Top 10 Best Stocks to Buy Now: Sep 2023

Everyone wants a hack to find the best stocks to buy right now.

Hate to burst your bubble, but there isn’t one. At the end of the day, you’re the one who has to live with your investment decisions — so it’s in your best interest to do your own due diligence before plunking down your cash on any ticker.

That said, plenty of trusted pros do have opinions on the top stocks to buy now — and you can use that information to make more informed choices.

Why should you have to do all the hard work? I’ve scoured the internet to find some of the best stocks to buy now, according to experts. Let’s go:

At-a-Glance: The Best Stocks to Buy Now*

What are the best stocks to buy right now? According to experts, these 10 stocks are worth watching:

• JPMorgan Chase (NYSE: JPM)
• Wells Fargo (NYSE: WFC)
• McDonald’s (NYSE: MCD)
• Disney (NYSE: DIS)
• Enphase Energy (NASDAQ: ENPH)
• Berkshire Hathaway (NYSE: BRK.B)
• Verizon (NYSE: VZ)
• Leggett & Platt (NYSE: LEG)
• Salesforce (NYSE: CRM)
• Amazon (NASDAQ: AMZN)

*According to experts. Your investments are solely your responsibility. Your capital is at risk.

Top Stocks to Buy Now: Before You Trade

As I said earlier, there’s no shortcut to stock market success. You’re responsible for your own trades, so it’s worth taking the time to “build a case” for every trade.

As such, here are a few best practices that every investor should keep in mind before trading:

Consider the market

When it comes to investing, market conditions matter. A lot. For instance, is the market in a sharp downtrend? It might not be the time to enter a new position. In general, the best time to invest is when the market is in a definite and confirmed uptrend.

Have a plan in place

Before you take a position in a stock, take a little pause and consider your objectives. First, why do you think it’s a good idea to take a position? Second, do you want to put a cap on potential losses — and if so, what’s your “sell” price?

Don’t trade solely based on alerts or stock picks

 I know, weird thing to say on a stock watchlist. But here’s the thing. A stock pick — even an expert stock pick — should never be taken as a blind “buy” signal.

You don’t know what skin they have in the game (though, for the record, I do not hold positions in any of the stocks mentioned in this article).

You don’t know what criteria they’re looking for. In short, there’s a lot you don’t know. So while you can use stock picks as a guide, back them up with your own research.

May 2023: Top Stocks to Buy Now (and Why)

What are the best stocks to buy right now — and why? I checked out several of the top watchlists and resources so you don’t have to. Here’s what I found:

1. JPMorgan Chase (NYSE: JPM)

After tumbling into free-fall, First Republic Bank was taken over by the FDIC and then acquired by JPMorgan Chase (NYSE: JPM). That fact alone has brought a ton of attention to the banking giant.

Check out the chart and what happened the day the acquisition was announced:

According to Zacks, JPMorgan Chase (NYSE: JPM) is a buy. But it’s not just because of the flashy news.

According to Zacks research, JPMorgan Chase is rated as a Zacks Rank 2, and they expect the banking stock to deliver an above-average return relative to the market in the coming months.

2. Wells Fargo (NYSE: WFC)

Like many banks, Wells Fargo (NYSE: WFC) had a tough March. But according to Morningstar, that could change in the near future.

Why? First off, Wells Fargo isn’t a regional bank — it’s one of the big guys, ranking not far behind JPMorgan Chase.

Next, WFC beat first-quarter estimates, even during a very uncertain time in the banking sector.

Additionally, the bank has a lot of expense-saving projects in the pipeline, which could increase the stock’s appeal.

At writing, the stock is trading in the $40 range; check out the 1-month chart below. That’s significantly below Morningstar’s $58 fair market value estimate…

While these factors might not add up to a strong buy right this second, they definitely make this stock worth watching in the near future.

3. McDonald’s (NYSE: MCD)

Robinhood Snacks (a newsletter offered by discount broker Robinhood) has been lovin’ this stock! Here’s why.

In late March, McDonald’s (NYSE: MCD) reported a 63% surge in profits — turns out, inflation can’t keep people away from their McNuggets.

Just check out the chart:

MCD isn’t the only fast-food giant that could be poised for continued growth. This month, other fast food companies like Yum Brands (NYSE: YUM) (the parent company of KFC and Taco Bell) and Shake Shack (NYSE: SHAK) will also report their earnings.

4. Disney (NYSE: DIS)

On the one hand, Disney (NYSE: DIS) is embroiled in a lawsuit with Ron DeSantis — and the stock market doesn’t like uncertainty.

On the other hand, DIS stock had a big boost on Friday, April 28 — possibly as a sympathy play to Comcast (NASDAQ: CMCSA), which reported strong first-quarter earnings. For that reason, Benzinga put DIS on its  “stocks to watch” list on May 1.

Disney’s earnings are up on May 10, and investors are definitely watching and waiting. Disney has had a lot of shake-ups recently, so it’s going to be interesting to see the market’s reaction.

5. Enphase Energy (NASDAQ: ENPH)

You’re probably familiar with the stocks mentioned so far on this list — maybe not so much with Enphase Energy (NASDAQ: ENPH).

Quite honestly, the chart doesn’t really “sell” the stock, which had a pretty big drop after its lackluster first-quarter earnings report.

However, it was recently featured in a Motley Fool video and article as a stock to watch. Why?

Despite its recent drop, the stock is still up over 400% over the past three years. So … is it worth buying on the dip? According to Motley Fool, it’s a watch — but be prudent.

6. Berkshire Hathaway (NYSE: BRK.B)

There’s a reason why Berkshire Hathaway (NYSE: BRK.B) is so frequently a “buy” for just about every stock service — including a recent feature on Motley Fool’s Stocks to Watch in May 2023.

Actually, there are several reasons.

First, Berkshire owns a ton of different businesses, including but not limited to Dairy Queen, Duracell, and Geico.

It also has a huge portfolio of stocks including Apple (NASDAQ: AAPL), Chevron (NYSE: CVX) and Coca-Cola (NYSE: KO) — many of which were chosen by Warren Buffett, who still does the lion’s share of the company’s investing.

The company’s massive size and diversity make it a great stock to consider for patient investors.

7. Verizon (NYSE: VZ)

Seeking Alpha has a ton of free resources for investors — including commentary on stocks to watch for the month.

One of the most recent picks featured on the site? Verizon (NYSE: VZ).

According to Seeking Alpha, the stock’s low forward P/E ratio and“juicy yield” make it a watch. No, Verizon might not be a rapid growth company, but the current yield is good. You can check out our Alpha Picks review to learn more about how Seeking Alpha chooses stocks.

8. Leggett & Platt (NYSE: LEG)

In the same Seeking Alpha article mentioned above, Leggett & Platt (NYSE: LEG) is also mentioned.

Despite exploding during 2020, the mattress market has been looking dismal recently.

However, as Seeking Alpha notes, the dividends are still good. And despite saying bye-bye to Bed Bath and Beyond, the bedding market could be on the up, with some positive projections for continued growth.

9.  Salesforce (NYSE: CRM)

During the first week of May, Salesforce (NYSE: CRM) got top billing on the Zacks “top stock picks” list.

This CRM (customer relationship management) company has been crushing earnings — it beat the Zacks Consensus Estimate for the past four quarters. Check out the 1-year chart:

It’s also one of the most-searched stocks on the Zacks stock research platform.

While the share price has increased over the past year, Zacks still has conviction that it could outperform the market in the near future.

10. Amazon (NASDAQ: AMZN)

You might think Amazon (NASDAQ: AMZN) is as big as it possibly could be. Nope.

It was featured on Motley Fool’s stocks to watch list for May, because as they see it, the e-commerce leader is just getting started.

After all, E-commerce still only accounts for 15% of retail sales in the U.S. — so Amazon’s empire has room to grow.

Plus, it’s part of the actively growing cloud industry, which is projected to quadruple by 2030 into a $1.6 trillion (yes, with a ‘t’) market. Plus, the company has plenty of other arms, like groceries and healthcare, which are likely to continue growing.

Best Stocks to Buy Now: The Final Word

There are literally thousands of stocks out there. What are the best stocks to buy now?

The truth is that there are no guarantees in the stock market. The market is constantly changing, as are the factors that play into stock prices.

That said, this list includes a ton of great watches culled from top investing resources — so consider keeping them on watch. But remember — you alone are responsible for your investment decisions. So be sure to do your own research before you buy any stock.

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