Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

What Are the Best Mega-Cap Stocks to Buy for 2024?

By Investing.com (Günay Caymaz)Stock MarketsDec 06, 2023 13:07
ng.investing.com/analysis/what-are-the-best-megacap-stocks-to-buy--for-2024-187920
What Are the Best Mega-Cap Stocks to Buy for 2024?
By Investing.com (Günay Caymaz)   |  Dec 06, 2023 13:07
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
US500
-0.17%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NVDA
-1.32%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CRM
+0.16%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SHEL
-1.28%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AZN
-1.48%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
  • Mega-cap stocks have been a favorite for long-term investors, providing stability, global reach, and consistent dividends.
  • Using InvestingPro, we have curated a list of the top 36 mega-cap stocks.
  • Our analysis has ultimately led us to two mega-cap stocks with significant growth potential that could beat the index in 2024.
  • Missed out on Black Friday? Secure your up to 60% discount on InvestingPro subscriptions with our extended Cyber Monday sale.

Mega-cap stocks represent shares of companies listed on the US stock market with a market capitalization exceeding $200 billion, making them the largest publicly traded companies globally.

With the assistance of InvestingPro, let's arrange the mega-cap stocks in descending order. Here is the current list of the top 36 stocks ranked based on market cap:

List of 36 Shortlisted Stocks
List of 36 Shortlisted Stocks
These are well-established companies in the global financial markets with annual revenues in the billions of dollars, and they operate globally, not just in the US.

These stocks also constitute the largest share in the S&P 500 index. Mega-cap stocks with a stable financial structure are especially favored by long-term investors, as they tend to offer more solid returns at low volatility. In addition, most of these stocks pay regular dividends and provide investors with a significant fixed income.

The stocks with the highest market capitalization, which are stable and relatively resistant to market fluctuations, are mostly companies operating in the technology sector.

Today, in our InvestingPro analysis, we evaluated the best mega-cap stocks to buy for 2024.

Among the stocks with a market capitalization of over $200 billion, we can see that two technology stocks stand out when we rank the shares of companies operating in the technology sector according to fair value and analyst targets.

InvestingPro Stocks Shortlist
InvestingPro Stocks Shortlist

Source: InvestingPro

The first of these stocks, Salesforce (NYSE:CRM), has the potential to rise close to 24% in a year according to InvestingPro.

The other stock, Nvidia (NASDAQ:NVDA), has an upside forecast of less than 10% in the InvestingPro fair value analysis.

However, while the consensus forecast of analysts is an increase in the 35% band, it is thought that the stock is currently moving below its value.

InvestingPro Stocks Shortlist
InvestingPro Stocks Shortlist

Source: InvestingPro

In 2024, when we expand the screening of mega-cap stocks with upside potential to cover all sectors, we come across 6 stocks according to the fair value analysis.

Among these stocks, Shell (NYSE:SHEL) has the highest potential to increase in value within a year, with an increase of nearly 40%.

AstraZeneca (NASDAQ:AZN) is the only stock with an upside potential of more than 20% according to both InvestingPro's fair value analysis and analysts' consensus estimate.

AstraZeneca Stock Summary
AstraZeneca Stock Summary

Source: InvestingPro

On the other hand, when the portfolio of these stocks is compared to the one-year performance of the S&P 500, it can be seen that it provides an above-index return with a value increase of nearly 20%.

The average dividend yield of the shares was calculated as 1.8%.

***

You can easily determine whether a company is suitable for your risk profile by conducting a detailed fundamental analysis on InvestingPro according to your criteria. This way, you will get highly professional help in shaping your portfolio.

In addition, you can sign up for InvestingPro, one of the most comprehensive platforms in the market for portfolio management and fundamental analysis, much cheaper with the biggest discount of the year (up to 60%), by taking advantage of our extended Cyber Monday deal.

Disclaimer: The author does not own any of these shares. This content, which is prepared for purely educational purposes, cannot be considered as investment advice.

What Are the Best Mega-Cap Stocks to Buy for 2024?
 

Related Articles

What Are the Best Mega-Cap Stocks to Buy for 2024?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email