What is the hottest stock in 2023?
Coinbase, Nvidia, Palantir, and other tech names dominate the list of the year's best stocks. Amid a strong stock market rally in 2023, Coinbase COIN performed best among U.S.-listed stocks covered by Morningstar analysts, as the cryptocurrency exchange platform rebounded from a steep downturn in 2022.
Coinbase, Nvidia, Palantir, and other tech names dominate the list of the year's best stocks. Amid a strong stock market rally in 2023, Coinbase COIN performed best among U.S.-listed stocks covered by Morningstar analysts, as the cryptocurrency exchange platform rebounded from a steep downturn in 2022.
- Popular Stocks.
- HDFC Bank.
- ICICI Bank.
- SBI Life.
- TCS.
- Titan.
- Tata Consumer.
- UPL.
One way to see which growth stocks are worth their salt is to see their performance in 2024 so far in response to the shifting economic environment. Today we've done just this and the top growth stocks of January 2024 are NVIDIA Corporation (NASDAQ:NVDA), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Netflix, Inc.
| Company | YTD returns (%) |
|---|---|
| Aurionpro Solutions | 478 478 478 |
| Titagarh Railsystems | 376 376 376 |
| Jindal Saw | 321 321 321 |
| Inox Wind | 278 278 278 |
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Guj. Themis Bio. | 341.45 |
| 2. | Refex Industries | 602.25 |
| 3. | Tanla Platforms | 991.45 |
| 4. | M K Exim India | 77.27 |
| STOCK | ACTION | TRADE PRICE |
|---|---|---|
| MASTEK | BUY | 3092 |
| HDFCAMC | BUY | 3875 |
| TRENT | BUY | 4025 |
| RAYMOND | BUY | 1770 |
Like DraftKings Inc. (NASDAQ:DKNG), NVIDIA Corporation (NASDAQ:NVDA) and Bit Digital, Inc. (NASDAQ:BTBT), DUOL is one of the best-performing growth stocks in 2023. Click to continue reading and see 5 Best-Performing Growth Stocks in 2023.
- Reliance Industries Limited (RIL)
- HDFC Bank Limited.
- Infosys Limited.
- Titan Company Limited.
- Larsen and Toubro Limited.
- Asian Paints Limited.
- TCS (Tata Consultancy Services) Limited.
- Bajaj Finance Limited.
However, the surge in investor interest in 'Mag 7' members Alphabet (GOOGL; GOOG), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA) is not without risk. "The Mag 7's rise has left the S&P 500 at around its most concentrated in at least the last 100 years.
What are the Big 7 stocks?
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. The Magnificent Seven stocks are among the best stocks to buy and watch in the stock market today.
Envy of the other 493 stocks in the S&P 500, the so-called Magnificent Seven—including Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia and Tesla—wears extraordinary stripes.
Albemarle (NYSE:ALB) stock has all the potential in the world to double in 2024. In fact, ALB shares are forecast to more than triple based on the high analyst target price given on Wall Street.
| Company | Performance (Year) |
|---|---|
| Uber Technologies Inc (UBER) | 110.94% |
| Broadcom Inc (AVGO) | 107.88% |
| Arista Networks Inc (ANET) | 106.85% |
| Advanced Micro Devices Inc. (AMD) | 103.39% |
| Company (ticker) | 5-Year Avg. Yearly EPS Forecast |
|---|---|
| Yelp Inc. (YELP) | 29.0% |
| Skechers U.S.A., Inc. (SKX) | 27.3% |
| T-Mobile US, Inc. (TMUS) | 26.9% |
| Meta Platforms, Inc. (META) | 24.2% |
- Nvidia: 239% -- technology.
- Meta Platforms: 194% -- communications services.
- Royal Caribbean: 162% -- consumer discretionary.
- Builders FirstSource: 157% -- industrials.
- Uber: 149% -- industrials.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Sical Logistics | 261.70 |
| 2. | SG Mart | 11258.35 |
| 3. | Jai Balaji Inds. | 959.90 |
| 4. | Giriraj Civil | 631.45 |
Some Analysts Expect NIO Stock to Double in 2024
Even NIO's mean target price of $12.30 is a premium of 65% from here, while the Street-high target of $19.20 - from Citi - implies an expected upside of 157%. Several factors should support a rally in NIO stock in 2024.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 3. | Jai Balaji Inds. | 959.90 |
| 4. | Giriraj Civil | 631.45 |
| 5. | Network People | 1410.00 |
| 6. | Unitech | 16.05 |
| 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 |
Is 2023 a bad year to invest in stocks?
The final quarterly and annual numbers for 2023 were exceptionally good. They translate into substantial annual gains for millions of investors who hold stocks and bonds indirectly, through mutual funds, exchange-traded funds and trusts, often in workplace retirement accounts.
| Symbol | Name | Price (Intraday) |
|---|---|---|
| TSLA | Tesla, Inc. | 200.89 |
| IMGN | ImmunoGen, Inc. | 31.23 |
| MARA | Marathon Digital Holdings, Inc. | 27.30 |
| PLTR | Palantir Technologies Inc. | 24.87 |
- Delta Air Lines, Inc. (NYSE:DAL) ...
- Raytheon Technologies Corporation (NYSE:RTX) Number of Hedge Fund Holders: 51. ...
- Lockheed Martin Corporation (NYSE:LMT) ...
- Amgen, Inc. ...
- Starbucks Corporation (NASDAQ:SBUX) ...
- Occidental Petroleum Corporation (NYSE:OXY)
The highest analyst price target is $230.00 ,the lowest forecast is $175.00. The average price target represents 22.77% Increase from the current price of $169.51. Amazon's analyst rating consensus is a Strong Buy. This is based on the ratings of 40 Wall Streets Analysts.
Walmart has 4.49% upside potential, based on the analysts' average price target. Is WMT a Buy, Sell or Hold? Walmart has a conensus rating of Strong Buy which is based on 21 buy ratings, 4 hold ratings and 0 sell ratings.
