The 9 Best Growth Stocks to Buy Now in July (2024) | NVDA, Nvidia Stock | My Top Growth Stocks

Summary

In this video, the host reveals their top nine growth stocks to buy in July, including Nvidia, Amazon, and Alphabet, highlighting factors like advertising revenue, asset-light business models, and digital transformation. They discuss the performance of these stocks against market indices and emphasize the importance of doing one's own research rather than relying solely on recommendations. The video aims to inform and engage viewers on investment opportunities in the current market.

Takeaways

• 📈 The presenter shares a list of top nine growth stocks to buy in July, emphasizing they will reveal them early in the video.
• 💡 The presenter will discuss the factors influencing their stock picks and provide a brief analysis without extending the video length.
• 📊 They will also share the performance of these growth stocks, comparing it to the S&P 500 and equal weighted index to demonstrate the performance so far in 2024.
• 👍 The top nine growth stocks mentioned are Nvidia, Amazon, Snap, Fiverr, PayPal, Salesforce, Uber, Alphabet, and Chewy.
• 🆕 Chewy was recently added to the list on March 1st and has seen a significant increase of 41% since then, becoming a 'meme stock'.
• 💻 The presenter highlights the relatively inexpensive valuations of the recommended stocks, with Snap being the most expensive at a forward PE of 37.
• 📐 The presenter is bullish on the advertising industry, particularly digital advertising, and explains why they like Snap and Alphabet for their positions in this space.
• 🚀 The asset-light business model of Fiverr and Uber is praised for its potential to return more profits to shareholders and their significant growth and network effects.
• 🛒 Amazon and PayPal are set to benefit from normalized consumer behavior, shifting back to online spending, with Amazon showing profitability and PayPal offering convenience.
• 💡 Nvidia is valued for its forward PE not increasing as much as its stock price, keeping it a top pick, while Salesforce has pivoted to AI, boosting its appeal.
• 🐶 Chewy, an online pet retailer, has seen its stock price respond positively after management improved efficiencies and became more optimistic about the market.
• 📉 Despite outperforming indices year to date, the presenter warns against overreliance on their stock picks and emphasizes the importance of individual due diligence.

Q & A

What are the top nine growth stocks recommended in the video?

The top nine growth stocks recommended are Nvidia, Amazon, Snap, Fiverr, PayPal, Salesforce, Uber, Alphabet, and Chewy.

What is the significance of the date March 1st mentioned in the script?

March 1st is significant because it is the date when Chewy stock was added to the list of top growth stocks to buy, and since then, it has seen an increase of 41%.

Why is the presenter bullish on the advertising industry?

The presenter is bullish on the advertising industry, particularly the digital advertising sector, as marketers are allocating an increasing share of their budgets to digital advertising.

What makes Snap and Alphabet appealing as growth stocks?

Snap is appealing due to its younger user base and solid cash flow, while Alphabet is attractive because of its dominating position in the advertising industry.

What is the asset-light business model, and why does the presenter like it?

The asset-light business model involves companies that do not require significant physical assets to operate. The presenter likes it because it allows for more profits to be returned to shareholders via dividends or share buybacks, increasing earnings per share.

How has Uber's growth been influenced by its network effect?

Uber has grown significantly and has become a verb, indicating its network effect. The large number of users has made it a go-to service for ride-sharing and food delivery, contributing to its growth.

What is the current forward PE of Fiverr, and why is it considered cheap?

Fiverr's current forward PE is 8.8, which is considered cheap. There are concerns about artificial intelligence's impact on the gig economy, but the presenter believes these concerns are overblown and that the overall impact will be neutral.

What macroeconomic factors are working in favor of Amazon and PayPal?

The normalization of consumer behavior, with a shift towards online spending, is a macroeconomic factor benefiting both Amazon and PayPal. Additionally, both companies are profitable and trading at relatively cheap valuations.

What is Nvidia's forward PE at the start and end of the year, and why is it still considered a top stock to buy?

Nvidia started the year with a forward PE of around 28 and is now at 34. Despite the increase in stock price, the forward PE valuation has not increased proportionally, keeping it on the list of top stocks to buy.

How has Salesforce pivoted its business strategy to stay competitive?

Salesforce has pivoted to artificial intelligence, employing its enterprise resource management system and AI to help enterprises connect with consumers, which has become increasingly sought after as businesses are less fearful of a recession.

What is the year-to-date performance of the presenter's top nine growth stocks, and how does it compare to market indices?

The year-to-date performance of the top nine growth stocks has been strong, with Nvidia at 151%, Alphabet at 31%, and Amazon at 29%. The presenter's portfolio has outperformed the S&P 500 by a significant margin and nearly five times the equal weight index.

Why does the presenter caution against relying too much on their stock recommendations?

The presenter cautions against overreliance on their recommendations to avoid complacency and overconfidence in the early results. They emphasize the importance of doing one's own due diligence before investing in any stocks.