Top Growth Stocks for 2024: Grab These Explosive Opportunities!

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The process of selecting the right stocks for one’s portfolio takes time, patience, and research. Understanding personal investment objectives, risk tolerance, and holding period is necessary. Stocks of established and financially sound businesses should be added to one’s portfolio. Apple and MercadoLibre are both businesses that would be wise to add. As the world changes rapidly Apple remains a dominant business with a huge market share. The company’s services segment, which includes Apple Music, Apple TV+, app purchases from the iTunes store, and more, is starting to play a larger role in its overall growth. In the first quarter of fiscal 2024, the company’s net sales and profits were driven primarily by iPhone sales and a new sales milestone in the services segment. Apple reported earnings per share of $2.18, and the company has grown its dividend, making it a stock to buy, hold, and add to over time.

MercadoLibre is the leading e-commerce site in Latin America. The company’s online platform habitually receives about half a billion visitors per month, and accounts for more than one-fifth of all retail sales in the region. The company also has a large and growing fintech platform, a logistics network, and an advertising service. Mercado Pago, its payment processing platform, is widely adopted in the region and it has just as much payment volume offline as it does online. MercadoLibre even has a cloud-based point-of-sale software system that is experiencing explosive growth. In the most recent quarter, MercadoLibre reported strong financial performance. Gross merchandise volume climbed by 60% and net revenue was up 70%. The company’s total payment volume and other key financial metrics all showed major year-over-year growth. With the booming Latin American e-commerce market, this business has a lot of potential for long-term growth and should be considered by investors looking to invest for the long run.

Both Apple and MercadoLibre have strong marks in their respective industries and are companies to consider for inclusion in a diversified, long-term portfolio. Their exceptional growth and financial performance make them intriguing choices for investors. The substantial year-over-year gains in important metrics like net revenue, gross merchandise volume, and total payment volume make these companies worth the investment. Apple and MercadoLibre both have considerable potential and are expected to continue offering the strong, long-run growth investors desire.

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