My 4 Best Stocks to Buy Right Now

Although the market is still hitting record highs, many stocks are still good buys. The key isn't to look at where the market is now; it's to look at where some stocks may be heading if they can keep up their growth trajectory.

If these four can maintain their general direction, they'll continue rising faster than the market, which makes them excellent buys now.

1. Taiwan Semiconductor Manufacturing

Regardless of where you look in the tech sector, you'll find that highly sophisticated chips are within every device. It doesn't matter if a GPU is being used for training artificial intelligence (AI) models or the latest smartphone, they all have cutting-edge chips. There's a good shot that these chips are manufactured by Taiwan Semiconductor Manufacturing (NYSE: TSM), known commonly as TSMC, as it works with nearly all of the biggest tech players to produce their chips.

This positions TSMC nicely in today's tech-heavy environment. In fact, management believes it will grow revenue at a compound annual growth rate (CAGR) between 15% and 20% over the next "several years." That's market-beating growth, making it a company that every investor should consider owning.

Taiwan Semi is the most expensive stock by far in this group, trading at 28 times forward earnings.

However, with its long-term execution, market-beating growth, and industry-leading position, it has earned that premium. I think Taiwan Semi is a great buy here and will be a successful investment over the next few years.

2. Alphabet

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is likely better known as Google's parent company. Its dominance in the search market has resulted in a massive revenue stream, although it is a mature business and isn't growing nearly as fast as some of its peers.

However, Alphabet is also heavily invested in the generative AI tech race and has plenty of financial resources to make one of the best offerings in this space. Still, even with all of this upside from two industries that are slated to boom over the next decade, Alphabet's stock only trades for 21.2 times forward earnings. The most common index that Alphabet is compared to is the S&P 500, which trades for 23.5 times forward earnings.

That's a healthy discount to the market, even though Alphabet has consistently grown its earnings above 30% year over year for the past year. Alphabet stock has a strong value in a market full of expensive stocks, making it a great place to put cash.

3. Meta Platforms

Meta Platforms (NASDAQ: META) is similar to Alphabet, as most of its revenue comes from its social media platforms, like Facebook, Instagram, and Threads. This produces unbelievable cash flows, as its "Family of Apps" segment delivered an operating margin of 50% in Q2.