7 Undervalued Stocks to Buy and Hold Forever: June 2024 Edition
Investors are always on the lookout for undervalued stocks with high growth potential. In the fast-paced financial markets, identifying these gems can lead to substantial returns in the long run. Here, we highlight seven companies that are currently flying under the radar but have the potential to deliver significant value to investors over time.
Advanced Micro Devices (AMD)
Advanced Micro Devices (NASDAQ: AMD) is a key player in the design and production of computer processors and related technologies. The company has been witnessing strong growth in its client category, with sales reaching $1.4 billion, marking an 85% increase from the previous year. AMD's Ryzen desktop and mobile CPUs have been in high demand, especially among commercial PC makers like HP (NYSE: HPQ). With its focus on AI accelerators and enhanced security features, AMD is well-positioned to capture market share in the enterprise PC space.
Meta Platforms (META)
Meta Platforms (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, operates the largest social media network globally. With total sales of $36.5 billion in Q1 2024, Meta has seen a 27% year-over-year increase in revenue. The company's investments in AI and virtual reality technologies are expected to drive user engagement and expand its revenue streams, making it an attractive choice for investors.
Intel (INTC)
Intel (NASDAQ: INTC) is a leader in semiconductor manufacturing and microprocessor production. Despite some challenges, Intel's advancements in processor technologies and strategic investments in foundry capabilities position it as a key player in the undervalued stocks category. The company's focus on AI and data center sectors, along with product launches like the Intel Gaudi 3 AI accelerator, further solidify its growth potential.
Block (SQ)
Block (NYSE: SQ) offers financial services and mobile payment solutions through its flagship app. The company's expansion into cryptocurrency and digital payments, along with innovative products like Cash App Borrow and Cash App Card, make it a compelling choice for investors looking for undervalued stocks with long-term growth potential.
Crowdstrike (CRWD)
Crowdstrike (NASDAQ: CRWD) provides cybersecurity solutions through its Falcon platform, leveraging AI and cloud technologies. The company's focus on cybersecurity solution consolidation and partnerships with major players in the market position it as a leader in cloud security. With robust growth in revenue and profitability, Crowdstrike is a solid pick for investors.
Palantir Technologies (PLTR)
Palantir Technologies (NYSE: PLTR) specializes in big data analytics software and serves government agencies and large enterprises. The company's strong customer retention rates and continuous growth in revenue make it an attractive option for investors seeking undervalued stocks with long-term potential.
Investing in undervalued stocks with strong growth prospects can be a rewarding strategy for long-term investors. These seven companies represent opportunities in various sectors, from technology to financial services, offering potential for significant returns over time.
