As we inch closer to the end of the first quarter, it is time to gear up for an excellent year ahead with the top stocks to buy in Q1. The economic outlook is optimistic, and with the Nasdaq hitting all-time highs, there is a chance to take home solid gains. Whether you are a beginner investor or expanding your investment portfolio, snap up these stocks before the end of the quarter. The coming quarter could mean big moves and big money.

We can expect a rate cut in the second quarter. Established businesses that have already beaten expectations in recent quarterly results could start to ride higher. With that in mind, let’s look at the three stocks to buy in Q1 before they soar.

Visa (V)

There are multiple reasons to like the fintech company Visa (NYSE:V). One of the biggest industry players with a massive market share, Visa has an exceptional business model. It caters to over 100 million merchants and takes a fee from every transaction you make using the card. 

One big reason for optimism about the company’s future is the transition toward digitization. As more people replace cash with cards, Visa is set to benefit. 

Fundamentally, Visa is a solid business with an enviable balance sheet. In the first quarter results, the company saw a 9% net revenue growth to hit $8.6 million, and the payment volume was up 8%. 

The company has delivered market-beating returns with a modest dividend yield of 0.74%. Trading at $279 today, the stock is up 7% year to date and very close to the 52-week high of $286. The stock could go beyond $300 for the first time this year. 

The blue-chip stock is an industry leader and hasn’t disappointed investors. The company beat expectations time and again and held very well in the high inflationary period. It enjoys a strong industry advantage as the largest payment operator in the fintech space and is trusted by many. 

The growing competition is one thing to watch out for, but it can take years for any other company to achieve global domination, brand loyalty and network bandwidth. 

If you do not have Visa stock in your portfolio, now is the time to grab it. The company will benefit from the payment trends and could hit a new all-time high very soon. 

Alphabet (GOOG, GOOGL)

While Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) may seem obvious, buying it now is the best move. The company has a wide range of products dominating the industry, and with a strong economic outlook, this company could gain. Its biggest product, Google Search, is the top search engine. While the company has faced trouble with it recently, there is a slim chance of losing its share. 

Already a leader in the artificial intelligence (AI) industry, the company is driving growth through Google Cloud and has increased its spending in the segment. 

Although against the common perception, AI won’t hurt Alphabet’s business. Instead, it will adapt to the industry changes and implement the right features in Google Search to remain at the top of its game. 

In the recent quarter, the company reported a revenue of $86 billion, up 13% YOY. The operating income hit $23.7 billion, while the net income was $20.68 billion, up from $13.62 billion in the third quarter. While the numbers are impressive, the company hasn’t reached its potential and could do even better. 

Alphabet has an excellent balance sheet and generated a total of $307 billion in revenue in 2023, and it has enough cash flow to keep investing in new businesses and products. 

Trading at $133 today, the stock is highly undervalued and down 4% year to date, which is your chance to snap it up. The stock is out of the lows it hit in early 2023 and has regained ground, but still has a long way to go. 

Chevron (CVX)

Oil and gas giant Chevron (NYSE:CVX) has gained attention after the recent announcement that it will build the first solar-to-hydrogen manufacturing plant in California. Solar energy is gaining traction worldwide, and this project will generate hydrogen to help the country’s requirement for lower-carbon energy. While it is Chevron’s first commercial hydrogen project, it is a huge opportunity to expand and enter the hot emerging market. 

As one of the largest oil companies in the world, Chevron has a highly diversified business, and it handles everything from oil production to natural gas and processes them into fuels. It has a strong business mix and global presence, making it a highly resilient business. The company’s acquisitions keep it relevant and help build a strong position.

Even if oil prices decline, the company can sustain. But if the prices increase, Chevron could make strong gains. It generated $35.6 billion in operating cash flow in 2023, which helped increase the dividend by 8%. CVX is one of the best stocks to buy in Q1.

CVX stock is trading for $149 and has been flat since the start of the year. With a sold dividend yield of 4.36%, this is one stock to buy before the end of the quarter. Chevron is an evergreen stock to buy and hold for the coming years, and its entry into the hydrogen industry is just the beginning of another successful venture. 

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.