What stocks will double 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.
Stock | 2024 performance through Feb. 29 |
---|---|
Nature Wood Group Ltd. (NWGL) | 140.9% |
Sana Biotechnology Inc. (SANA) | 146.1% |
Super Micro Computer Inc. (SMCI) | 204.7% |
Vera Therapeutics Inc. (VERA) | 206.1% |
- Shopify. Shopify has more than doubled investors' money in the past five years, and that is no guarantee it will do so again. ...
- Axsome Therapeutics. Over the past five years, Axsome Therapeutics has seen steady clinical progress on multiple fronts.
S.No. | Name | P/E |
---|---|---|
4. | Waaree Renewab. | 139.18 |
5. | Network People | 116.42 |
6. | Cupid | 130.53 |
7. | GE T&D India | 266.37 |
S.No. | Name | CMP Rs. |
---|---|---|
2. | Rama Steel Tubes | 40.25 |
3. | Easy Trip Plann. | 46.35 |
4. | Radhika Jeweltec | 61.70 |
5. | KMC Speciality | 86.18 |
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.
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.
Stock | Forward price-to-earnings ratio (P/E) |
---|---|
Costco Wholesale Corp. (COST) | 40.0 |
CrowdStrike Holdings Inc. (CRWD) | 73.8 |
Enphase Energy Inc. (ENPH) | 25.3 |
Microsoft Corp. (MSFT) | 30.0 |
Stock Name | Sub-sector | Market Cap (in Cr) |
---|---|---|
Titan Company Ltd | Textiles, Apparel & Luxury Goods | ₹3,28,263 |
Varun Beverages Ltd | Beverages | ₹1,66,364 |
Cholamandalam Investment and Finance Company Ltd | Financials | ₹99,434 |
Tube Investments of India Ltd | Consumer Discretionary | ₹75,379 |
But by examining historical data, we can make an educated guess. According to Standard and Poor's, the average annualized return of the S&P index, which later became the S&P 500, from 1926 to 2020 was 10%. 1 At 10%, you could double your initial investment every seven years (72 divided by 10).
How long will it take $1000 to double at 6 interest?
So, if the interest rate is 6%, you would divide 72 by 6 to get 12. This means that the investment will take about 12 years to double with a 6% fixed annual interest rate.
Insiders may be liable to the Company under Section 16(b) of the Securities Exchange Act of 1934, as amended, for any “profit” realized as a result of any purchase followed by a sale, or sale followed by a purchase, of the Company's stock within any period of less than six months.
S.No. | Name | CMP Rs. |
---|---|---|
1. | Kesar India | 3908.55 |
2. | Sical Logistics | 204.25 |
3. | SG Mart | 524.90 |
4. | Jai Balaji Inds. | 1249.95 |
Company | Industry |
---|---|
Reliance Industries | Conglomerate |
Bajaj Finance | Financial Services |
Larsen & Toubro | Engineering and Construction |
ITC | Tobacco and FMCG |
Amazon's analyst rating consensus is a Strong Buy. This is based on the ratings of 41 Wall Streets Analysts.
S.No. | Name | CMP Rs. |
---|---|---|
1. | Ksolves India | 1236.65 |
2. | Life Insurance | 1010.30 |
3. | Remedium Life | 115.70 |
4. | Tips Industries | 485.30 |
Some of the best stocks to invest in 2024 for beginners include Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), and Mastercard Incorporated (NYSE:MA). For this list, we used a stock screener and selected stable companies with high single digit or low-teens revenue growth.
For now at least, analysts are anticipating S&P 500 earnings growth will continue to accelerate in the first half of 2024. Analysts project S&P 500 earnings will grow 3.9% year-over-year in the first quarter and another 9% in the second quarter.
TSLA Stock Forecast FAQ
Tesla has 17.47% upside potential, based on the analysts' average price target. Is TSLA a Buy, Sell or Hold? Tesla has a conensus rating of Hold which is based on 11 buy ratings, 19 hold ratings and 5 sell ratings.
S.No. | Name | CMP Rs. |
---|---|---|
1. | Guj. Themis Bio. | 359.75 |
2. | Refex Industries | 628.90 |
3. | Tanla Platforms | 947.45 |
4. | M K Exim India | 76.70 |
What are the two riskiest investments?
- Cryptoassets (also known as cryptos)
- Mini-bonds (sometimes called high interest return bonds)
- Land banking.
- Contracts for Difference (CFDs)
Symbol | Name | % Change |
---|---|---|
HPE | Hewlett Packard Enterprise Company | +5.54% |
TCBI | Texas Capital Bancshares, Inc. | +5.38% |
SFNC | Simmons First National Corporation | +5.32% |
CFG | Citizens Financial Group, Inc. | +5.23% |
- Pay off high-interest debt. ...
- Build an emergency fund. ...
- Invest in yourself. ...
- Get your 401(k) match. ...
- Max out your IRA. ...
- Contribute to your HSA. ...
- Invest through a self-directed brokerage account. ...
- Build a CD ladder.
And that might be bad news for the Magnificent Seven stocks—Microsoft, Meta Platforms, Alphabet, Amazon.com, Nvidia, Apple, and Tesla—if he eventually becomes president.
Company (Ticker) | Forward P/E Ratio |
---|---|
Humana (HUM) | 13.9 |
Fidelity National Information Services (FIS) | 13.4 |
Citigroup (C) | 8.0 |
Lear (LEA) | 7.7 |
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