5 Tech Stocks Offering Growth And Value In 2024: JPMorgan’s Top Picks

For investors seeking a blend of growth and value, here are the top 5 picks with JPMorgan’s review, rating, and price target on each:

Amazon.com Inc (NASDAQ:AMZN)

Overweight, PT $225, 27% Upside

Amazon stands as a market leader in e-commerce and public cloud, positioned well for future growth. With only ~10% of IT spend in the cloud currently, Amazon’s flexibility and dominance in both e-commerce and cloud services contribute to its multi-year margin expansion and Free Cash Flow (FCF) ramp. High-growth segments like AWS and Advertising further support margin expansion and FCF generation.

Google aka Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)

Overweight, PT $165, 19% Upside

Alphabet’s fundamentals are robust, ensuring it remains a driving force in the digital economy and Generative AI advancements. With a focus on innovation, particularly in Search and YouTube ads, Alphabet anticipates healthy growth. Non-ad businesses, including Cloud and YouTube subscription services, present additional growth opportunities. Confidence in Alphabet’s ability to innovate, control costs, and generate solid top-line growth remains high.

Meta Platforms Inc (NASDAQ:META)

Overweight, PT $535, 9% Upside

Meta Platforms operates in rarefied air with scale, growth, and profitability. Its massive reach and engagement drive network effects, making it a key player in AI and the Metaverse. Meta’s strategic focus and disciplined cost management contribute to a compelling valuation. The initiation of a dividend further enhances its appeal, opening up opportunities for potential investors.