5 Best Stocks To Invest In 2024 For Beginners

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1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306

Quarterly Revenue Growth: 17.60%

Microsoft Corporation (NASDAQ:MSFT) ranks 1st on our list of the best stocks to invest in 2024 for beginners. On January 31, Microsoft reported December quarter results that exceeded expectations, earning praise from Wall Street. The positive reception suggests that the advantages the company is experiencing from artificial intelligence are just starting. Notably, AI contributed to a six-percentage-point growth for Azure in the quarter, leading to a 30% growth, surpassing the company’s earlier guidance. J.P. Morgan analyst Mark Murphy highlighted Microsoft’s “solid” performance and the positive impact of AI, attributing it to the company’s ongoing execution and a stable business environment.

According to Insider Monkey’s third quarter database, 306 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT), compared to 300 funds in the prior quarter. Bill & Melinda Gates Foundation Trust is the leading position holder in the company, with 39.2 million shares worth $12.4 billion. 

Madison Sustainable Equity Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:

“Microsoft Corporation’s (NASDAQ:MSFT) sustainable scorecard was updated with an unchanged rating of Above Average. The company’s board has an official Environmental, Social, and Public Policy Committee in addition to the traditional Audit, Compensation, and Governance committees. For ten years, Microsoft has publicly released data measuring the diversity of its workforce. With the prominence of Artificial Intelligence (AI), the company has launched a 5-point blueprint for governing AI to address public policy and regulation. Environmentally, Microsoft has multiple programs to be carbon negative by 2030. The company has signed Purchase Power Agreements for carbon-free energy totaling 13.5 Gigawatts.”

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