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Stellar Stocks Set to Spark Jealousy Amongst Your Peers

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March brings with it a tantalizing lineup of stocks that are poised to make your friends green with envy. These gems boast boundless growth opportunities and steadfast fundamentals that position them for potential market outperformance.

Handpicked for their innovative business models, groundbreaking technologies, and ability to capitalize on emerging trends, these stocks are Wall Street darlings, with most carrying a consensus rating of β€œBuy” or better.

While tech stocks have dominated the market, as evidenced by the Nasdaq surge, I believe that this year will prove fruitful for other sectors as well. Many tech giants, like Nvidia (NASDAQ: NVDA), have seen their valuations soar, potentially leading investors to explore new avenues for growth.

Without further ado, here are seven stocks that are bound to leave your friends secretly envious of your investment prowess. Make sure not to overlook these opportunities.

The Resilient Rise of Broadcom (AVGO)

Broadcom Stock Is a Winner With Big Upside Potential

Source: Shutterstock

Broadcom (NASDAQ: AVGO) has carved a niche for itself in semiconductor and software solutions.

My conviction in AVGO stems from the escalating migration of businesses to the cloud and the surging demand for cloud services. As such, the need for its advanced networking chips and storage solutions is expected to soar.

AVGO impressed with its Q1 fiscal year 2024 results, boasting a revenue of $11.96 billion, reflecting a remarkable 34% year-over-year increase. This growth can be largely attributed to the acquisition of VMware. The company reported a GAAP net income of $1.33 billion and a significant non-GAAP net income of $5.25 billion. AVGO’s optimistic revenue guidance for fiscal year 2024 stands at around $50.0 billion, a 40% uptick from the previous year. This strategic growth plan, driven by the integration of VMware, positions AVGO as a stock that is sure to evoke envy.

The Ascendancy of Micron Technology (MU)

An outside image of a Micron Technology, Inc. headquarters. MU stock. momentum stocks to buy soon

Source: Charles Knowles / Shutterstock.com

Micron Technology (NASDAQ: MU) specializes in memory and storage solutions, a sector where it has displayed impressive results in the short term.

In the first quarter of fiscal 2024, MU reported a revenue of $4.73 billion, showing growth from both the previous quarter and the corresponding period last year. Bolstered by strong execution and pricing, the company’s President and CEO, Sanjay Mehrotra, foresees an improvement in business fundamentals throughout 2024. The outlook for 2025 is promising, with a record industry total addressable market on the horizon. For the second quarter of 2024, MU has forecasted a revenue of $5.30 billion, along with substantial growth in revenue and earnings by fiscal 2026. These robust projections firmly place MU among the top stock picks for savvy investors.

The Evolution of Netflix (NFLX)

Netflix (NFLX) logo displayed on smartphone on top of pile of money.

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Netflix (NASDAQ: NFLX) has continuously pushed the boundaries with its expansive content library and forays into new growth avenues.

Exploring ad-supported video on demand (AVOD) and incremental subscription video on demand (SVOD) memberships, NFLX is poised for exponential growth. Analysts project that NFLX could reach over $40 billion in revenue by 2024, augmented by a $6-7 billion boost from AVOD and additional SVOD memberships. With ventures into live sports entertainment, such as the rights to broadcast WWE’s Monday Night Raw, NFLX’s forecasted earnings growth of 22.57% further solidifies its robust financial outlook. The company’s strategic decision to tackle password sharing head-on suggests a future teeming with untapped potential that has yet to be factored into its valuation.

The Promise of Pfizer (PFE)

blue Pfizer logo on the windows of a corporate building PFR stock

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Pfizer (NYSE: PFE) is attracting attention from analysts due to its solid dividend yield and growth prospects.

PFE anticipates full-year 2024 revenues to range between $58.5 and $61.5 billion, bolstered by contributions from COVID-19 vaccines and treatments, including Comirnaty and Paxlovid, and the acquisition of Seagen. Excluding these revenues, PFE aims for a 3% to 5% operational revenue growth. Investors may find the current dip in PFE’s revenues a strategic entry point, especially amidst a challenging market environment. With a dividend yield of 6.07% and a dividend growth rate of 2.48%, PFE presents a compelling investment opportunity in the medical and biotech sectors, blending income potential with capital appreciation.

The Triumph of Match Group (MTCH)

MTCH stock: the Match group logo on a computer screen with a phone displaying its site

Source: T. Schneider / Shutterstock

Match Group (NASDAQ: MTCH), leveraging AI to enhance user experiences on dating apps like Tinder and Hinge, is currently a hot commodity in the market.

In Q4 2023, MTCH witnessed a 10% year-over-year increase in total revenue, reaching $866 million. Operating income spiked by 144% year-over-year, totaling $260 million. Notable highlights include a substantial 17% rise in revenue per payer (RPP), hitting $18.67. Bolstered by strong cash flow metrics and a new $1 billion share repurchase program, MTCH holds a positive outlook for 2024, projecting a total revenue growth of 6% to 9%. As an underappreciated growth stock, MTCH unveils intriguing prospects that investors should not overlook.

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