With 2023 underway, many investors are looking for the best stocks to buy this year that have strong growth potential. For those using Cash App to invest, there are some standout options. In this article, we will explore 3 of the top stocks to consider adding to your portfolio if you want exposure to tech innovation, the clean energy transition and e-commerce trends. These stocks represent leaders in their respective sectors that are poised for further expansion. Read on for an in-depth look at why these stocks should be on your radar for 2023.
Tesla remains a top pick for EV and autonomous driving exposure
As the undisputed leader in electric vehicles (EVs), Tesla (TSLA) should be near the top of any investor’s list of stocks to buy on Cash App in 2023. Tesla produced over 1.3 million EVs in 2022 and deliveries grew 40% year-over-year. The global transition to EVs is accelerating and Tesla is leading the charge with its cost and technology advantages. Its Gigafactories spanning the globe give it unmatched production capabilities. Beyond EVs, Tesla’s full self-driving software also makes it a key player in the autonomous vehicle revolution. Competition is growing, but Tesla maintains a multi-year lead over rivals. For investors seeking exposure to two high-growth tech trends – electric vehicles and self-driving cars – Tesla checks all the boxes.
Amazon remains an e-commerce leader despite economic uncertainty
While 2023 brings a murky economic outlook, e-commerce stalwart Amazon (AMZN) looks poised to continue taking market share even in a potential consumer spending slowdown. Amazon leverages its Prime subscription base of over 200 million members to drive recurring revenue through member fees and purchase activity. It also dominates the cloud computing industry with its market-leading AWS segment. Cloud adoption should continue growing at a double-digit pace even in an economic downturn as businesses seek to cut costs and boost efficiency. Amazon’s leadingpositions in two essential tech sectors make it a reliable long-term investment.
Nvidia powers AI, graphics and the metaverse – key tech trends
At the intersection of artificial intelligence (AI), graphics processing and the metaverse sits NVIDIA (NVDA), one of the most innovative tech companies today. Its graphics processing units (GPUs) power everything from video games to AI to autonomous vehicles. In particular, Nvidia products dominate the market for training AI models – an essential workload as AI permeates more industries. As the metaverse develops, Nvidia’s Omniverse platform also positions it lead the shift to 3D simulation and design. Despite economic challenges, these long-term secular growth drivers should propel Nvidia’s revenue higher over time. For investors seeking exposure to AI, graphics innovation and the metaverse, Nvidia is a top pick.
For Cash App investors seeking innovative stocks with strong growth runways, Tesla, Amazon and Nvidia represent some of the best opportunities out there in 2023 and beyond. Their leadership in EVs, e-commerce, cloud, AI and graphics should drive gains for years to come.