Pro: 6 Top Growth and Blue-Chip Stocks to Watch in 2024

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THE MONEY IDEA💡
Pro: 6 Top Growth and Blue-Chip Stocks to Watch in 2024

The 6 Picks:

As we navigate into 2024, the economic landscape presents both challenges and opportunities. Investors should focus on growth and blue-chip stocks poised to maintain robust margins. According to Morningstar, purchasing these stocks below their intrinsic value could mitigate price risks amidst economic uncertainties.

• Taiwan Semiconductor Manufacturing (TSM)

• AstraZeneca (AZN)

• Tyler Technologies (TYL)

• Rentokil Initial (RTO)

• Roche (RHHBY)

• Comcast (CMCSA)

Next is a breakdown of the 6 stocks:

THE MONEY IDEA💡
Breakdown: 6 Top Growth and Blue-Chip Stocks to Watch in 2024

Taiwan Semiconductor Manufacturing (TSM):

• World's largest dedicated contract chip manufacturer

• Stable earnings and dividend-paying

• Benefits from high-performance computing and AI advancements

• Morningstar’s valuation: $139 per share

AstraZeneca (AZN):

• Strong drug pipeline with blockbuster potential

• Focus on high-margin specialty drugs

• Morningstar’s valuation: $78 per share

Tyler Technologies (TYL)

• Leader in government operational software

• Growth potential in modernizing local government systems

• Morningstar’s valuation: $475 per share

Rentokil Initial (RTO)

• World's largest commercial pest-control business

• Expected solid organic revenue growth over the next decade

• Morningstar’s valuation: $36 per share

Roche (RHHBY)

• Wide economic moat in drug portfolio and diagnostics

• Growth potential with innovative pipeline and biologics focus

• Acquisition of Carmot Therapeutics for obesity drug market entry

• Morningstar’s valuation: $59 per share

Comcast (CMCSA)

• Significant competitive advantages in core cable business

• Strong balance sheet, share repurchase, and dividend payments

• Modest growth with strong cash flow expected

• Morningstar’s valuation: $60 per share

Both growth and blue-chip stocks offer distinct advantages. The former provides potential for significant appreciation, while the latter offers stability and consistency. By focusing on undervalued stocks with strong fundamentals, investors can navigate through economic uncertainties with greater confidence.

As always, due diligence and careful consideration of individual risk profiles are essential for making informed investment decisions.

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