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Halfway through January, investors are wondering what the most popular investments will be in 2024.
The best performing stock index in 2023 is Nikkei Stock Averagean increase of 30.1% and 590 basis points higher than before. S&P500. Coming in a distant third place was Stocks 50a gathering of 50 of Europe’s largest companies.
The three worst-performing indices in terms of returns in 2023 are: S&P China 500 (-12.5%), S&P GSCI (-12.2%) and WTI oil (-11.5%).
The investment hotspots of 2024 have yet to be found, so there is still time to find winners in the year ahead. Is it a bond? Probably small-cap stocks. The dominance of large-cap stocks may be ending. Large-cap stocks have been the best-performing asset class in three of the past five years. The time for comedown has come.
Where will all the money go in 2024? Here are three stocks that will get a lot of attention in the year ahead.
Nvidia (NVDA)
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Nvidia (NASDAQ:NVDA) is the king of artificial intelligence and is likely to become a trending stock over the next 12 months (A.I.) Castle.
On January 10, NVDA stock was the top U.S.-listed stock based on volume, with 29.01 million shares, defined as last price times volume divided by 1,000. This gave it a lead of over 7.5 million yen over second place. tesla (NASDAQ:TSLA).
While Nvidia CEO Jensen Wang expands the company’s AI efforts, Tesla’s board is concerned about Elon Musk’s possible drug use. In the process, a huge amount of free cash flow is generated.
NVDA stock closed at an all-time high of $546 on January 10 after Hwang’s company unveiled the GeForce RTX 4080 Super at the 2024 Consumer Electronics Show (CES) in Las Vegas.
Given the excitement surrounding Nvidia’s AI chips, there will be many days in 2024 when Nvidia’s price will surpass Tesla’s. That’s good news for shareholders.
Uber Technologies (UBER)
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Uber Technologies (New York Stock Exchange:Uber) was named one of Wells Fargo’s top stocks for 2024. The stock is expected to rise 143% in 2023, and Wells Fargo analyst Ken Gawrelski rates it Overweight with a price target of $64.
Uber was added to the S&P 500 in December. That’s always a catalyst for these lucky stocks. More important than the additional financial institutions buying their own stock is letting investors know that Uber has earned GAAP profits for at least four consecutive quarters, a key criterion for addition to the index. becomes.
As my colleague mentioned, increasing sales and EBITDA margins from 2024 onwards will lead the company to buy back one-fifth of its shares by 2026. Even if net income does not increase, EPS earnings will increase by 25% and the company’s profits will increase by 25%. Stock prices rose further.
In late December, I recommended Uber stock as one of three companies that would benefit from the urbanization movement in 2024.
My rationale centered around the Uber app and how much data the company has about its users. Uber plans to use that information to develop new products and services beyond ride-hailing and grocery delivery.
A natural extension of the ride-hailing business is the company’s valet car rental service, which delivers rental cars to your door in select cities across North America and the United Kingdom.
As I said in December, the possibilities are endless.
Walt Disney (DIS)
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Despite all the headwinds facing 2024; Walt Disney (New York Stock Exchange:DIS) is still in charge of its fate. If Bob Iger does his thing, Mickey Mouse and his friends will be making a lot of money in the next few years.
Disney stock remains exposed to significant disappointment, falling more than 7% over the past year and about 21% over the past 60 months. Those five-year numbers must be near the bottom of the S&P 500.
Perhaps the most important moment for Disney in 2023 was the 100th anniversary of the founding of the Walt Disney Company. Unfortunately, it was often overshadowed by poor box office results, actors and writers strikes, activist investor battles with Nelson Peltz, and further losses for the Disney+ streaming platform.
But there’s no question that the company has the best assets in entertainment, with its experiences business leading the way. The department plans to invest $60 billion over the next 10 years to keep people visiting resorts, theme parks and cruise ships.
2024 may be the year the rat roars.
On the date of publication, Will Ashworth did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing Guidelines.
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