3 Stocks that Everyone Wishes They Found in Their Stocking
Christmas seems incomplete without the tree, stockings, and presents. However, as we grow up, our preference for presents changes, and as we gain financial stability, the best present we can receive is something that will grow in value over the years. With the economy finally showing signs of improvement, it’s time to make your money work for you. If you are investing for the long-term or want to leave a legacy for your grandkids, here are the three hot stocks anyone would wish they found in their stocking.
Let’s take a look at them.
Microsoft (MSFT)
One of the top hot stocks to put your money in is Microsoft (NASDAQ:MSFT). The tech dinosaur is growing at a significant pace, and it is also a dividend-paying stock. It is set to make the most of Artificial Intelligence and has invested in OpenAI.
The company has put over $13 billion into the AI startup and has also integrated ChatGPT into all of its products. It expects to see returns on this investment starting in 2024, and I believe this is when the stock will hit a new high. Microsoft was once known for its gaming business, and its acquisition of Activision Blizzard has also put it in a dominant position in the industry today.
The company does not limit itself to AI and has shown tremendous growth over the years. Trading at $371, the stock is near its 52-week high of $384 and is up 56% year to date. However, it has generated over 250% returns in the past five years.
Today, Microsoft is one of the best stocks to add to your portfolio and it could have a solid 2024. It has a dividend yield of 0.80% and pays a quarterly dividend of $0.75.
Nvidia (NVDA)
Anyone would be happy to find hot stocks like Nvidia (NASDAQ:NVDA) in their stockings this Christmas. It is one of the most popular stocks of 2023, and is the best AI stock to own. While NVDA has shown a little slowdown at the moment, it could hit new highs over the next few months. One of the biggest beneficiaries of the AI boom, Nvidia is the center of the tech sector.
The demand for its H100 chips is only growing stronger and several clients are opting to wait for weeks to get the AI chips. Once known for setting the gold standard in GPUs, Nvidia has become all about AI today, and it has reported impressive financials in the past three quarters, beating expectations steadily.
It has already sold more than half a million chips and it is anticipated that it will keep selling more in the months to come. The company has already announced that its H200 chip will be better than the current one.
NVDA stock is exchanging hands for $488 today and is up 241% year to date. Do not wait for the stock to drop because that may not happen anytime soon.
Amazon (AMZN)
The e-commerce giant Amazon (NASDAQ:AMZN) is one of my top stocks to own right now. Amazon is set to benefit from the holiday shopping and could continue moving higher in 2024. It is not limited to products anymore and has become one place where you can find anything you want to buy.
It plans to start selling vehicles online starting next year. The company has a strong balance sheet, and its Amazon Web Services is a rapidly growing segment. The adoption of AI will help the company strengthen the Amazon Web Services segment, and we could see it contribute more to the total revenue.
The tech giant has soared 78% year to date and is exchanging hands for $153 today. While it is trading at the 52-week high, the stock has a lot more to come. It was at its peak during the pandemic, saw a disappointing 2022, and has rebounded in 2023. I believe 2024 could be the best year for Amazon.
It has seen significant growth in International markets, and the fundamentals are only getting stronger. This is one stock to buy and hold for the years to come. Amazon has been around for a while and it is not going anywhere anytime soon.
On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
