5 Best Stocks to Buy in September 2024
Finding the best stocks to buy can be tricky when you saved up some money but don’t know which stocks to buy. There are literally thousands of publicly traded companies in many different sectors including U.S. based companies as well as foreign ADRs.
Many stocks are down significantly from their November 2021 highs and seeing your favorite companies down 50% or more doesn’t make things easier. Not only are these stocks trading at wonderful prices but they are also solid long term investments if you are a buy and hold investor.
Here’s my list of best stocks in no particular order along with my bullish thesis for each company.
Top Stocks for September 2024
- Apple
- Alphabet
- Amazon
- Tesla
- Coinbase
Best Stocks
1. Apple
It’s hard not to include the world’s largest company by market cap on this list. Apple is the gift that keeps on giving and should be a cornerstone in a conservative growth stock portfolio.
The company reported record Q2 2022 revenue and continues to innovate its product line while growing top line revenue.
Brand loyality is real and Apple fanatics will set aside money for the latest upgrade even in a recession-like environment.
Not to mention the monthly dividend is icing on the cake. You won’t get massive 10x returns buying Apple stock but you also won’t risk losing everything either.
2. Amazon
Amazon is another big tech giant that looks like an attractive buy at these levels. CEO Andy Jassy has successfully complete his first year as Chief Executive Officer and has settled in nicely after Jeff Bezos’ departure.
The company continues to grow its cloud computing and advertising business even though the e-commerce side is experencing a slowdown in revenue.
That’s expected since consumers are spending more time outdoors instead of being forced inside their homes due to COVID-19 restrictions. The e-commerce sector as a whole took a beatening so no reason to panic.
AMZN doesn’t pay a dividend but still remains one of the best companies in the world. You could do much worse than Amazon stock in my opinion.
3. Alphabet
Alphabet, the parent company that owns Google and Youtube, is another solid stock pick if you’re bullish on internet growth. During the Q2 2022 earnings report, some investors got spooked due to a slowdown in Google’s advertising business but rest assured big G has everything under control.
Google maintains a 92% search engine market share and doesn’t seem to be affected by Tiktok’s dominance unlike Meta Platforms.
The recession forced many merchants to slash advertising budgets to save money but I believe ad spend will come roaring back in 2023 once things cool off. The COVID-19 pandemic sent internet usage to unsustainable heights so we need time to rest and recover from all that time in front of a screen.
The only frustrating thing about Alphabet is its confusing Class A and Class D share structure. GOOGL is the class A stock that has voting rights while GOOG doesn’t have any.
If you are bullish on internet advertising in the long term then Alphabet is a must buy for your portfolio.
4. Tesla
Tesla is one of the best EV stocks to buy right now as society transitions from gas vehicles to electric cars. CEO Elon Musk holds the title of world’s richest man and has big plans for his company in the future.
Even though Tesla experienced a decrease in production for the first time in 2 years, the company couldn’t help it due to the Shanghai COVID-19 lockdowns. The Shanghai gigafactory is back up and running and expect Tesla to blow away their numbers in Q3 2022.
The company also completed the Austin Gigafactory this year and could start producing the much awaited Cybertruck as early as next year. Other products in the pipeline include Tesla bot, the Tesla semi, and possibly an eVTOL aircraft.
I don’t like the fact that Tesla sold Bitcoin to raise cash but you never know what Musk will do next .
5. Coinbase
Coinbase is the largest crypto exchange in America and should hit over 100 million verified users in Q3 2022. This is no small feat and shows just how much Coinbase is an important part of the world’s crypto ecosystem.
I’ll be honest: the crypto industry looks ugly right now and nobody wants to touch Coinbase stock or any other crypto coin right now. Several rumors have surfaced about Coinbase facing insolvency as well.
However, cryptocurrency isn’t going anywhere and the Voyager and Celsius bankruptcy drama actually helps Coinbase grow its userbase in the long run. Coinbase statistics show that the company has grown a ton in just 2 years.
Trust, not yield, is the most important thing right now in crypto after millions of yield chasers lost their savings.
Coinbase’s strong reputation along with its growing product line of 166 tradable coins, NFTs, and 13,000+ institutional traders is enough to make COIN stock very attractive.
Important Factors to Consider
Before I get into the list of stocks, I want to make several key points about the stocks mentioned in this article.
- Choosing the best stocks to buy can significantly alter your finances for better or worse. You should have a solid financial education before you buy stocks. To get started, read our guide on how to invest in stocks. Protect yourself by paying yourself first, establishing an emergency fund, and learning how to buy stocks without blowing up your brokerage account.
- I like these stocks as long term investments but I have absolutely no idea where they will trade in the next 3 to 6 months. Benjamin Graham famously said: “In the short run, the market is a voting machine but in the long run, it is a weighing machine. Things may get volatile in the short term but quality stocks will perform well if management focuses on the business and executes well.
- These stock picks aren’t part of a well balanced portfolio. I think it’s much harder to choose 10 quality stocks that aren’t part of the same sector or price range. I spent a lot of time thinking about these 10 companies and feel obligated to give you the best of breed stocks for your portfolio.
Summary
Buying tech stocks is a good move in my opinion and I’m looking for deals surrounding these companies. I’ve got a few more stocks to add to this list so stay tuned for them soon.
What do you think? Let me know your thoughts in the comments below.
