2 Stocks to Buy Now That Will Make You Richer in 2024


Every investment contains an element of risk. Yet although there aren’t any sure things in the stock market, the following businesses offer their shareholders a high probability of success in the coming years.


People like bargains. That’s particularly true today, as consumers battle stubbornly high inflation. Walmart‘s (NYSE: WMT) low prices are attracting increasingly cost-conscious shoppers during these challenging economic times — and the discount retailer’s profits are swelling.

The retail giant’s massive scale — Walmart’s more than 10,500 stores generated a whopping $648 billion in revenue over the trailing 12 months — enables it to negotiate the best deals with suppliers. The company’s large selection of value-priced groceries and other household essentials entices customers to return often to its stores.

Moreover, Walmart’s profits are likely to grow faster than its sales. Smart investments in automation technology are making its sprawling fulfillment network more efficient. During a conference call with analysts, CFO John Rainey said the company’s cost of fulfillment improved by 20% over the last year. New investments in artificial intelligence (AI) and drone delivery technology should lead to further profitability gains.

Walmart has another powerful profit driver in its booming advertising business. In February, it struck a deal to acquire smart-TV maker Vizio for $2.3 billion. Walmart intends to integrate Vizio’s popular SmartCast operating system into its digital ad network. The deal is expected to boost the retail titan’s data-collection and ad-targeting abilities. Walmart’s high-margin ad sales are already growing rapidly, including a 28% jump to $3.4 billion in 2023.


We’ve entered the age of AI. The cutting-edge technology promises to bring enormous productivity gains to businesses of all sizes. Unsurprisingly, demand for the tools that enable AI is soaring.

These trends are a boon for Nvidia (NASDAQ: NVDA). The semiconductor colossus designs the chips that power the most advanced AI models and applications.

Tech leaders like Microsoft, Alphabet, Meta Platforms, and Tesla rely on Nvidia’s chips to deliver their AI services. The chipmaker’s sales and profits, in turn, are skyrocketing. Nvidia’s revenue leaped 126% to $61 billion in its fiscal year ended Jan. 28. Its adjusted net income, meanwhile, soared 286% to $32 billion. These are astounding rates of growth for a $2.2 trillion business.

CEO Jensen Huang expects sales of AI chips to remain strong in the coming years. Data center operators are projected to shift more of their spending to graphics processing units (GPUs) that excel at running AI workloads. To capture this demand, Nvidia unveiled a new line of powerful GPUs and AI chipsets during its eagerly awaited tech conference on March 18. The company’s Blackwell processors are expected to provide a notable performance boost and significant cost savings compared to its enormously popular Hopper chips.

Additionally, Nvidia debuted software designed to make it easier for its customers to run AI models across both cloud and on-premise data centers, as well as AI-enabled personal computers (PCs). These new software services could encourage companies to view the tech juggernaut more as a trusted AI platform rather than simply a hardware supplier and help to further differentiate Nvidia’s AI offerings from the competition.

Should you invest $1,000 in Nvidia right now?

Before you buy stock in Nvidia, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

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 tripled the return of S&P 500 since 2002*.

See the 10 stocks

*Stock Advisor returns as of March 21, 2024

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. Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Meta Platforms, Microsoft, Nvidia, Tesla, and Walmart. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

2 Stocks to Buy Now That Will Make You Richer in 2024 was originally published by The Motley Fool

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