Published on 8 Mar 2024 on Insider Monkey via Yahoo Finance
11 Best Engineering Stocks to Buy For 2024
In this piece, we will take a look at the 11 best engineering stocks to buy for 2024. If you want to skip our introduction to the engineering and construction industry, known for its high technology and high capital expenditure, then you can take a look at the 5 Best Engineering Stocks to Buy for 2024.
If there's one thing that can be said for sure, it's that engineering is responsible for most of the technological achievements of the human race. The way we live and work has changed significantly over the course of the past century, aided by advances in transportation that see thousands of aircraft take to the skies daily and 24/7 electricity ensured by heavy duty power generators that use fossil fuels or green energy sources such as solar plants and windmills.
While engineering is also used to refer to software engineering and by extension the work of firms such as Microsoft Corporation (NASDAQ:MSFT) and Meta Platforms, Inc. (NASDAQ:META), typically, engineering stocks are those that deal with heavy duty industrial grade products or serve the needs of the construction industry. For instance, one of the most well known engineering stocks in the U.S. is the industrial giant General Electric Company (NYSE:GE). It makes a wide variety of advanced products such as turbines and jet engines, and with a market capitalization of $167 billion, the stock is just a couple of catalysts shy of transforming itself from a large cap to a mega cap.