Only Have $1,000 to Invest? Buy These 3 Stocks Right Now

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"It takes money to make money." While that used to be true on Wall Street, it is no longer the case. Over the past few decades, the democratization of investing has put the stock market within reach of virtually all Americans.

The Federal Reserve says a record 54% of U.S. families own stock, either directly through a brokerage account or indirectly via a retirement plan or similar investment vehicle. That percentage will likely grow as barriers to buying stocks fall. One of the most recent examples was Robinhood Markets ( NASDAQ:HOOD ) leading the charge towards eliminating transaction fees on buying and selling stock.

That's important because if you only have a little money to invest, you can now have all of your money going to work for you. So if you have just $1,000 to put into the stock market, and you don't need it for bills or emergencies, the three stocks below are terrific ones to buy right now.

Key Points About This Article:

• Stock investing is available to more people than ever before as barriers to trading fall and a record 54% of U.S. families own stock.
• Even for investors with little money to invest, all of their money can begin working for them right away.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report . It features a software stock we’re confident has 10X potential.

Pinterest (PINS)

Pinterest website on tablet computer

Advertisers go where the consumers are. Although Meta Platforms ( NASDAQ:META ) has 3.27 billion users across its three social media platforms helping to generate $38 billion in ad revenue, Pinterest ( NASDAQ:PINS ) is the better destination for advertisers.

The ideas collation website has 522 million monthly active users , up 12% year-over-year. They signal to advertisers projects they want to spend money on. Whether it is a small craft idea or a major home renovation, advertisers can zero in on prospective buyers of their products. It is a better return on investment than using a scattershot approach to reach potential customers.

Pinterest revenue jumped 21% in the second quarter to $854 million. It also continuously improves advertiser tools to create and measure the effectiveness of their ad campaigns, attracting more advertisers to the site. With losses dramatically narrowing, Pinterest will turn profitable and should enjoy a continued run higher.

Intuitive Surgical (ISRG)

Doctor using an Intuitive Surgical da Vinci robotic surgery device

Surgical robot maker Intuitive Surgical ( NASDAQ:ISRG ) is up 44% in 2024 and 60% higher in the past 12 months as the ongoing adoption of robotics spreads worldwide. Its installed base of da Vinci surgical systems grew 14% in the second quarter to 9,203 leading to a 17% increase in the number of procedures performed. Revenue hit more than $2 billion in the period, up 14% year-over-year.

While certain procedures will see deceleration in their growth rates over time as penetration reaches a zenith, the global market for robotics surgery will greatly expand beyond the 2 million procedures performed in 2023. Moreover, new uses for the systems on different problems, such as soft tissue injuries, will open up completely new opportunities for Intuitive Surgical.

It recently launched its next-generation da Vinci unit and placed 70 platforms in the quarter. Expect this number to grow. With few effective competitors to challenge the company's dominance, and demand for robotic surgery growing globally, ISRG has virtually limitless potential.

Broadcom (AVGO)

Man and woman looking a network system in data center

Chipmaker Broadcom ( NASDAQ:AVGO ) can no longer be seen as a smartphone semiconductor company. Having directed its attention to data center infrastructure, including Ethernet switching and routing silicon, Broadcom is quickly becoming a critical supplier to the industry.

Artificial intelligence chip sales are booming. Total revenue shot 43% higher in the second quarter, mostly driven by inclusion of the VMWare acquisition, but with the balance coming from AI. Without VMWare, organic sales grew 12%.

Yet Broadcom saw a 35% increase in AI chip revenue, which led it to increase its full-year sales forecast by $1 billion to $51 billion. Management is now guiding its AI business to more than $11 billion in sales for fiscal 2024, up from $10 billion. It is quite likely Broadcom is being conservative with its guidance and will blow through these projections.

And let's not forget its wireless business. It remains an important supplier to Apple ( NASDAQ:AAPL ), and exclusively sells specialized thin-film bulk acoustic resonators filters for the iPhone. With the newest models due out soon, analysts anticipate the new AI-enhanced iPhone will trigger a new smartphone upgrade cycle .

Broadcom is also a major software seller, as its VMWare acquisition attests.This triad of opportunity will keep AVGO stock moving higher.

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