May 1st, 2024 – In the current year, 2024, market trends have 3 main characteristics: medium growth, high inflation and elevated geopolitical risks. Such factors hinder investment strategies and opportunities across most asset sectors.
Said geopolitical uncertainties influence the equity market, as it can be deduced from growth expectations of 2-3% in the S&P 500. Thus warning investors to exercise extreme caution, specifically when dealing within the markets impacted by these economic hardships.
Contrastingly, companies involved in AI show greater promise of growth. In fact, after careful consideration, the following companies have the highest growth potential: MSFT, NVIDIA (its one year return is over 211%- best performing stock for may 2024).
Another possible investment would be Crowdstrike holdings inc. (CRWD). The company specialises in cybersecurity and has demonstrated robust performance and strong market position.
Within the same sector, there is another major player that capitalised on the augmentation for secure digital transformations, Zscaler inc (ZS).
Lastly, it might be a smart move to invest in Datadog Inc. (DDOG) which provides monitoring and security platforms for applications within the cloud.
None of the last three mentioned companies are leaders within their respective market but all show highly significant growth potential due to the market demand and a constant innovative cycle.
Author: Umberto Mille