Investing in stocks can be a lucrative way to grow your wealth over time. However, with thousands of companies to choose from, finding the right stocks to invest in can be daunting, especially for beginners. To make the process easier, we have compiled a list of the 10 best stocks to invest in 2024 for beginners. These stocks have been selected based on their stability, revenue growth, and hedge fund sentiment. So, let's dive into the list and explore these promising investment opportunities.

1. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 104

Quarterly Revenue Growth: 14.10%

UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates in the United States. With four segments - UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx - UnitedHealth Group offers a wide range of health benefit plans, including Medicaid plans and children's health insurance.

In Q4, UnitedHealth Group reported a non-GAAP EPS of $6.16 and revenue of $94.4 billion, surpassing Wall Street estimates. The company experienced a 14% year-over-year revenue growth during this period. With 104 hedge funds holding stakes worth nearly $11 billion in UnitedHealth Group, it's clear that investors see great potential in this stock.

2. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 109

Quarterly Revenue Growth: 11.00%

JPMorgan Chase & Co. (NYSE:JPM) is a global financial services company that operates in four segments - Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. JPMorgan Chase offers a wide range of services to individuals, corporations, and institutions.

In February, JPMorgan Chase announced its plans to expand by opening 500 new branches, renovating 1,700 locations, and hiring 3,500 staff members. This expansion aims to reach low-income and rural communities in new markets. With 109 hedge funds holding stakes in JPMorgan Chase, this stock is a popular choice among investors.

3. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 110

Quarterly Revenue Growth: 10.20%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company that operates in various segments, including Data Center, Client, Gaming, and Embedded. AMD provides microprocessors, graphics processing units (GPUs), chipsets, and other products for data centers, gaming, and embedded applications.

In February, Citi analyst Christopher Danely increased AMD's guidance for artificial intelligence-related revenue. The company is anticipated to generate $3.5 billion in sales for the current year, up from the previous estimate of $2 billion. With 110 hedge funds bullish on AMD, this stock is attracting significant attention from investors.

4. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 112

Quarterly Revenue Growth: 11.60%

Adobe Inc. (NASDAQ:ADBE) is a diversified software company that operates globally through three segments - Digital Media, Digital Experience, and Publishing and Advertising. Adobe offers products and services for content creation, customer experience management, and digital marketing.

In December, Adobe reported a Q4 non-GAAP EPS of $4.27 and revenue of $5.05 billion, surpassing Wall Street estimates. The company also repurchased approximately 1.8 million shares during the quarter. With 112 hedge funds bullish on Adobe, this stock is seen as a promising investment opportunity.

5. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 122

Quarterly Revenue Growth: 11.30%

Salesforce, Inc. (NYSE:CRM) is a global provider of customer relationship management technology. The company's services include sales tools, data management, lead monitoring, progress tracking, and analytics. Salesforce also offers a platform for businesses to build custom apps, an online learning platform, and collaboration tools like Slack.

BofA has designated Salesforce as one of their top picks for 2024, highlighting the company's market share potential in the customer relationship management space. With 122 hedge funds bullish on Salesforce, this stock is viewed as a strong contender for investment.

6. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 127

Quarterly Revenue Growth: 15.20%

Microsoft Corporation (NASDAQ:MSFT) is a multinational technology company that develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services. Microsoft is known for its popular software products like Windows, Office, and Azure.

In recent years, Microsoft has experienced significant revenue growth, with a 15.20% quarterly increase. With 127 hedge funds holding stakes in Microsoft, this stock has proven to be a reliable choice for investors.

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

Number of Hedge Fund Holders: 137

Quarterly Revenue Growth: 14.90%

Amazon.com, Inc. (NASDAQ:AMZN) is a multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon is the world's largest online marketplace and is known for its wide range of products and services.

Despite being one of the largest companies globally, Amazon continues to experience significant revenue growth. With 137 hedge funds bullish on Amazon, this stock remains a popular choice among investors.

8. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 140

Quarterly Revenue Growth: 12.10%

Mastercard Incorporated (NYSE:MA) is a global financial technology company that provides payment processing services. Mastercard operates one of the most widely accepted payment networks worldwide, allowing consumers and businesses to make transactions efficiently.

In recent years, Mastercard has seen steady revenue growth, with a 12.10% quarterly increase. With 140 hedge funds holding stakes in Mastercard, this stock is viewed as a reliable investment option.

9. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 148

Quarterly Revenue Growth: 42.00%

Alphabet Inc. (NASDAQ:GOOGL) is a multinational conglomerate that focuses on internet-related services and products. Alphabet is the parent company of Google, and its services include search engines, online advertising technologies, cloud computing, and hardware products.

Alphabet has experienced substantial revenue growth, with a 42.00% increase in the last quarter. With 148 hedge funds holding stakes in Alphabet, this stock is considered a solid choice for investment.

10. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 152

Quarterly Revenue Growth: 21.40%

Apple Inc. (NASDAQ:AAPL) is a multinational technology company that designs, manufactures, and sells consumer electronics, software, and online services. Apple is known for its popular products like the iPhone, Mac computers, and Apple Watch.

In recent years, Apple has achieved significant revenue growth, with a 21.40% quarterly increase. With 152 hedge funds bullish on Apple, this stock remains a top choice for investors.

Investing in stocks can be a rewarding way to grow your wealth, but it's crucial to choose the right stocks. The 10 stocks mentioned above offer promising investment opportunities for beginners. However, it's essential to conduct thorough research and consider your risk tolerance before making any investment decisions. Remember, investing always carries some level of risk, and diversification is key to mitigating potential losses. Happy investing!