The 3 Best Stocks to Buy in June 2024


  • The best stocks to buy deliver outsized gains to shareholders. 
  • Nvidia (NVDA): The stock just split on a 10-for-1 basis. 
  • CrowdStrike (CRWD): The cybersecurity firm’s earnings continue to be very strong. 
  • Deckers Outdoor (DECK): The maker of Hoka running shoes is giving Nike a run for its money. 
best stocks to buy - The 3 Best Stocks to Buy in June 2024

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We’re nearly halfway through the year and the stock market continues to rally. Year to date, the benchmark S&P 500 index has hit 25 all-time highs and is up a total of 13%. The market is being driven higher by strong corporate earnings, which were up an average of 8% in the year’s first quarter from the previous 12 months, and hopes that the U.S. Federal Reserve will lower interest rates.

Technology stocks continue to test record highs, growth stocks are outpacing value stocks and investors continue to favor large cap securities over small caps. How the second half of the year plays out is anyone’s guess. But right now, the three best stocks to buy in June can help lift a portfolio.

Nvidia (NVDA)

Nvidia technology company displayed on cell phone. NVDA stock
Source: gguy /

Nvidia (NASDAQ:NVDA) shares became much more affordable after a 10-for-1 stock split. Sure, the fundamentals of the company haven’t changed. But the cost to buy one share of the microchip and semiconductor company just went from $1,200 to $120. The current share price is about as low as investors will be able to buy Nvidia stock for the foreseeable future. This is, after all, a company that recently reported a 600% year-over-year rise in its quarterly profit.

The stock split occurs as Nvidia’s market capitalization tops $3 trillion, making the company the world’s second most valuable publicly traded concern after Microsoft (NASDAQ:MSFT). Additionally, analysts say the stock split could lead to Nvidia being added to the Dow Jones Industrial Average (DJIA), though no announcement has been made. Some analysts speculate that Nvidia could replace competing chipmaker Intel (NASDAQ:INTC) in the Dow 30 index.

Nvidia’s stock has rallied 30% higher since the stock split was announced on May 22, along with blockbuster first-quarter financial results. So far, in 2024, NVDA stock is up 150%.

CrowdStrike Holdings (CRWD)

Mobile phone with website of American software company CrowdStrike Holdings (CRWD) Inc. on screen in front of website. Focus on top-center of phone display. Unmodified photo.
Source: T. Schneider /

CrowdStrike Holdings (NASDAQ:CRWD) looks like a buy after the cybersecurity firm reported first-quarter financial results that beat Wall Street estimates. The company, which has distinguished itself among cybersecurity stocks, reported EPS of $0.93, above the $0.89 expected among analysts. Revenue totaled $921 million, up 34% from a year ago and ahead of estimates calling for $905 million in sales.

CrowdStrike’s free cash flow stood at $322.5 million at the quarter’s end, up 42% from $227.4 million a year earlier, and its subscription revenue grew 34% to $872.2 million. Regarding guidance, CrowdStrike expects revenue of $958.1 million to $961.2 million in the second quarter. The guidance is ahead of Wall Street forecasts of $955 million. Profits are forecast at $0.98 to $0.99 per share, above consensus forecasts of $0.91.

CRWD stock has gained 130% over the last 12 months, including a 41% increase this year.

Deckers Outdoor (DECK)

Deckers Outdoor (DECK) logo displayed on smartphone screen
Source: Swat

Some market observers say Deckers Outdoor (NYSE:DECK) is the new Nike (NYSE:NKE). Deckers is posting record financial results and seeing its stock run higher due to the rising popularity of the company’s Hoka running shoes. Deckers Teva sandals and Ugg boots are also posting strong sales. The result is that DECK stock is up 113% in the last 12 months, including a 55% increase this year.

The company recently knocked the cover off the ball with its Q1 earnings report, announcing EPS of $4.95, surpassing the consensus analyst estimate of $2.90. Revenue totaled $959.8 million, beating estimates of $885.04 million. Deckers Outdoor has posted double-digit revenue growth every quarter for the last four years and a more than threefold increase in its earnings per share. Sales of the company’s Hoka running shoes rose 34% from a year earlier in the most recent quarter.

DECK stock isn’t cheap, trading at more than $1,000 per share. But there are rumors the stock may also split soon.

On the date of publication, Joel Baglole held long positions in NVDA, MSFT and DECK. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.

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