To put it mildly, the US markets have had a very volatile year thus far. It is not unexpected that the majority of investors are concerned about the status of the markets and their investments inside them given the increasing economic pressures, labour disputes, bank failures, and geopolitical concerns. Many investors are also keeping an eye out for the implications of future rate rises by the Federal Reserve for the markets and the economy as the year comes to an end.
JPMorgan Asset Management’s global market strategist, Meera Pandit, spoke on CNBC’s “Squawk Box” on October 23 to talk about rate rises. Here are a few of his remarks about the issue:
Pandit said that we could see a rate rise in December in response to a question about whether she believes there would be another one this year. In light of the aforementioned, US investors in particular might be curious in the top US stocks to purchase in 2024.
It’s reasonable to assume that a small percentage of investors and financial experts anticipate the Fed raising interest rates one more time before the year ends. Given their recent performance, US tech companies are now among the greatest American stocks to purchase, as anyone who has been closely monitoring the US markets throughout the year will be able to see. Senior analyst at Rosenblatt Securities Barton Crockett spoke on CNBC’s “Squawk Box” on October 23 to talk about large tech results and stocks that may be purchased before the figures are announced. He talked about a few stocks that he thinks are names you should acquire right now:
As we approach the end of the year, investors are naturally drawn to tech stocks like the ones mentioned above and Apple Inc. (NASDAQ:AAPL). However, other significant American stocks, such as UnitedHealth Group Incorporated (NYSE:UNH) and Berkshire Hathaway Inc. (NYSE:BRK-B), may also present attractive alternatives in other industries. We have produced a list of the best American stocks to purchase in advance of 2024 since there are many firms in the American markets from which one might profit in the long term. If you make wise investments, these stocks have the potential to make you wealthy in 2024.
The financial firm Berkshire Hathaway Inc. (NYSE:BRK-B) is situated in Omaha, Nebraska. It is one of the greatest American stocks to purchase right now and is involved in the insurance, freight rail transportation, and utilities industries globally.
On August 7, UBS analyst Brian Meredith kept his Buy rating on shares of Berkshire Hathaway Inc. (NYSE:BRK-B). Additionally, the analyst increased his $405 to $414 price objective for the company.
In the second quarter, 109 hedge funds held shares in Berkshire Hathaway Inc. (NYSE:BRK-B). The entire value of their shareholding was $15.5 billion.
As of October 16, RBC Capital analyst Ben Hendrix is still rating UnitedHealth Group Incorporated (NYSE:UNH) shares as an Outperform. Additionally, the analyst increased his $572 to $596 price objective for the company.
Managed healthcare is provided by UnitedHealth Group Incorporated (NYSE:UNH). It functions via the divisions of UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The business is situated in Minnesota’s Minnetonka.
In the second quarter, 111 hedge funds with a combined position worth of $10.1 billion were long UnitedHealth Group Incorporated (NYSE:UNH).
Regarding UnitedHealth Group Incorporated (NYSE:UNH), Baron Funds stated the following in its investor letter for the third quarter of 2023:
Santa Clara, California is home to Advanced Micro Devices, Inc. (NASDAQ:AMD), a semiconductor manufacturer. In addition to chipsets and embedded processors, the firm sells x86 microprocessors and graphics processing units. It’s among the best American stocks to purchase in the next year.
On August 3, Benchmark analyst Cody Acree kept his Buy recommendation for Advanced Micro Devices, Inc. (NASDAQ:AMD). Additionally, the analyst increased his $108 to $145 price objective for the company.
A movie and entertainment firm, Netflix, Inc. (NASDAQ:NFLX) is involved in the communication services industry. The Los Gatos, California-based startup provides mobile games, feature films, TV shows, and documentaries on its platform.
According to our hedge fund data, 114 hedge funds had a total position worth of $8.4 billion in Netflix, Inc. (NASDAQ:NFLX) as of the second quarter.
Morgan Stanley analyst Benjamin Swinburne raised Netflix, Inc. (NASDAQ:NFLX) shares on October 19 from Equal-Weight to Overweight. The analyst also increased his $430 to $475 price objective for the company.
Terry Tillman of Truist Securities restated a buy rating on shares of salesforce.com, inc. (NYSE:CRM) on October 4. Additionally, the analyst kept the stock’s $275 price objective in place.
During the second quarter, 122 hedge funds were long salesforce.com, inc. (NYSE:CRM). The entire value of their shareholding was $7.2 billion.
Salesforce.com, Inc. (NYSE:CRM) is a San Francisco, California-based provider of application software. It offers technology for customer relationship management, or CRM.
Apple Inc. is a Cupertino, California-based information technology firm (NASDAQ:AAPL). It creates, produces, and sells wearable technology, tablets, PCs, cellphones, and accessories. One of the best American stocks to purchase is this one.
On October 16, Erik Woodring, a Morgan Stanley analyst, kept his rating of Overweight on the shares of Apple Inc. (NASDAQ:AAPL). Additionally, the analyst set a $210 price objective for the company.
In the second quarter, 135 hedge funds with a combined holding worth of $193.9 billion were seen to be long Apple Inc. (NASDAQ:AAPL).
In the second quarter, 139 hedge funds’ 13F holdings included Mastercard Incorporated (NYSE:MA). The entire value of their shareholding was $14.7 billion.
On October 18, Keybanc analyst Josh Beck kept his Overweight recommendation on Mastercard Incorporated (NYSE:MA) shares. Additionally, the analyst increased his $435 to $440 price objective for the company.
Mastercard Incorporated (NYSE:MA), a provider of transaction and payment processing services, has its headquarters in Purchase, New York. In addition to transaction processing services, it provides value-added services and integrated products for merchants, financial institutions, and account holders.
On September 27, Needham analyst Bernie McTernan restated his buy recommendation on Uber Technologies, Inc. (NYSE:UBER) shares. Additionally, the analyst kept the stock’s $60 price objective in place.
Uber Technologies, Inc. (NYSE:UBER) is a San Francisco, California-based provider of ground transportation services for passengers. One of the top American stocks to purchase, the firm creates and runs proprietary technology applications for ridesharing services.
In the second quarter, 171 hedge funds were seen holding shares of Visa Inc. (NYSE:V) with a combined worth of $24.9 billion.
Another firm on our list providing transaction and payment processing services is Visa Inc. (NYSE:V). San Francisco, California, serves as its headquarters.
On October 18, Dominick Gabriele of Oppenheimer retained an Outperform rating on shares of Visa Inc. (NYSE:V). Additionally, the analyst increased his $248 to $252 price objective for the shares.
Similar to Apple Inc. (NASDAQ:AAPL), UnitedHealth Group Incorporated (NYSE:UNH), and Berkshire Hathaway Inc. (NYSE:BRK-B), Visa Inc. (NYSE:V) is among the best American companies to purchase in advance of 2024.