3 Stocks That Can Help You Get Richer in 2024 and Beyond

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3 Stocks That Can Help You Get Richer in 2024 and Beyond

Do you want to get richer in 2024? Of course you do. I’ve got a few stocks here that you might consider for your portfolio — but I can’t promise that they will surge in 2024. That’s because it’s impossible to know how a given stock, not to mention the entire stock market, will perform over relatively short periods.

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can happen any time.

Still, the market has always recovered from those — and gone on to set new highs. Healthy and growing companies will typically recover from pullbacks, as well. So when you invest in the stock market or in particular stocks, plan to stay invested for at least a few years, if not many years. Growing wealthy via stocks is a marathon, not a sprint.

Here, then, are three stocks that can help you get richer in 2024 and beyond.

1. Sony

Sony Group (NYSE: SONY) is a well-diversified entertainment giant, with big operations in gaming, movies and TV, music, consumer electronics, and more.

Its stock is attractively priced at recent levels. Its price-to-sales ratio, for example, was recently 1.19, lower than its five-year average of 1.26. The price is low because Sony has been facing some

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and is reshaping itself — in part by selling off its some of its financial services operations.

Meanwhile, Sony has been rewarding shareholders by repurchasing lots of shares. It also has a 5-for-1 stock split coming up in October. The stock split is nothing to get excited about, as it will only serve to reduce the stock’s share price. Current shareholders will end up with five times as many shares, but the share price will be proportionately reduced, leaving them with roughly the same total value.

2.

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(NYSE: SHOP) has the least visibility among these three stocks. That’s because it works behind the scenes, offering a platform that helps people “achieve independence by making it easier to start, run, and grow a business.”

In

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’s impressive second quarter, it posted revenue and ****** profit both up 25% year over year, with ****** merchandise volume popping by 22%, as well. Revenue from its Subscriptions Solutions rose 27%, which especially promising as that’s recurring revenue.

Consider investing in

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now, as it’s not only growing at a good clip, but may grow more robustly due to new artificial intelligence (AI) tools it’s offering. Bulls are expecting the company’s net profit margin to jump from single digits to double digits due in part to the divestiture of its logistics division.

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3.

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(NASDAQ: ADBE) is a compelling candidate for your portfolio, too — partly because it has grown at a good clip in the past (its average annual gain over the past decade is 22.6%!) and partly because it appears undervalued at recent levels. Its recent forward-looking price-to-earnings (P/E) ratio of 26 is well below its five-year average of 32.

The company encompasses a wide range of technologies and products, such as Acrobat, Photoshop, Illustrator, Premiere Pro, and Firefly. Like other software specialists,

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has moved to subscriptions for its products, which results in a lot of recurring revenue — something investors like to see. Better still, it’s not standing on the sidelines as artificial intelligence (AI) becomes more prevalent, and it’s incorporating AI into its offerings. (Some worry, though, that AI might threaten its business, if people use it to do what

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products used to do for them.)

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recently sported a market value near $240 billion, and it stands a decent chance of becoming a trillion-dollar stock by 2035.

If any of these companies interest you, learn more about them and weigh their ***** and ***** before making your investment decision. And if you’re not sure, just add them to your watch list, buy in installments over time, or opt for other solid investments — or even a good old dependable index fund.

Should you invest $1,000 in Sony Group right now?

Before you buy stock in Sony Group, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 

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for investors to buy now… and Sony Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $763,374!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

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*Stock Advisor returns as of August 12, 2024

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has positions in

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and

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. The Motley Fool has positions in and recommends

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and

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. The Motley Fool recommends On Holding. The Motley Fool has a

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.

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was originally published by The Motley Fool

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#Stocks #Richer

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