The stock market's blistering run over the past year has made me a much more cautious investor. With the S 500 bumping up against its all-time high and many stocks trading at frothy valuations, I've been much more selective in buying stocks. Instead, my focus has been on building up my cash position and watch list to capitalize on a future pullback.

However, I've still been able to find a few compelling investment opportunities as stocks have marched higher. One of my most recent purchases was a few more shares of (NASDAQ: SBUX). Here's why I took another sip of the coffee stock.

Starbucks is the largest coffee chain in the world and ended its fiscal 2024 first quarter with 38,587 stores. However, it still has lots of growth ahead.

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Source Fool.com