The U.S. stock market has remained resilient in 2024, offering a 7.5% return so far despite fluctuations. Investors are wary of a potential pullback due to high interest rates and geopolitical risks, but opportunities still exist in the market. Long-term investors can explore growth stocks like Broadcom and Nu Holdings, both showing promise for significant gains in the future.
Broadcom, a leading high-speed networking solutions provider, exceeded revenue and earnings estimates in the recent quarter. The company is witnessing strong demand for AI-related components and is well-positioned in the custom AI accelerator market. Additionally, the acquisition of VMware is driving up Broadcom’s infrastructure software revenue, supporting its growth trajectory in the coming months.
Nu Holdings, an all-digital bank in Latin America, is experiencing rapid customer growth and solid financial performance. With a focus on scaling up lending and expanding into new markets, Nu Holdings is poised for continued growth in 2024. Despite its strong fundamentals, Nu Holdings trades at a relatively low valuation, making it an attractive investment opportunity for those seeking long-term gains.
