The Top 3 Stocks to Buy in April 2024 (2024)

FREE REPORT7 Top A.I. Stocks for 2024

The Top 3 Stocks to Buy in April 2024 (1)

Check out these promising top stocks for April for potential long-term gains

ByMarc Guberti, InvestorPlace ContributorApr 26, 2024, 12:36 pm EDT

  • These are some of the top stocks to buy.
  • Amazon (AMZN): The grocery subscription is another catalyst that should reward long-term investors.
  • Alphabet (GOOG,GOOGL): Advertising and cloud computing continue to perform well.
  • Marriott International (MAR): The hotel chain has nearly 8,800 properties and continues to expand its profit margins.

The Top 3 Stocks to Buy in April 2024 (2)

Investing in stocks is a long-term process. You will have to ride the highs and lows of any investment, but the top stocks for April are more reliable than others.

It’s possible to find stocks you can safely hold for over a decade. These corporations exhibit financial strength and have growth opportunities readily available. You can search for smaller corporations that can potentially deliver higher returns, but the corporate giants offer a good mix of stability and returns. Investors looking for promising investments may want to consider these top stocks.

Amazon (AMZN)

The Top 3 Stocks to Buy in April 2024 (3)

Source: Tada Images / Shutterstock.com

Amazon (NASDAQ:AMZN) is expanding in multiple verticals. E-commerce and cloud computing continue to be the highlights, but investors should monitor the company’s advertising, video streaming and grocery segments. Amazon recently launched a low-cost subscription plan. The plan allows consumers to receive groceries right to their door. The subscription pays for itself after a few uses since it will enable people to save money on gas. It costs $9.99/mo for Amazon Prime members. People enrolled in the Supplemental Nutrition Assistance Program only have to pay $4.99/mo.

The new grocery subscription should increase Amazon’s recurring revenue and the frequency of orders. Groceries are one of the many components that led to 14% year-over-year net sales growth in Q4 2023. The company reached a record $170.0 billion in sales during the quarter while raising its profit margins to 6.25%. Amazon has outperformed the stock market with a 67% gain over the past year.

Alphabet (GOOG,GOOGL)

The Top 3 Stocks to Buy in April 2024 (4)

Source: IgorGolovniov / Shutterstock.com

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is another tech giant outpacing the market. The stock is up by 15% year-to-date and has gained 151% over the past five years. Despite those gains, Alphabet trades at a 29.5 P/E ratio, which is lower than most Magnificent Seven members.

The corporation continues to rebound from its 2022 results, with profit margin growth as a notable highlight. Alphabet reported $86.3 billion in Q4 2023 revenue, which was 13% higher than in the same period last year. The company also reported a net income of $20.7 billion, representing a 52% year-over-year improvement. Alphabet’s net profit margin came in at 24.0%.

The company’s cloud computing segment continues to grow and represents more than 10% of the corporation’s total revenue. Google Cloud and artificial intelligence initiatives can continue to power up the stock. Meanwhile, advertising revenue is still going strong thanks to Alphabet’s overwhelming dominance in the industry.

Marriott International (MAR)

The Top 3 Stocks to Buy in April 2024 (5)

Source: DELBO ANDREA / Shutterstock

Not every promising growth stock has to be a tech stock. Marriott International (NASDAQ:MAR) offers growth at a reasonable price. The stock trades at a 24 P/E ratio and provides a 0.84% yield. The company has maintained an annualized 11.84% dividend growth rate over the past decade.

The corporation only took a brief break from dividend distributions during the pandemic. However, investors don’t have to worry about a dividend pause anytime soon with the travel boom still in full force.

Marriott International closed out 2023 with a solid quarter. The company generated net sales of $1.68 billion in Q4 2023. That’s a solid 12% year-over-year increase. Net income increased by 26% year-over-year, bringing the company’s net profit margin to more than 50%.

Marriott stock has been outperforming the broader market. It’s up by 11% year-to-date and has gained 81% over the past five years. The hotel chain has a vast competitive moat with nearly 8,800 properties worldwide.

On this date of publication, Marc Guberti held long positions in GOOG and AMZN. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.com Publishing Guidelines.

Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/the-top-3-stocks-to-buy-in-april-2024/.

©2024 InvestorPlace Media, LLC

The Top 3 Stocks to Buy in April 2024 (2024)

FAQs

The Top 3 Stocks to Buy in April 2024? ›

Snap and GE rank among the best stocks for the month, while the worst include Intel and Sirius XM.

Which stock to invest in April 2024? ›

Snap and GE rank among the best stocks for the month, while the worst include Intel and Sirius XM.

What is Warren Buffett buying? ›

Warren Buffett's stock purchases in the most recent quarter include Chubb Limited (CB) and Occidental Petroleum (OXY). HP Inc.

How to put money in stocks? ›

One of the easiest ways is to open an online brokerage account and buy stocks or stock funds. If you're not comfortable with that, you can work with a professional to manage your portfolio, often for a reasonable fee. Either way, you can invest in stock online at little cost.

What stocks make you the most money fast? ›

Alongside Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), and Apple Inc. (NASDAQ:AAPL), Adobe Inc. (NASDAQ:ADBE) is one of the best money making stocks to invest in. In its Q3 2023 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Adobe Inc.

What will boom in 2024? ›

Online education is one of the fastest-growing industries in the healthcare sector and health and fitness industry in 2024 to invest in. Markers estimate that revenue in this industry is projected to reach $269.79 billion by 2031, making it a great opportunity for investors.

What market will grow in 2024? ›

Market Sectors To Watch In 2024

The healthcare sector is expected to generate a market-leading 17.8% earnings growth in 2024, while the information technology sector is expected to lead the way with 9.3% revenue growth.

Will stock market rise in 2024? ›

The Big Money bulls forecast that the Dow Jones Industrial Average will end 2024 at about 41,231, 9% higher than current levels. Market optimists had a mean forecast of 5461 for the S&P 500 and 17,143 for the Nasdaq Composite —up 9% and 10%, respectively, from where the indexes were trading on May 1.

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