24/7 Insights
- Growth stocks typically grow revenue or net income faster than the overall market.
- Advanced Micro Devices Inc. (NASDAQ: AMD) is trading 27% below its 52-week high and offering solid value.
- JPMorgan Chase & Co. (NYSE: JPM) is arguably the best financial stock to buy now.
- Warren Buffett owns a stunning 28% of Occidental Petroleum Corp. (NYSE: OXY).
Growth stocks are companies expected to grow above average compared to other companies. Typically, these companies reinvest their earnings into the business to fuel expansion, develop new products, or enter new markets and often do not pay dividends to shareholders. Top growth stock status usually belongs to companies with strong, consistent, and above-average earnings growth and wide product or service moats.
Why do we cover growth stock companies?
Market-leading growth stocks offer investors the potential for big returns, driven by expanding rapidly and reinvesting in their future. However, they often come with more significant risks and require careful consideration and a higher risk tolerance. Understanding the characteristics of growth stocks is essential for investors, as this knowledge can help them make good decisions that align with their financial goals and risk tolerance.
We screened our 24/7 Wall St. growth stock research database looking for companies that offer big upside potential and dominate their specific sector category. Three top companies seem like the best ideas for investors to consider in June.
Advanced Micro Devices
This semiconductor leader offers superb value at current trading levels and should compete in a big way in the artificial intelligence world. Advanced Micro Devices Inc. (NASDAQ: AMD) operates as a semiconductor company worldwide. It operates through four segments:
- Data Center
- Client
- Gaming
- Embedded segments
The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.
The company provides processors under these brand names:
- AMD Ryzen
- AMD Ryzen PRO
- Ryzen Threadripper
- Ryzen Threadripper PRO
- AMD Athlon,
- AMD Athlon PRO
- AMD PRO A-Series
In addition, the company offers data center graphics under the Radeon Instinct and Radeon PRO V-series brands, as well as servers under the AMD Instinct accelerators brand; server microprocessors under the AMD EPYC brands.
Top Wall Street analysts feel that trading at 29 times estimated 2025 earnings, with a potential for multiple contraction very likely, the stock offers tremendous upside potential. Despite massive competition in the chip arena from Nvidia Corp. (NASDAQ: NVDA) and others, Advanced Micro Devices has carved out a strong and diverse product line that should keep business humming for years.
JPMorgan Chase
This stock trades at a reasonable 12 times estimated 2024 earnings and offers shareholders a 2.30% dividend. JPMorgan Chase & Co. (NYSE: JPM) is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets. Today’s company was formed by merging retail bank Chase Manhattan and investment bank J.P. Morgan.
JPMorgan operates across a wide spectrum of financial services, including investment and corporate banking, asset management, retail financial services, commercial banking, credit cards, and financial transaction services. This diverse portfolio underscores the company’s adaptability and ability to cater to various client needs.
Leading analysts on Wall Street are highly optimistic about the future of JPMorgan, citing several compelling reasons. The company is poised for growth in nearly every aspect of its business.
- Leading M&A advisory and capital markets product set and market share
- Massive footprint of corporate and commercial banking customers
- Sizable wholesale payments businesses. JPM has proven to have the money to continually invest in people, products, and platforms to further its market share base, extending its competitive advantage
Led by the well-respected Jamie Dimon, this is an outstanding growth stock idea to look at in June.
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Occidental Petroleum
Over the past two years, Berkshire Hathaway has been buying the shares in a big, which now amounts to a massive 248,018,128 that pay a decent 1.37% dividend. Occidental Petroleum Corp. (NYSE: OXY) together with its subsidiaries, is engaged in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America.
It operates through three segments:
- Oil and Gas
- Chemical
- Midstream and Marketing
The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Its Chemical segment manufactures and markets basic chemicals, including:
- Chlorine
- Caustic soda
- Chlorinated organics
- Potassium chemicals
- Ethylene dichloride
- Chlorinated isocyanurates
- Sodium silicates, and calcium chloride
- Vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene
The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities.
Warren Buffett has loaded the boat on Occidental Petroleum which pays Berkshire Hathaway a reported $897,455,953 in annual dividends. $218,255,953 from the common stock and $679,200,000 from Occidental preferred stock which yields 8%. It is a very solid stock to buy in June, especially given the back-up in the energy sector.
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