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2 Red-Hot Growth Stocks to Buy in 2024
The U.S. stock market seems to have heaved a sigh of relief after the Federal Reserve kept the benchmark interest rate unchanged in its latest policy meeting. Further, on the back of a faster-than-anticipated drop in inflation, the central bank seems to be planning for an interest rate cut of 75 basis points in 2024. The U.S. economy also seems to have missed the bullet of a severe recession and is on a moderate growth path in the fourth quarter, driven mainly by a rebound in retail sales and a strong labor market.
All this bodes well for the overall investor sentiment on the stock market. With the high possibility of a continued bull rally in the coming months, here’s why Palantir (PLTR -3.90%) and Meta Platforms (META -0.31%) can prove to be attractive picks for retail investors in 2024.
1. Palantir
Shares of data analytics company Palantir soared by almost 176% so far in 2023. These gains are impressive, especially since the stock has seen a significant pullback in recent times, partly driven by a bearish analyst report from William Blair.
In early December 2023, analyst Louie DiPalma raised questions related to Palantir’s $458 million multiyear contract with the Army and cited a high possibility that the renewed contract may be significantly lower in value than the original one. The analyst cites “data ownership” as one of the potential reasons for this move since the company plans to leverage customer data to train its AI models. Palantir’s recent announcement of getting a one-year extension to the contract, valued at $115.04 million, seems to have partly improved investor sentiment.
Despite the negative press, the renowned founder and CEO of Ark Invest, Cathie Wood, continued to accumulate this stock. Wood purchased 1.7 million shares across three exchange-traded funds (ETFs) from Dec. 6 to Dec. 15. The strong confidence in the company’s future growth prospects is not without a reason.
Although the government sector makes up nearly 55% of Palantir’s total revenue, commercial clients are fast becoming a major revenue source. In the third quarter, government revenue grew by 12% year over year to $308 million and commercial revenues were up 23% year over year to $251 million. Furthermore, while there have been concerns with the Army’s data contract, the remaining government business is mostly sticky since these contracts are secured over a long period and involve significant trust between partners. A diversified client base increases the resilience of the company in a tough macroeconomic environment.
In the current tumultuous geopolitical environment, Palantir also stands to benefit from increased demand for intelligence services from military and defense agencies across the world. The company is also rapidly securing business in international markets, as evidenced by a 21% year-over-year jump in international government revenue to $78 million and a 15% year-over-year rise in international commercial revenues to $134 million.
Finally, the recent launch of the Artificial Intelligence Platform (AIP) can also prove to be a major growth catalyst for Palantir. AIP enables Palantir’s clients to leverage the power of large language models (LLMs) in addition to existing machine learning algorithms on its proprietary data, to derive insights and aid informed decision making. With the AI market expected to surge from $207.9 billion in 2023 to $1.85 trillion in 2030, Palantir’s cutting-edge AI software is well positioned to capitalize on this long-term trend.
2. Meta Platforms
After multiple painful cost-cutting initiatives, including slashing jobs, canceling low-priority projects, and reducing capital expenditure spending in 2022 and 2023, social media giant Meta Platforms (META -0.31%) seems to be finally recovering. Shares of the company have gained by 190% so far in 2023. Yet, there are many reasons why the company can continue to soar in 2024.
With a user base accounting for nearly 40% of the global population, Meta’s family of apps (which includes Instagram, WhatsApp, Messenger, and Threads) already wields considerable influence in the digital advertising space. In 2023, these platforms together generated $93.9 billion in revenue and an impressive $41.8 billion in operating profit — mostly from digital advertising.
Further, under CEO Mark Zuckerberg’s leadership, Meta is transforming itself into an AI innovation powerhouse by reallocating resources to AI projects, deprioritizing non-AI projects, and investing significantly in generative AI initiatives such as the Llama 2 and Llama 3 large language models. The company is leveraging its superior AI capabilities to increase user engagement by suggesting relevant and curated content and to attract new advertisers by helping them create effective advertisements on its platforms.
Meta is also successful in developing new revenue streams. To that effect, the company converted its short-video content format Reels from a headwind to a modest revenue tailwind for 2024. Meta also focuses on monetizing its 2 billion WhatsApp user base with Click-to-WhatsApp advertising and paid messaging services.
Considering its broad user base, which gives it high bargaining power with advertisers, AI initiatives, and new monetization avenues, Meta seems to be a compelling pick for 2024.
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Manali Bhade has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms and Palantir Technologies. The Motley Fool has a disclosure policy.
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12 Proven Methods to Make Money Blogging in 2024
This is a contributed article.
The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:
1. Embrace Niche Expertise:
Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.
2. Content is King (and Queen):
High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.
- Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
- Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
- Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.
3. The Power of SEO:
Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.
- Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
- Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
- Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.
4. Monetization Magic: Affiliate Marketing
Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.
- Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
- Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
- Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.
5. Display Advertising: A Classic Approach
Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.
- Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
- Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
- Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.
6. Offer Premium Content:
Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.
- Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
- Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
- Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.
7. Coaching and Consulting:
Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.
- Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
- Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
- Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.
8. The Power of Community: Online Events and Webinars
Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.
- Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.
9. Embrace the Power of Email Marketing:
Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.
- Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
- Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
- Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.
10. Sell Your Own Products:
Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.
- Identify audience needs: Develop products that address the specific needs and desires of your target audience.
- High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
- Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.
11. Sponsorships and Brand Collaborations:
Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.
- Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
- Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
- Align with your niche: Partner with brands that complement your content and resonate with your audience.
12. Freelancing and Paid Writing Opportunities:
Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.
- Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
- High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
- Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.
Conclusion:
Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.
Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.
Image Credit: DepositPhotos
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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
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Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
