From Nasdaq.:



Companies that want to reach a $1 trillion market cap must operate in sectors with unprecedented growth. Three stocks stand out as strong contenders: ASML Holding NV, Meta Platforms, and Tesla.

ASML Holding NV is a European-based semiconductor company with a portfolio in lithography used in the manufacturing of semiconductors. The EUV lithography market is expected to see significant growth due to the rapid adoption of artificial intelligence related software/hardware infrastructure and the momentum of the electronics market.

Meta Platforms has been one of the best performing technology stocks for 2023, with strong Q3 2023 results showing a 163% YOY increase in net income. As Meta’s cost-cutting and generative AI strategy goes into full effect, it remains a top growth stock for 2024.

Tesla, despite slower EV sales volume and other challenges, is expected to see growth in FY24, with analysts projecting a 20% YOY increase in top line revenue. The company’s expansion plans for a new gigafactory in Mexico and their booming energy storage business, as well as advancements in FSD technology and the upcoming Cybertruck release, make it a promising choice for reaching the $1 trillion status.



Read more: 3 Growth Stocks Set to Reach $1 Trillion Status