Goldman Sachs’ Top 5 Stock Picks for 2024

In this piece, we will take a look at Goldman Sachs’ top five stock picks for 2024. If you want to find out the latest about the bank’s financial woes, then read Goldman Sachs’ Top 15 Stock Picks for 2024.

5. Visa Inc. (NYSE:V)

Goldman Sachs’ Q3 2023 Investment Value: $4.6 billion

Visa Inc. (NYSE:V) is a financial payments products and solutions provider. The firm is expanding its global portfolio as of late, since it entered into an arrangement with Tencent in November 2023 to allow users on the Weixin platform to directly receive internal remittances in their wallets.

Insider Monkey’s Q2 2023 survey of 910 hedge funds revealed that 171 had held a stake in the company. Visa Inc. (NYSE:V)’s biggest investor in the following quarter was Chris Hohn’s TCI Fund Management courtesy of its $3.8 billion stake.

4. Amazon.com, Inc. (NASDAQ:AMZN)

Goldman Sachs’ Q3 2023 Investment Value: $6.3 billion

Amazon.com, Inc. (NASDAQ:AMZN) is an online retailer, cloud computing, and consumer electronics company headquartered in Seattle, Washington. Like some other big tech stocks, its shares are also rated Strong Buy on average and analysts have set an average share price target of $172.

By the end of June 2023, 278 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Amazon.com, Inc. (NASDAQ:AMZN)’s shares. As of September 2023, Ken Fisher’s Fisher Asset Management was the firm’s largest shareholder as it owned 41 million shares which were $5.2 billion.

3. NVIDIA Corporation (NASDAQ:NVDA)

Goldman Sachs’ Q3 2023 Investment Value: $6.5 billion

NVIDIA Corporation (NASDAQ:NVDA) is one of the biggest and most valuable semiconductor designers in the world. Its products are at the heart of the ongoing AI revolution, and these days, NVIDIA Corporation (NASDAQ:NVDA) is facing the heat from Microsoft as the latter recently announced its own set of AI chips.

Insider Monkey dug through 910 hedge fund portfolios for their second quarter of 2023 shareholdings to discover that 175 had invested in the firm. NVIDIA Corporation (NASDAQ:NVDA)’s biggest hedge fund investor in Q3 was Rajiv Jain’s GQG Partners due to its $6 billion investment.

2. Microsoft Corporation (NASDAQ:MSFT)

Goldman Sachs’ Q3 2023 Investment Value: $12.9 billion

Microsoft Corporation (NASDAQ:MSFT) is another big tech stock that dominates Goldman Sachs’ investment portfolio. The tail end of November was quite eventful for the firm, as it raced to deal with the management fall out from OpenAI before the shares opened for trading. Microsoft Corporation (NASDAQ:MSFT) successfully handled the crisis before the opening bell.

During this year’s June quarter, 300 out of the 910 hedge funds part of Insider Monkey’s database were Microsoft Corporation (NASDAQ:MSFT)’s shareholders. Michael Larson’s Bill & Melinda Gates Foundation Trust owned the largest stake in Q3, which was worth $12.4 billion.

1. Apple Inc. (NASDAQ:AAPL)

Goldman Sachs’ Q3 2023 Investment Value: $15.6 billion

Apple Inc. (NASDAQ:AAPL) is the creme de la creme of the personal computing and technology industry. Fresh rumors suggest that the firm plans to further increase its control over the iPhone’s manufacturing by making more of the phone’s sensors in house.

135 out of the 910 hedge funds surveyed by Insider Monkey had invested in the firm as of Q3 2023.

Disclosure: None. You can also take a look at 10 Best Stocks to Buy on the Dip for Long Term and 15 Stocks George Soros Just Bought and Sold.

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