3 Soaring Stocks I'd Buy Now With No Hesitation

As we approach the end of 2024, investors are looking for companies that have shown strong performance and have the potential for continued growth. In this article, we will examine three stocks that have soared this year and are poised for further gains: Carnival (CCL 7.93%), Amazon (AMZN 3.81%), and Costco (COST 1.02%). These companies have demonstrated impressive growth and offer attractive valuations, making them compelling long-term investments.


1. Carnival: The cruise operator has rebounded strongly from the pandemic-induced downturn, with its stock price climbing 21% this year. The company has benefited from increased travel demand and higher onboard spending, leading to a significant improvement in its financial performance. Carnival's advanced booked position has also grown, with higher prices indicating strong demand for its cruises. Despite its recent gains, the stock trades at a bargain 20x trailing earnings, making it an attractive investment opportunity.
2. Amazon: The e-commerce and cloud computing giant has continued its impressive run, with its stock price rising 31% this year. Amazon's investment in artificial intelligence (AI) has driven operational efficiency and customer satisfaction, while its AWS division has benefited from increased demand for AI-related products and services. The company's diversified business model and strong cash flow generation make it a compelling long-term investment, even at a forward P/E ratio of 38x.
3. Costco: The membership-based retailer has seen its stock price surge 34% this year, driven by its low-price strategy and strong membership renewal rates. Costco's solid business model and hefty special dividends make it an attractive long-term investment, despite its relatively high forward P/E ratio of 49x. The company's ability to maintain low prices and high customer loyalty positions it well for continued growth, even in challenging economic environments.

In conclusion, Carnival, Amazon, and Costco have demonstrated impressive growth and offer attractive valuations, making them compelling long-term investments. Despite their recent gains, these stocks remain undervalued compared to their historical averages and industry peers. While each company faces potential risks and challenges, their strong competitive advantages and management strategies position them well for continued success. Investors seeking undervalued opportunities with strong growth potential should consider adding these three soaring stocks to their portfolios.