Five Overlooked Stocks to Watch in 2024 that Outshone Tech Giants in the Past Decade

In the realm of stocks, while technology giants continue to grab headlines with their volatility and potential upsides, there exists a cohort of stable performers that have quietly outstripped the market for over a decade. These five overlooked stocks offer investors a blend of reliability and growth potential, making them intriguing picks for 2024.

One such stock is CME Group, the world’s largest derivatives exchange operator, which has delivered a 10-year annualized price rise of 12.6%. Max Wasserman from Miramar Capital notes the company’s profitability and growth potential, especially in expanding derivative markets beyond traditional asset classes.

Nike, the renowned sports apparel giant, with a 10-year annualized price rise of 11%, is undergoing a turnaround phase. Jay Woods of Freedom Capital Markets highlights Nike’s efforts in cost-cutting, technology integration, and a renewed focus on direct-to-consumer sales to drive future growth.

Visa, the global credit card leader, has seen a 10-year annualized price rise of 19.4%. Morningstar praises Visa’s dominant market position and shareholder-friendly strategies like stock buybacks. The company’s strong financials and market position bode well for continued success.

NextEra Energy, a standout in the electric utility sector, has defied the sector’s typical performance trends with a 10-year annualized price rise of 13.4%. Burns McKinney from NFJ Investment Group lauds NextEra’s leadership in renewable energy and robust balance sheet, positioning it as a key player in the clean energy transition.

Sherwin-Williams, the largest paint and coatings producer globally, boasts a 10-year annualized price rise of 17.7%. With a focus on professional painters and strategic expansions, the company is poised to benefit from an upcoming housing boom. Spencer Liberman of Morningstar underscores Sherwin-Williams’ customer-centric approach and revenue growth trajectory.