Estimate Time5 min

Stock ideas for 2024

The S&P 500 just hit a new all-time high near 4,900, erasing all of the more than 25% bear-market loss from January 3, 2022 to October 12, 2022. US consumer confidence surged in the latest report to a 2-year high. Rate cuts are widely expected at some point in 2024. These and other factors provide good reason to be optimistic about stocks.

Of course, oil price shocks, potential earnings weakness, global instability, and other risks could halt the momentum markets had entering this year. But if you are looking for new ideas to ride this bull market, here are 5 thematic stock screens from's Stock Screener, plus the top 5 results for each.

Robotics & AI

One of the biggest investing themes now is artificial intelligence (AI), so much so that it helped propel tech stocks 60% in 2023. Since ChatGPT debuted in November 2022, chip makers, cloud computing services, and software companies have been among the market’s biggest gainers.

If you think this trend is still in its early stages, the Robotics & AI model strategies screen on can help you find investments that may be best positioned to ride the wave.

This model features companies that are involved in the design, construction, operation, and use of robots, and/or build AI for platform and technology solutions. US-based companies primarily comprise this model. Here are the top 5 results of this model, sorted by weight, as of January 25, 2024:

  • Nvidia () - 10.0%
  • Alphabet () - 9.9%
  • Adobe () - 7.3%
  • Advanced Micro Devices () - 6.0%
  • Intuitive Surgical () - 6.0%

Evaluating the results of a screen is a good first step after running one. Are they in line with what you might expect and do any of the results seem strange? If the output of a screen isn't generally what you expected and it doesn't align with your goals and risk tolerance, you may want to consider adjusting the filters or running a different screen. It's worth noting that all of the companies in this screen have significant exposure to AI and robotics, and also that they outperformed the market last year. If these types of investments are of interest, you may want to research further to see if they offer the type of value that you might be looking for as a next step.

Quality income

High interest rates have offered investors numerous choices across multiple asset classes an opportunity to generate income. Among stocks, it’s possible to search for investments that may generate potentially sustainable income.

If you are looking for income-focused stocks, the Quality Income strategies model screen scans cross sector for companies using multiple strong fundamentals and a heightened focus on yield.

The model invests only in companies with a combination of a positive exposure to positive cash-flow margin, ROIC, free cash-flow stability for non-banks & ROE, debt to assets for banks, and the highest exposure to income metrics (dividend yield). US-based companies primarily comprise this model. Here are the top 5 results of this model, sorted by weight, as of January 25, 2024:
  • Cisco () - 9.2%
  • IBM () - 9.1%
  • Texas Instruments () - 9.1%
  • Abbvie () - 4.5%
  • Blackstone Mortgage Trust () - 4.5%

An important aspect of utilizing screens is to consider if any of the results that you are interested in align with your specific goals and make sense within the context of your portfolio. The results of this screen span different industries with unique characteristics, ranging from high-growth sectors to defensive sectors, so you’ll want to ensure that any opportunity you are considering makes sense for you.

Biotech & drug discovery

Another trend that’s captured headlines has been excitement around emerging weight-loss drugs in the health care sector. In recent months, stocks of these drug producers have outperformed the market. Alternatively, some stocks of health care equipment makers that serve the diabetes market—such as makers of insulin pumps—experienced losses as investors became concerned over how weight-loss drugs might hurt long-term demand for diabetes devices.

If you think this trend could strengthen, the Biotech & Drug Discovery strategies model screen features companies within the pharmaceuticals, biotechnology, and life sciences industries that are focused on drug discovery and cures for illnesses and diseases. US-based companies primarily comprise this model. Here are the top 5 results of this model, sorted by weight, as of January 25, 2024:

  • Eli Lilly () - 6.4%
  • Johnson & Johnson () - 6.0%
  • Merck () - 5.5%
  • Abbvie () - 5.4%
  • Thermo Fisher () - 4.9%

A consideration when adding individual stocks to your portfolio is concentration risk within a particular sector or industry. Obviously, all of these results are health care stocks, and so you should consider the impact of adding any stocks to your overall investment mix that might impact your exposure to an individual sector.

Digital health

Whereas valuation may be a concern for other sectors, that’s not generally an issue for the health care sector in early 2024, and another (longer-term) trend within health care is the digitization of services.

If you are interested in exploring stocks at the forefront of health care digitization, consider the Digital Health strategies model screen. This model looks at companies that provide technology-enabled health care products and services including records management, connected devices, surgical robotics, and telemedicine. US-based companies primarily comprise this model. Here are the top 5 results of this thematic stock model, sorted by weight, as of January 25, 2024:

  • Intuitive Surgical () - 11.2%
  • Dexcom () - 7.6%
  • Veeva () - 6.8%
  • Resmed () - 6.2%
  • Insulet () - 5.1%

This screen is another example of potential concentration risk. Also, this theme has been out of favor with investors recently, along with much of the health care sector, and so you would want to do your research to determine if any of the opportunities generated by a screen like this can change their momentum.

EVs & future transportation

The global electric revolution continues to evolve, but there’s been a growing divide between winners and losers. Indeed, among electric vehicle makers, 2023 saw the biggest EV company outperform the market, while several smaller competitors became insolvent.

In this investing lane, being able to discern those that are best positioned may be particularly important, and the EVs & Future Transportation strategies model screen may help jumpstart your research. This model features companies engaged in the production of electric and/or autonomous vehicles or their components, technology or energy systems, or other initiatives that aim to change the future of transportation. US-based companies primarily comprise this model. Here are the top 5 results, sorted by weight, as of January 25, 2024:

  • Tesla () - 10.0%
  • Analog Devices (ADI) - 8.4%
  • Uber (UBER) - 6.2%
  • ON Semiconductor (ON) - 5.5%
  • STMicroelectronics (STM) - 5.5%

It’s worth noting that some of the results of this screen are not transportation companies. Some are the critical component suppliers of EVs and other methods of transportation. After running any screen, including this one, you should dive deeper into results you are interested in exploring. You can add additional filters to tailor the results as you’d like.

Stock screen tips

You can create different filters to find investing ideas that align with your objectives. Some screening criteria may be more relevant for certain sectors, industries, and companies than other criteria.

Regardless of your screening approach, more research is needed to determine if any screen result is right for you. You should fully understand the risks involved, and each investing opportunity should be considered within the context of a well-diversified investment strategy that conforms to your specific time horizon, objectives, and risk parameters.

Research stocks, ETFs, or mutual funds

Get our industry-leading investment analysis, and put our research to work.

More to explore

Find stocks

Match ideas with potential investments using our Stock Screener.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal. Indexes are unmanaged. It is not possible to invest directly in an index. The S&P 500® Index is a market capitalization–weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance. S&P and S&P 500 are registered service marks of Standard & Poor's Financial Services LLC. You cannot invest directly in an index.

The health care industries are subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability, and can be significantly affected by rapid obsolescence and patent expirations.

Past performance is no guarantee of future results. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies. The Fidelity stock screener is a research tool provided to help self-directed investors evaluate these types of securities. The criteria and inputs entered are at the sole discretion of the user, and all screens or strategies with preselected criteria (including expert ones) are solely for the convenience of the user. Expert Screeners are provided by independent companies not affiliated with Fidelity. Information supplied or obtained from these Screeners is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell securities, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy or approach to screening or evaluating stocks, preferred securities, exchange-traded products, or closed-end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from its use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation, and other individual factors, and reevaluate them on a periodic basis. Fidelity Brokerage Services LLC, Member NYSE,  SIPC , 900 Salem Street, Smithfield, RI 02917 1128834.1.0