM 1.54%) is a backdoor way to play AI investing. TSMC is behind many of the chips powering the AI technological wave. It's also a major supplier for Apple (AAPL 1.30%), which may see a boost thanks to its new AI technology requiring new-generation phones. Additionally, Taiwan Semi's 3 nanometer chip production is ramping up, which will drive increased revenue for the business. Next-generation 2nm chips are slated to start production sometime in 2025, and the hype leading up to the launch could drive TSMC's stock higher. Although the stock is a bit pricey at 29 times forward earnings, I think it could go higher as the demand for AI-related chips picks up. MercadoLibre (MELI 3.08%) is often called the Amazon of Latin America due to its e-commerce business and logistics network. However, it also has a thriving fintech wing. MercadoLibre's business has been on fire lately, with its Q1 results delivering 94% year-over-year revenue growth on a currency-neutral basis. MercadoLibre's profit margins have also been ticking up. In Q1 2023, it was 6.3%. In 2024, that figure rose to 7.9%. As MercadoLibre's margins continue to rise, its valuation will start to normalize, but until then, using a price-to-sales (P/S) ratio is smarter. At 5.5 times sales, MercadoLibre is still well below where it has traded for most of the past decade. If the market wakes up and realizes this, MercadoLibre stock could easily rocket higher to end the year. Lastly is Salesforce (CRM 1.14%). Salesforce is the leader in the customer relationship management software space but hit a bump with its earnings report for the first quarter of its fiscal year 2025 (ended April 30). Although it kept its full-year revenue guidance at the same level (8% to 9% growth), its Q2 growth is only expected to be between 7% and 8%. That's slower than investors want to see, and the stock got shelled because of it, losing about 20% of its value the following trading day. That's a massive overreaction, considering that the full-year guidance stayed the same. While the stock has partially recovered since that tumble, Salesforce still looks attractive because its profit margins have room for expansion. This is reflected in Salesforce's guidance for operating cash flow growth of 21% to 24% for the full year. Although it's not as cheap as it once was, Salesforce still makes for an excellent buy right now.
[2]
2024 Is Halfway Over. Here Are My Top 5 Stock Picks to End the Year
With 2024 halfway done, many investors are assessing their portfolios to see how their picks have performed. While a six-month time span isn't enough to define success or failure in investing, it is a good chance for investors to examine their holdings to see if anything needs to be added. So, if you're looking to deploy some cash to increase your exposure in the market, starting with these five is a great idea. 1. Alphabet Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has had a strong year, up 35%. This rise is thanks to its strong advertising performance and the company finally getting its artificial intelligence (AI) product launches right. Alphabet has some serious momentum heading into the second half of the year, yet it doesn't carry a premium price tag. Unlike other big tech companies that trade for more than 30 times forward earnings, Alphabet commands a 25 times forward earnings premium. While that may not be historically cheap, it is inexpensive in today's market. With Alphabet's success and reasonable price tag, I'm confident Alphabet will continue to excel throughout the latter half of 2024. 2. Meta Platforms Similarly to Alphabet, Meta Platforms (NASDAQ: META) has had tremendous success with its advertising business. Meta is the parent company of social media platforms Facebook, Instagram, Threads, WhatsApp, and Messenger, and thrives on advertising. While 2023 wasn't a great year for advertising, 2024 has been phenomenal. In the first quarter, Meta's ad revenue was $35.6 billion, up 27% year over year. That strength is expected to continue throughout this year and bodes well for a company many wrote off a few years ago for shrinking profit margins. META Profit Margin (Quarterly) data by YCharts Like Alphabet, Meta isn't historically cheap, but it is less expensive than its peers at 26 times forward earnings. Even though Meta has also had a successful 2024 so far, I think it's poised for more upside to end the year. 3. Taiwan Semiconductor Taiwan Semiconductor Manufacturing (NYSE: TSM) is a backdoor way to play AI investing. TSMC is behind many of the chips powering the AI technological wave. It's also a major supplier for Apple (NASDAQ: AAPL), which may see a boost thanks to its new AI technology requiring new-generation phones. Additionally, Taiwan Semi's 3 nanometer chip production is ramping up, which will drive increased revenue for the business. Next-generation 2nm chips are slated to start production sometime in 2025, and the hype leading up to the launch could drive TSMC's stock higher. Although the stock is a bit pricey at 29 times forward earnings, I think it could go higher as the demand for AI-related chips picks up. 4. MercadoLibre MercadoLibre (NASDAQ: MELI) is often called the Amazon of Latin America due to its e-commerce business and logistics network. However, it also has a thriving fintech wing. MercadoLibre's business has been on fire lately, with its Q1 results delivering 94% year-over-year revenue growth on a currency-neutral basis. MercadoLibre's profit margins have also been ticking up. In Q1 2023, it was 6.3%. In 2024, that figure rose to 7.9%. As MercadoLibre's margins continue to rise, its valuation will start to normalize, but until then, using a price-to-sales (P/S) ratio is smarter. MELI PS Ratio data by YCharts At 5.5 times sales, MercadoLibre is still well below where it has traded for most of the past decade. If the market wakes up and realizes this, MercadoLibre stock could easily rocket higher to end the year. 5. Salesforce Lastly is Salesforce (NYSE: CRM). Salesforce is the leader in the customer relationship management software space but hit a bump with its earnings report for the first quarter of its fiscal year 2025 (ended April 30). Although it kept its full-year revenue guidance at the same level (8% to 9% growth), its Q2 growth is only expected to be between 7% and 8%. That's slower than investors want to see, and the stock got shelled because of it, losing about 20% of its value the following trading day. That's a massive overreaction, considering that the full-year guidance stayed the same. While the stock has partially recovered since that tumble, Salesforce still looks attractive because its profit margins have room for expansion. This is reflected in Salesforce's guidance for operating cash flow growth of 21% to 24% for the full year. Although it's not as cheap as it once was, Salesforce still makes for an excellent buy right now. The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Alphabet wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $791,929!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet, Amazon, MercadoLibre, Meta Platforms, Salesforce, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, MercadoLibre, Meta Platforms, Salesforce, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As 2024 reaches its midpoint, investors are reassessing their portfolios. This article examines the top 5 stock picks recommended by market analysts for the second half of the year, considering current market trends and company performances.
As we cross the halfway point of 2024, the stock market continues to present both challenges and opportunities for investors. With global economic factors, technological advancements, and shifting consumer behaviors influencing market trends, analysts are carefully evaluating which stocks show the most promise for the remainder of the year 1.
Amazon remains a top pick due to its dominant position in e-commerce and cloud computing. The company's continued investment in artificial intelligence and expansion of its AWS services are expected to drive growth. Analysts cite Amazon's diverse revenue streams and strong market position as key factors for its inclusion in the list 2.
Nvidia's leadership in GPU technology and its pivotal role in AI development make it a standout choice. The company's chips are crucial for data centers, gaming, and emerging technologies like autonomous vehicles. The ongoing AI boom is expected to continue benefiting Nvidia's bottom line 1.
Microsoft's strong performance in cloud services through Azure, coupled with its strategic investments in AI, positions it well for the second half of 2024. The company's diverse product portfolio, including Office 365 and gaming division, provides multiple avenues for growth 2.
Google's parent company, Alphabet, makes the list due to its dominance in online advertising and significant strides in AI technology. The company's Google Cloud platform continues to gain market share, while its investments in autonomous driving technology through Waymo show promise for future growth 1.
Despite facing increased competition in the electric vehicle market, Tesla remains a top pick for many analysts. The company's leadership in EV technology, expanding production capacity, and forays into energy storage solutions contribute to its strong position. Tesla's ability to innovate and adapt to market demands keeps it at the forefront of the automotive industry's electrification trend 2.
Analysts consider several factors when making these recommendations, including:
As always, investors are advised to conduct their own research and consider their individual financial goals and risk tolerance when making investment decisions. The stock market's performance in the latter half of 2024 will likely be influenced by various global economic factors, policy changes, and technological advancements.
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Major tech companies, including Amazon, Alphabet, and Meta Platforms, have seen significant stock rallies in the first half of 2024. Alphabet is now on track to potentially join the exclusive $3 trillion market cap club, currently occupied by tech behemoths like Apple, Microsoft, and Nvidia.
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Investors looking to build wealth in 2024 and beyond should consider two standout stocks: Nvidia and Amazon. These tech giants offer strong growth potential and are well-positioned for long-term success in their respective markets.
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Analysts recommend several tech stocks for investors looking to capitalize on long-term growth opportunities in the technology sector. These companies show strong potential in areas such as artificial intelligence, cloud computing, and digital advertising.
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As the AI revolution continues to reshape the tech industry, companies like Nvidia, AMD, Amazon, and others are positioning themselves for significant growth in 2025, driven by advancements in AI hardware, cloud computing, and data center expansion.
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Financial experts highlight promising stocks for 2024, focusing on companies with strong growth potential and market dominance. Amazon and Nvidia emerge as top picks for investors looking to build wealth in the coming year.
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