5 Powerhouse Stocks to Fuel Your 2024 Portfolio
The S&P 500 has demonstrated a robust rally in 2023 and the true champions emerged in the form of Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), Meta (NASDAQ:META), Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA) and Tesla (NASDAQ:TSLA), propelling the index to new heights through their significant surges.
The anticipation on Wall Street is that the winners of 2024 will closely resemble this year's winners. However, in our pursuit of constructing an optimal portfolio for 2024, this post will delve into five stocks and examine the reasons behind their inclusion.
Stay tuned for the analysis of the remaining stocks, which will be covered next week on Wednesday, January 10. I will use the professional tool InvestingPro to access intriguing data and insights.
Gilead Sciences (NASDAQ:GILD) portfolio is based on oncology drugs whose data will be delivered later this year.
At the time it was the most popular biotech company curing hepatitis C. It has a robust balance sheet and can easily cover its $10 billion in net debt with its expected earnings.
It is now testing the use of Trodelvy in the treatment of lung cancer, and the results will be published later this year.
At 11 times expected earnings per share, the stock is cheaper than the S&P 500 index.
Its dividend yield is +3.59%.
Source: InvestingPro
On February 6, we will know its results for the quarter and revenue is expected to increase by +5.21% and EPS by +3.60%.
For 2024, the increase is +2.1% and +7% respectively. Annual sales growth is also expected to reach $28 billion by 2025. Not least interestingly, margins are expected to increase.
Source: InvestingPro
Its shares are up +9% in the last 3 months. The market sees potential at
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