<div id="readability-page-1">Software stocks are some of the best investment options available for 2024 after a 28.2% gain in the technology sector drove them to excellent returns in the first half of the year. In the first half of 2024 the Nasdaq Composite Index, which is mostly weighted with technology and software stocks, rose by 18.6%. Over the next decade, the worldwide software market is expected to rise constantly. Software revenues in 2024 should hit $704.1 billion. Enterprise software that helps organizations manage their operations and processes is leading the way making up $295.2 billion of that overall value. The market is estimated to increase to $898.9 billion by 2029, representing a 5% compound annual growth rate (CAGR). The U.S. is responsible for a large portion of that value, at around $363.4 billion. Positive legislative changes have accelerated cloud migration and software sector expansion, therefore supporting the increase in value for software stocks as well. President Biden’s initiatives call for major infrastructure and technology expenditures. Software and technology companies depend on broadband development, which the American Jobs Plan largely targets. Should Trump win on Nov. 5, his government will prioritize U.S. software supremacy and innovation. Trump will support deregulation, and software companies would likely benefit from a more business-friendly environment and fewer regulatory expenses. Technology, demand for digital solutions and the shift to cloud computing mean it’s the right time to look at three “strong buy” software stocks with double-digit growth opportunity. <h2>Mastercard (MA)</h2> <div id="1671916"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: David Cardinez / Shutterstock.com</div>Mastercard (NYSE:MA) is one of the best software stocks to buy in the current climate given its retreat from March highs after cutting its forecast for 2024, despite its latest earnings report besting analyst estimates. Nevertheless, due to Mastercard’s market position and expansion, J.P. Morgan analyst Tien Tsin Huang advocates buying. Huang thinks Mastercard’s pricing approach and better performance than Visa (NYSE:V) will help it overcome short-term issues. Analyst consensus echoes much the same sentiment, with MA shares projected to have a 19% upside. Much of the upside is thanks to constant innovation from Mastercard. For instance, it recently added artificial intelligence-based prediction to Cyber Secure to identify and prevent fraud. This invention protects customers and the digital payment ecosystem by responding faster and more accurately to new risks. Mastercard has also added creative artificial intelligence (AI) technology to its systems to help them find card scams more easily. This new technology doubles the number of cards that are found to have been hacked. Additionally, Mastercard developed the Start Path Blockchain and Digital Assets initiative to assist businesses in addressing real-world challenges using blockchain. Finally, Mastercard created the Multi-Token Network for safe, extensible, programable digital assets and payments, leveraging blockchain projects to enhance its portfolio. Tokenized bank accounts allow real estate and carbon credit transactions in this network. <h2>Microsoft (MSFT)</h2> <div id="2917586"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: VDB Photos / Shutterstock.com</div>Investors are focused on Microsoft’s (NASDAQ:MSFT) Azure cloud computing division and significant AI technology investments as it gets set to disclose its newest results. In a period of economic uncertainty, investors want to know whether Azure’s expansion will make these expenditures worthwhile. This quarter, analysts projected $2.90 earnings per share (EPS). For the March 31, 2024 quarter, Microsoft’s EPS of $2.94 was above analysts’ estimates of $2.81. Above a projection of $60.86 billion, sales came in at $61.86 billion. Revenue increased 17% from the year before, while sales of Microsoft Azure soared by 31%. Microsoft Azure is second only to Amazon’s (NASDAQ:AMZN) Amazon Web Services branch. However, this disparity is quickly narrowing. Additionally, Microsoft’s $68.7 billion acquisition of Activision Blizzard is starting to pay off as gaming income jumped 51% in the third quarter of fiscal year 2024, mostly due to the merger. Microsoft is significantly investing in AI and cloud computing. Hence, MSFT is up 13% this year. Plus, given its efforts and close ties with OpenAI, analysts project a 20% increase. <h2>Intuit (INTU)</h2> <div id="2301634"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: T. Schneider / Shutterstock.com</div>In the third quarter of fiscal year 2024, Intuit (NASDAQ:INTU) surpassed sales and EPS projections. After this strong outcome, the corporation upped its fiscal year estimate. Sales are expected to rise 13% to between $16.164 billion and $16.2 billion, according to Intuit. An earnings beat for the fourth quarter in a row and an upped forecast mean INTU is worth considering among software stocks. Further boosting its appeal, Intuit has enhanced its QuickBooks Online system multiple times, adding tools meant to increase inventory control and back-office work efficiency for companies that use the product. Plus, Intuit is also focusing on mobile-driving analytics and has bought technologies from Zendrive. Intuit plans for this purchase to improve its AI capacity, especially in sectors such as consumer safety and financial services. Forrest Norrod, a leader in the AI space, is also now a part of Intuit’s board. This appointment complements the company’s focus on improving its AI capacity. Analysts have given Intuit a consensus rating of “strong buy,” with an average 12-month price target of $726.16, indicating a 14% upside from the current price of $633.57. Not bad for a company with a 10-year profitability record. On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. On the date of publication, the responsible editor did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.TechnologyGrowth Stocks </div>

INTU

Software stocks have shown excellent returns in the first half of 2024, driven by a 28.2% gain in the technology sector. The worldwide software market is expected to continue rising, with revenues projected to reach $704.1 billion in 2024. Enterprise software is leading the way, accounting for $295.2 billion of that value. Additionally, positive legislative changes, such as President Biden's infrastructure and technology initiatives, are expected to support the growth of software stocks. Three software stocks with double-digit growth opportunities are Mastercard, Microsoft, and Intuit.

The Top 3 Software Stocks to Buy Now: Summer 2024