Wall Street's Top Stock Picks for the Second Half of 2024

In 2024, technology stocks have been driving market strength, particularly within the Nasdaq 100 index, which has seen a 19% increase compared to the S&P 500's 15% gain. Nvidia has surpassed Microsoft as the most valuable public company. CNBC Pro identified Nasdaq 100 stocks with potential for further growth over the next 12 months, based on criteria such as analyst price targets suggesting at least a 20% upside and positive performance in the current year. Amazon and Marvell Technology are among the stocks expected to surge, with Amazon planning to enhance its voice assistant Alexa with AI features and Marvell benefiting from the AI boom. Looking ahead to the second half of the year, CNBC Pro screened for S&P 500 stocks forecasted to outperform. These stocks have analyst price targets indicating 20% or more upside potential and have already shown positive performance in 2024. Disney, Coterra Energy, and Chevron are highlighted as potential outperformers, with Disney's parks segment showing strong demand trends, Coterra Energy expected to rally by 26.5%, and Chevron trading below its 5-year average forward P/E ratio, suggesting room for growth. Analysts are optimistic about the future performance of these stocks, with positive ratings and expectations for significant gains in the coming months. Overall, the technology sector, particularly within the Nasdaq 100, has been a key driver of market strength in 2024, with specific stocks like Amazon and Marvell Technology expected to see significant growth. Looking ahead, S&P 500 stocks such as Disney, Coterra Energy, and Chevron are also poised to outperform in the second half of the year, based on analyst forecasts and positive performance trends. Investors are advised to consider these potential opportunities for future gains in their portfolios.