The year is swiftly coming to an end, making now an excellent time to set new investment goals and potentially expand your portfolio with companies likely to soar in 2024.

The stock market has been volatile over the last five years, with the COVID-19 pandemic sending countless stocks skyrocketing as homebound consumers invested in home entertainment and offices. Then, in 2022, macroeconomic headwinds triggered a sell-off that saw many companies lose the gains they'd made the year before.

Easing inflation and excitement over high-growth industries like artificial intelligence (AI) have allowed for a recovery this year, with the Nasdaq Composite index up 41% since Jan. 1. However, after last year's unexpected market downturn, it might be a good idea to invest in companies that are not only likely to flourish next year but also well into the future.

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Source Fool.com