During the analysis of stock market indices, Nasdaq-100 commonly coincides with S&P50 and DOW J. This article explores the importance of Nasdaq-100, explaining why it is Tesla, Broadcom and Honeywell International that are among top stocks to take into consideration within 2024.
Stock Market, Nasdaq-100: Behind the Typically Implicated
Although the talk of S&P500 Nasdaq composite And Dow jones presents market indices, nasdaqs-1 first look gives a different view. It is made of the leading 100 companies on Nasdaq and owns more than 90% of Nasdaq Composite, which makes it an attractive subsol for large-cap growth stocks.
Tesla: Pathbreaker of High Growth in EV Market
Lee Samaha (Tesla): The EV market is still growing with a 49% sales growth for the first nine months of fiscal year ending in September. Tesla holding an impressive 56% market share serves to be a harbinger of sustainable high growth for this industry. Tesla’s investments in robotaxis and new models beyond its current dominance, position it strongly for future market expansion.
Broadcom: AI Investment Intelligence
Scott Levine (Broadcom): In the world of semiconductors and artificial intelligence (AI), Nvidia is usually in focus. But the fourth-largest Nasdaq-100 stock, Broadcom is bigger. Its emphasis on AI is manifest in high-speed Ethernet switches and AIs accelerators to match the industry’s needs. It is a smart investment in the AI ecosystem given that revenue growth estimates for 2024 forecast an increase of at least forty percent over prior year.
Honeywell International: Unleashing Explosive Potential
Daniel Foelber (Honeywell): Realising that a strategic change is required, Honeywell plans to reposition the business with three megatrends: automation; aviation of future and energy transition. Although currently regarded as a low-growth company, Honeywell’s move into IIoT is promising. With a vision for higher margins and a long-term organic growth goal of 4% to 7%, Honeywell emerges as a transformative investment with explosive potential.
Unstoppable in Pharmaceuticals: Exploring 2024’s Market Beaters
The Motley Fool contributors identify three pharmaceutical stocks with promising growth potential.
Eli Lilly: Leading with Zepbound in Chronic Weight Management
Keith Speights: Eli Lilly’s remarkable performance, with shares soaring close to 80% in the last 12 months, positions it as a market leader. The FDA’s approval of Zepbound for chronic weight management has the potential to make it the biggest-selling drug in pharmaceutical history. With additional growth drivers like newer cancer drugs, Eli Lilly remains a market powerhouse.
Novo Nordisk: Injecting Growth with Wegovy
David Jagielski: Novo Nordisk’s robust growth in 2023, with shares up nearly 53%, sets the stage for another stellar year. The global rollout of injectable weight-loss drug Wegovy, coupled with ongoing innovation in pill form, solidifies Novo Nordisk’s position as a global market leader. With impressive sales and profit growth, 2024 holds further promise for the company.
Vertex Pharmaceuticals: An Unstoppable Force in Rare Diseases
Prosper Junior Bakiny: Vertex Pharmaceuticals’ decade-long outperformance in the pharmaceutical market showcases its unstoppable nature. A dominant player in addressing the underlying causes of cystic fibrosis, Vertex expands its portfolio with innovative gene-editing treatment Casgevy. With a pipeline poised for key approvals, Vertex Pharmaceuticals stands as an unstoppable market beater.
As investors navigate the Nasdaq-100 landscape in 2024, Tesla, Broadcom, Honeywell International, Eli Lilly, Novo Nordisk, and Vertex Pharmaceuticals emerge as compelling choices. Whether driven by technological innovation or groundbreaking pharmaceuticals, these stocks showcase diverse opportunities for investors seeking growth and market resilience.
The content presented in this article is for informational purposes only and does not constitute financial advice. Investors are strongly advised to engage in comprehensive research and seek guidance from financial professionals before making any investment decisions. It is crucial to make informed choices based on individual financial goals, risk tolerance, and market conditions.