3 Growth Stock Picks That Will Add Prestige to Your Portfolio

Market Overview - The S&P 500 and Nasdaq reached record highs on June 6, driven by technology stocks, with a favorable environment for growth stocks due to backing off interest rates [1] - Economic indicators are strong, with the U.S. adding 272,000 jobs in May and a projected 3.1% real GDP growth for Q2 [1] Growth vs. Value - Growth stocks have consistently outperformed value stocks since the 2007-2008 financial crisis, supported by low interest rates [1] - Despite rising rates, the current economic conditions remain favorable for growth stocks [1] PDD Holdings (PDD) - PDD Holdings is expanding its reach beyond China, successfully entering the U.S. market with its platform Temu, which has gained traction through aggressive marketing [3][4] - The company reported a 124% year-over-year revenue increase in Q1, with adjusted earnings per American depositary share growing by 199% [4] - PDD's forward PEG non-GAAP ratio stands at 0.33, indicating it is a strong growth stock pick [4] Amazon (AMZN) - Amazon is highlighted as a key growth stock, benefiting from its leadership in e-commerce and cloud computing, with $49 billion in digital advertising revenue [6] - The company is expected to see substantial earnings growth due to reduced capital expenditures and increased cost efficiencies through automation and AI [7] - Analysts project earnings growth of 56% in 2024 and 26% in 2025, with a median price target of $221 [7] Shift4 Payments (FOUR) - Shift4 Payments has seen significant insider buying, indicating confidence in the company's future [8] - The company is projected to achieve 39% EBITDA growth in 2024, supported by a roll-up strategy in acquiring point-of-sale systems [8] - In Q1 2024, Shift4's SkyTab system experienced a 38% quarter-over-quarter growth in installs, contributing to a 50% increase in end-to-end payment volume [9] - The company is expanding into new verticals, including sports and entertainment, with notable partnerships [9]