Cash App isn’t your regular mobile payment service. It certainly has all the basic features you could ask for—send money, receive money, and save money—but it also has a neat “invest” feature that lets you invest in large companies for as little as $1.
What’s a Good Stock to Invest in on Cash App? The best stocks to invest in on Cash App for 2023 are Apple Inc., Uber Technologies, Inc., Square, Inc., PayPal Holdings, Inc., and Alphabet Inc.
Currently, the service supports approximately 1,600 stocks. But if you only had to choose one, what’s a good stock to invest in on Cash App?
Read on to learn more about these stocks and choose the right investment for you!
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- Cash App Stock Pros and Cons: Is Cash App Good for Stocks Investing?
- How Does Buying Stock on Cash App Work?
- How to Make Money off Cash App Stocks?
Best Stocks to Invest In on Cash App for 2023
Here are some of the best stocks you can invest in today:
1. Apple Inc. (AAPL)
Apple Inc. is one of the largest technology companies in the world, known for its innovative electronics, software, and online services.
It has seen robust growth over the past few years, with sales rising from $156 billion in 2012 to just under $400 billion in 2022. This figure is expected to increase by 18%—at least—over the next decade.
As an investment, Apple is well suited for those who have the ability to withstand long-term time horizons and volatility. Since the company is so massive, it presents a great case for long-term investment.
Apple Inc.’s hedge fund holders increased from 120 at the end of September 2021, to over 150 at the beginning of 2022.
2. PayPal Holdings, Inc. (PYPL)
Everyone has heard of PayPal. It’s by far the largest non-bank lender in the world, with over $52B in assets as of March 31, 2022. It’s one of the many brands that fall under PayPal Holdings, Inc., alongside Venmo, Zoom, Hyperwallet, and Honey to name a few.
With over 140 hedge fund holders, PayPal Holdings, Inc. has a strong track record in terms of investment growth. It’s one of the most profitable companies in the world and is expected to report between $3.80 to $3.90 non-GAAP earnings per share in 2022.
3. Uber Technologies, Inc. (UBER)
Operating in approximately 72 countries and 10,500 cities, Uber is one of the most respected mobility service providers across the continent. So, it’s no surprise that it performs impressively well in terms of stocks.
The rate of the company’s growth is expected to rise meaningfully in the next couple of years, with the forecast of 55% revenue growth at the end of 2022.
It’s worth investing at its current low valuation, so don’t miss out on the potential gains you’ll receive when the market value increases.
4. Square, Inc. (NYSE: SQ)
Founded in 2009, Square, Inc. is a financial service company that provides merchants with an array of services and products to fulfill sales transactions, manage inventory, finances, and staff, employ leading market tactics, and more.
According to CNN reports, Square, Inc.’s stock is expected to rise over the next 12-month period. It has been profitable thus far on a GAAP basis, with revenue growth of about 9% in 2022. It’s believed to rise 249% over the next five years.
5. Alphabet Inc. (NASDAQ: GOOGL)
Alphabet Inc. is the parent company of Google, Google Fiber, Verily, Isomorphic Labs, DeepMind, and many other big-name companies.
With such powerful brands under its name, Alphabet Inc. is a safe long-term investment. It ranks 5th on Yahoo! Finance’s list of Most Popular Stocks Among Hedge Funds with 158 hedge fund holders and has consistently delivered at least a 10% return on stocks.
It rivals the stock increase of Amazon.com Inc. (AMZN), Apple Inc. (AAPL), and Microsoft Corp. (MSFT).
How to Start Investing In Cash App?
Once you’ve picked the company you’d like to invest in, follow these steps to start investing:
- Log in to Cash App.
- On your home screen, tap on the investing tab.
- Scroll down the list of companies or tap the search bar and manually type in the company name or ticker symbol.
- Choose the company you want to invest in and press “Buy.”
- Enter the amount you want to invest.
- Follow the on-screen instructions and verify your personal information (full name, date of birth, mailing address, and last four digits of your SSN).
- Finalize the transaction by entering your PIN or Touch ID.
Cash App stocks are purchased with the funds available in your Cash App balance. If you’ve invested more than the amount available in your balance, the remaining amount will be debited from the debit/credit card you’ve linked.
You can find recent investments by clicking on “My Portfolio” on the Cash App home screen.
Is There an Auto Invest Option on Cash App?
If you’ve decided to invest long-term in a specific company, you can opt for an Auto Invest option that occurs automatically over a set course of time.
This is useful when you want to invest a portion of your paycheck on a consistent basis without having to manually do it every time.
It’s also for when you want to spread out your buys to reduce the impact of a single day’s price on the overall entry price.
Here’s how to set up auto-invest in Cash App:
- On your home screen, tap on the investing tab.
- Select the company you want to invest in and tap on “Buy.”
- Before entering the amount, tap on the drop-down menu that says “Standard One-Time Order.”
- Tap on “Auto Invest.”
- Select one of the three options available: Daily, Weekly, or Every Two Weeks.
- Tap “Done.”
- Add the amount you want to auto-invest in, with a minimum amount of $10.
- Tap “Next,” then “Confirm.”
As long as you have the Auto Invest option active, it’ll keep investing in your selected company until you manually cancel the request.
This concludes this article on what’s a good stock to invest in on Cash App!
The best stocks to invest in at the moment (and most likely in the near future) is Apple Inc. (APPL), PayPal Holdings, Inc. (PYPL), Uber Technologies, Inc. (UBER), Square, Inc. (NYSE: SQ), and Alphabet Inc. (NASDAQ: GOOGL).
All these companies have a good track record and are a more or less safe long-term investment.