Best Cash App Stocks

Stock investing allows individuals to build wealth and receive cash flow from dividend-paying investments. Cash App, owned by Block Inc. (NYSE: SQ), is one place you can go to buy stocks and save up for retirement. The app lets you invest in stocks, but some stocks are better than others. This list details some of the best Cash App stocks for people looking to diversify their portfolios.

10 Best Cash App Stocks

A diversified portfolio gives you more opportunities to increase returns and extra protection from downside risk. These 10 Cash App stocks are some of the top choices to consider.

1. Apple Inc. (NASDAQ: AAPL)

Apple enjoys high profit margins from its iPhones, MacBook products, iPads, wearable devices and other offerings. The company is closing in on a $3 trillion valuation and is Warren Buffett’s largest holding. Apple’s board authorized a $90 billion stock buyback in Q1 2023.

2. NVIDIA Inc. (NASDAQ: NVDA)

NVIDIA is a semiconductor company that finds itself in the center of the AI boom. Artificial intelligence tools need custom-made AI chips to operate smoothly, and NVIDIA is the top producer. Shares surged in the first quarter on strong guidance for the second quarter. NVIDIA’s share price has tripled in 2023, and the company has a valuation of over $1 trillion.

3. Shopify Inc. (NYSE: SHOP)

Shopify is an e-commerce company that provides small businesses and large corporations with online stores. Shopify has an app store filled with valuable resources that make it difficult for businesses to part ways with the e-commerce giant. Shopify recently sold off its logistics business and reported a surprise profit in the first quarter of 2023. Shopify’s share price rose to astronomical levels in the last quarter of 2021 before crashing in 2022. The company has been leading a sustained recovery so far in 2023, with shares up by over 70% year-to-date.

4. Visa Inc. (NYSE: V)

Visa is a bellwether stock that investors use to gauge the economy’s health. The credit card company enjoys profit margins between 45% to 55% in most quarters. The company also pays a quarterly dividend that has more than doubled from 2018 to 2023, representing a 19.04% compound annual growth rate (CAGR) for the dividend. 

5. Bank of America Corp. (NYSE: BAC)

Bank of America is the second largest bank by market cap and is deemed by the Federal Reserve as “too big to fail.” The company was a big winner during the Silicon Valley Bank failure, bringing in an additional $15 billion in deposits within days as consumers put their money in larger, more established banks. It’s a safe name in banking that provides more certainty than regional banks. The financial institution also boasts a 3% dividend yield. 

6. Amazon Inc. (NASDAQ: AMZN)

Amazon has several business segments wrapped into one entity, but the company got its start in e-commerce. While e-commerce is Amazon’s claim to fame, Amazon Web Services (AWS) makes up the majority of the company’s profits. 

7. Broadcom Inc. (NASDAQ: AVGO)

Broadcom is another semiconductor stock set to benefit from the rising demand for artificial intelligence (AI) tools. The company produces AI chips and other semiconductors that are vital for everyday devices and products. The company has a more reasonable price-to-earnings (P/E) rate than NVIDIA and a dividend yield above 2%. Broadcom also enjoys healthy profit margins, which have supported generous dividend hikes.

8. Alphabet Inc. (NASDAQ: GOOG)

Alphabet (Google) is the leader in online advertising and has a dominant presence in the industry. The company lets business owners promote their products and services on Google’s search results and in YouTube videos. Google has initiated cost-cutting measures to expand profit margins.

9. Adobe Inc. (NASDAQ: ADBE)

Adobe creates, maintains and updates software products that increase productivity and help businesses serve their audiences. Adobe’s recent ventures into AI have helped the company attract new customers. Firefly has been a hit and allows users to generate commercially safe images with AI tools.

10. Airbnb Inc. (NASDAQ: ABNB)

Airbnb lets hosts list rooms and housing units on the app to accommodate guests. The company earns a percentage of each sale without having to own properties and manage all the upkeep. Airbnb is a profitable company with double-digit revenue and earnings growth.

What is Cash App?

Cash App is a resource consumers can use to exchange money with friends and buy stocks and crypto. You can also open a bank account on the app and get free tax filings. The all-in-one financial resource has processed over 9 million tax returns so far.

Is Cash App Safe for Stocks?

Cash App is a safe place to buy stocks. The app uses data encryption and multiple security locks to keep your account and assets safe. Users also receive push notifications when their accounts are in use, making it easier to detect and respond to fraud.

How Do You Buy Stocks on Cash App?

Cash App users can add funds to their accounts via bank account transfers. It’s also possible to do banking with the Cash App and direct paychecks into your account. Once you have cash in your account, you can go into your brokerage account and buy stocks.

Other Top Brokers for Buying Stock

Cash App is an all-in-one solution for people who want to more effectively manage their finances. However, Cash App is not the only choice for stock investing. These are some of the other top brokers to consider.

Build Your Portfolio with Cash App

The Cash App gives consumers the opportunity to buy stocks and build wealth over time. You can fill your portfolio with many stocks and funds, but these 10 stocks can serve as starting points. Investors should consider their risk tolerances and portfolio objectives before putting money into stocks.

Frequently Asked Questions 

Best Cash App Stocks Methodology

The methodology for picking Cash App stocks focused on top stocks with large market caps that are among the top leaders in their respective industries. Companies also needed to be profitable to make the list.