7 stocks that can deliver over 30% returns to make you rich in 2024 (2024)

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Which stock will make me rich in 2024? ›

Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the third quarter of 2024 showed their returns diverging and the whole group came under selling in recent weeks.

The Magnificent Seven stocks include Apple, Microsoft, Amazon, Alphabet (Google), Meta Platforms (Facebook), Nvidia, and Tesla. They are called this because of their strong performance, market dominance, and influence on the overall stock market.

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What are the 3 most expensive stocks? ›

Overall, Yardeni Research forecasts S&P 500 operating earnings at $250 in 2024, up 12% vs 2023. He puts them at $270 in 2025 (up 8%) and $300 in 2026 (up 11.1%). These figures compare with analysts' consensus forecasts of $244.70 in 2024, $279.70 in 2025 and $314.80 in 2026.

The group is made up of mega-cap stocks Apple (AAPL), Alphabet (GOOGL), Microsoft (MSFT), Amazon.com (AMZN), Meta Platforms (META), Tesla (TSLA) and Nvidia (NVDA). In 2023, the Magnificent 7 stocks logged an impressive average return of 111%, compared to a 24% return for the broader S&P 500.

The Magnificent Seven stocks are a group of high-performing and influential companies in the U.S. stock market: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla. Bank of America analyst Michael Hartnett used the film name in 2023 when commenting on these seven firms.

(All seven “Magnificent Seven” stocks as a collective accounted for 64.3% of S&P 500 market cap growth for the first half of the year.) With large-caps growing larger and more trillion-dollar companies being minted, it begs the question: how concentrated is the U.S. stock market?

As a whole, analysts are optimistic about the outlook for stock prices in 2024. The consensus analyst price target for the S&P 500 is 5,090, suggesting roughly 8.5% upside from current levels. Was this article helpful?

The Union Budget 2024-2025 has laid a strong foundation for various sectors, offering numerous opportunities for investors in the share market today. The highlighted stocks – Natco Pharma, Career Point, Himadri Speciality Chemical, Protean eGov Technologies, and NCC Ltd – present significant potential for growth.