The Best Stocks to Buy With $1,000 Right Now

Got some extra cash you're ready to put to work for a while in the hopes of making it grow? As tempting as some of the market's most popular stocks may be at this time, you might be better served by steering clear of those crowded trades for now and instead diving into something a bit off the beaten path.

To this end, here's a closer look at three promising prospects for almost any investor's portfolio.

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1. Fluor

Lots of major construction projects have been on hold since the COVID-19 pandemic first took hold. While initially stymied by the logistical challenges stemming from the contagion, more recently, rising costs and a lethargic economy are the culprit.

Some projects simply can't be postponed indefinitely -- the need is just too great. The key is being patient, and being ready for when the opportunity surfaces. For instance, although it was signed all the way back in 2021, much of the funding called for by the Infrastructure Investment and Jobs Act (IIJA) is just now being spent. The U.S. Department of Transportation reports that as of August only about 40% its portion of the bill's funding has been dished out, while nearly one-fourth of it hasn't even yet been committed to any particular infrastructure project.

That's great news for construction company Fluor (NYSE: FLR), which builds mega-projects like roads, maritime ports, and pharmaceutical factories. It can even build nuclear power plants, which are expected to grow in number just to meet the soaring need for energy that can't be affordably or feasibly met soon enough any other way.

And lots of business is already lined up, even if it's not yet turned into revenue. After winning $3.3 billion worth of new contracts during the three-month stretch ending in September, Fluor's backlog currently stands at $28.2 billion. For comparison, last quarter's top line was $3.4 billion. The company just needs the green light to commence these projects.

It will never be a high-growth stock, to be clear -- the heavy construction business is just too big and bogged down by logistical hurdles. This stock's underperformance since late last year, however, understates its long-term potential, beginning with the revenue and profit turnaround expected for next year.

2. Advanced Micro Devices

To date, Nvidia has been the centerpiece of the artificial intelligence (AI) revolution. And understandably so. Its technology serves as the "brains" for the vast majority of AI data centers.

As expected, competition is finally creeping in. Advanced Micro Devices (NASDAQ: AMD) is one of those competitors worth a closer look.

It actually makes a lot of sense. Although conventional computer processors made by the likes of Intel are capable of handling artificial intelligence workloads, Nvidia's graphic cards technology is far better suited for the task simply because these processors have more computing capacity. Although AMD manufactures computer processors, it also makes graphics cards; converting this know-how into AI tech isn't exactly a big leap.

And it's starting to matter. Despite its slow foray into the business, Advanced Micro Devices is now a technology supplier for powerhouse names like Oracle, OpenAI, and cloud infrastructure outfit Vultr, just to name a few.

Things are just starting to heat up, however. As CEO Lisa Su commented at an investor event held last month, "AMD is entering a new era of growth fueled by our leadership technology roadmaps and accelerating AI momentum." In practical, tangible terms, that means annualized top-line growth of more than 35% for the next three to five years, led by graphics processors purpose-built for heavy-duty artificial intelligence tasks.

AMD isn't apt to dethrone Nvidia anytime soon, if ever. It doesn't necessarily need to, however, to reward shareholders. As TD Cowen analyst Joshua Buchalter recently noted, "investors should own the stock ahead of the [new product launch] ramp" because "AI compute spending will prove durable and AMD has cemented itself as a winner."

3. Circle Internet Group

Finally, add Circle Internet Group (NYSE: CRCL) to your list of best stocks to buy if you've got a little bit of long-term capital (say $1,000) to work with.

It's not a household name. There's a good chance you've never even heard of it, in fact. Its relatively small market cap of around $20 billion just doesn't turn many heads.

Give it time, though. What Circle brings to the table is undeniably marketable.

In simplest terms, this company solves one of cryptocurrency's biggest problems. That's difficulty in spending these digital dollars without first converting them back into actual fiat currency (which is a logistical challenge in and of itself).

Circle Internet Group offers payment-acceptance tech to banks and merchants, but also provides digital wallets that are easy for consumers to use. Although not a perfect comparison, it wouldn't be wrong to compare Circle's solutions to those of well-known payment middleman PayPal, just with cryptocurrency instead of government-issued money. The company makes money by earning interest on the digital currency it's holding on behalf of consumers, merchants, and financial institutions. Other profit centers could be added in the future, of course.

As it stands right now, Circle only serves as an intermediary for stablecoins USD Coin (CRYPTO: USDC) and Euro Coin (CRYPTO: EURC). But that may be all it ever needs to handle. These two cryptocurrencies are both doing a pretty good job of matching the value of their underlying fiat currency, attracting users looking for a more flexible option than conventional dollars or euros. As of Q3, there was nearly $74 billion worth of USDC in circulation, up 108% from year-ago levels. Circle's revenue jumped 66% to $740 million as a result.

There's still risk here to be sure. But, not as much as the stock's sell-off from June's peak would suggest. Much of that weakness is just the typical pullback from a post-IPO surge, followed by falling Bitcoin prices that have nothing to do with Circle's actual business.

James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Bitcoin, Intel, Nvidia, Oracle, and PayPal. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2025 $75 calls on PayPal. The Motley Fool has a disclosure policy.