The Best Growth Stocks for 2024 & Beyond 🚀

The Best Growth Stocks for 2024

2024 may be a very exciting year for growth stocks, especially in many salient themes like cybersecurity, artificial intelligence, electric vehicles, gaming development, and other industries.

This report will cover five solid growth stocks that provide exposure to some of these industries. Many of these stocks have experienced a significant pullback from previous highs, which could make 2024 a solid entry point.

The Outlook for Growth in 2024

Last year was solid for growth stocks, as they outperformed value stocks by over 30 percentage points last year. The Vanguard Growth Index Fund Shares ETF (VUG) has returned nearly 40% in the past 12 months, as many people have begun developing renewed confidence in growth stocks.

Some macro risks have potentially begun to abate, which could improve the outlook for select growth stocks in 2024. Inflation has come down from the 2022 peak, and Central Banks may be able to cut rates later in 2024. However, selective shopping may still be ideal, as risks could linger in 2024, and we are likely quarters away from rate cuts

As we progress through 2024, it could be an excellent time to accumulate growth stocks, as valuation levels are currently more favorable compared to previous years.

Many companies are trading at attractive levels and still delivering respectable growth. Companies that have been able to turn the corner and begin operating profitability and generating free cash flow may be better positioned to weather any economic challenges that potentially occur.

This report will focus on a handful of companies that provide exposure to salient growth investment themes. These themes include artificial intelligence, cybersecurity, the Internet of Things (IoT), electric vehicles, and other high-growth industries.

Moreover, these companies have had stable financial performance, which could help them shine during any macro setbacks that might occur in subsequent years.

Here’s are our top picks for this year.

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