Cash App has become one of the most popular mobile payment apps, allowing users to easily send and receive money. But beyond peer-to-peer payments, Cash App also provides a simple way for users to buy, sell and hold stocks. With fractional share investing, you can buy a slice of a stock for as little as $1. This makes Cash App a great platform for beginning investors looking to dip their toes into the stock market. In this article, we will explore some of the best stocks to invest in on Cash App in 2023.
Tesla remains a top choice for growth investors on Cash App
Electric vehicle maker Tesla (TSLA) has been one of the hottest stocks in recent years. While Tesla trades at a lofty valuation, it remains a favorite pick for growth investors. Tesla is expanding rapidly, with new factories under construction in Austin and Berlin. Demand for Tesla’s vehicles continues to significantly outpace supply. As production ramps up, Tesla should be able to sustain strong growth in deliveries and earnings. For investors seeking exposure to the electric vehicle and clean energy trends, Tesla provides a compelling way to invest.
Apple offers stability and growth potential
Tech giant Apple (AAPL) is a blue-chip stock known for its strong balance sheet and loyal customer base. While Apple stock may not seem flashy, it has quietly delivered huge gains for long-term investors. Apple continues to expand its services business through offerings like Apple Music, iCloud, Apple TV+ and more. With iconic products like the iPhone and Mac along with wearables like AirPods and the Apple Watch, Apple has a diverse revenue stream. For those seeking a stable, established company with growth potential, Apple is a great pick.
Microsoft remains a tech leader
Like Apple, Microsoft (MSFT) provides stability and growth as a mature tech company. Microsoft is evolving its business model, with a focus on cloud services and subscriptions. The Azure cloud platform and Office 365 productivity suite are driving growth. Meanwhile, the company still generates substantial profits from Windows and Office software for PCs. With a reasonable valuation and strong finances, Microsoft is positioned to continue growing in areas like cloud, artificial intelligence and gaming.
Disney has recovery potential
Media and entertainment giant Disney (DIS) has faced challenges during the pandemic, with its theme parks and movie business significantly disrupted. But as pandemic headwinds fade, Disney has an opportunity to rebound. Streaming service Disney+ now has over 130 million subscribers, providing a new growth driver. Disney has a deep library of intellectual property to leverage, from Marvel and Star Wars movies to theme park attractions. For investors betting on a Disney comeback, now may be an opportune time to buy the stock at a reasonable price.
Costco appeals to value and income investors
With its membership warehouse model, Costco (COST) offers discount prices on everything from groceries to appliances. Costco has cultivated fierce customer loyalty and benefits from strong renewal rates among its members. The company generates steady, growing cash flows that help fund regular dividends. Trading at a below-market P/E ratio, Costco is positioned as a stable, defensive stock. For investors prioritizing value and income, Costco checks the right boxes.
For investors looking to buy stocks using the Cash App platform, companies like Tesla, Apple, Microsoft, Disney and Costco represent some appealing options. With Cash App’s fractional share investing, you can gradually build a position over time. Consistently investing in quality stocks, rather than trying to time the market or chase the latest fads, is a prudent strategy for long-term success in the market.