With three months left until the end of 2024, it has been a good one for Apple (NASDAQ: AAPL) stock, which recorded a new all-time high (ATH) in July and nearly reached it again a couple of days ago, and with some analysts expecting it to hit a market capitalization of $4 trillion next year.
And while Apple certainly has a lot more room for growth in the coming 12 months, some other stocks have stood out for the potential to bring their investors substantial profit, for instance, possibly allowing them to turn an investment of just $100 into as much as $1,000 in 2025.
#1 Microsoft (MSFT)
As it happens, Microsoft (NASDAQ: MSFT) stock is not just Apple’s toughest competitor when it comes to the devices segment, software and application development, and gaming platforms but also its runner-up in terms of companies’ market cap and has briefly taken first place before.
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Recently, BMO Capital Markets praised Microsoft’s significant investments and leadership in artificial intelligence (AI) computing infrastructure and its vast product portfolio to meet growing demand, having retained the ‘outperform’ rating on MSFT stock, with a price target of $500.
Currently, the price of Microsoft stock stands at $418.16, which indicates a slight drop of 0.02% on the day, a more significant loss of 3.34% across the past week, having gained 2.30% over the month, and growing 12.75% year-to-date (YTD), as per data on October 2.
#2 Amazon (AMZN)
Meanwhile, not only has Amazon (NASDAQ: AMZN) demonstrated greater resilience than Apple to inflation challenges cutting into its corporate earnings, but its income flows are also more diversified, including web hosting services and an underlying online sales platform, possibly making it better future-proof.
Besides, Amazon recently launched Project Amelia, an AI-backed selling assistant that provides instant answers and advice to sellers, facilitating better customer assistance, as well as introducing Business Prime Rewards, giving these members the option to earn up to $1,000 annually on qualifying purchases.
For the time being, the price of AMZN stock amounts to $184.55, reflecting a daily decline of 0.49%, an accumulated drop of 4.05% over the past week but nonetheless advancing 4.62% on the month and gaining 22.99% since the year’s turn.
Conclusion
All things considered, the above stocks have strong foundations to bring their investors 10-fold profits in the upcoming year, positioning themselves as Apple’s worthy rivals. However, trends in the stock market can easily change, so doing one’s own research is critical.
