5 Trending Growth Stocks For Your Watchlist Right Now
Investors appear to be breathing a sigh of relief on the Federal Reserve’s decision to accelerate its tapering plan. Even Bitcoin and other cryptocurrencies received a welcome boost yesterday. That may surprise some, since crypto is sometimes seen as a hedge against inflationary pressures from monetary stimulus. Regardless of what you think of cryptocurrencies, many investors are only willing to invest a small portion of their portfolio there.
So, if you’re looking for more visibility on potential returns, you might want to check out some of the top growth stocks in the stock market. But before you look for the best growth stocks to buy now, it’s important to identify the megatrends that could create massive tailwinds for your investments. The COVID-19 pandemic has accelerated many trends. And these include online advertising, digital payments, and cloud computing. Hence, it makes sense for investors to start searching for these growth names that are still at their early stage of the growth cycle.
Just yesterday, Apple (NASDAQ: AAPL) announced that it has indefinitely delayed the date which corporate employees will have to return to the office. The tech giant also closed three retail stores this week in response to growing COVID-19 infections. Now, what would all this mean for growth stocks now? Incidentally, many of the top names benefit from the stay-at-home theme, and then some. With all that in mind, here is a list of top growth stocks to watch in the stock market today.
Top Growth Stocks To Watch Today
- Alphabet Inc. (NASDAQ: GOOGL)
- Nvidia Corporation (NASDAQ: NVDA)
- Advanced Micro Devices, Inc. (NASDAQ: AMD)
- Twilio Inc. (NYSE: TWLO)
- Palo Alto Networks Inc. (NASDAQ: PANW)
Alphabet
Advertisers are increasingly spending their money online, and that makes Alphabet worth watching. The company owns the most popular search engine in the world including a plethora of services including YouTube. While GOOGL stock is often overlooked, it has all the attributes of a strong business.
Not to mention, it also has a reasonable valuation for investors looking for value buys. At the end of the third quarter, the company boasted total assets of $347.4 billion. With its strong balance sheet and solid growth numbers, could GOOGL stock have more room to run?
Now, it’s easy to assume that Apple stock is the best performing FAANG stock this year with its robust rally. But that’s certainly not the case here. GOOGL stock is up nearly 70% year to date while AAPL stock is only up around 35% during the same period. That aside, analysts are also expecting Alphabet’s revenue to increase nearly 40% this year to $25.1 billion. As the company continues to expand its offerings, I guess it’s safe to say that its fundamentals will remain strong for the foreseeable future. Given all of this, would you include GOOGL stock on your watchlist right now?
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Nvidia
Nvidia has frequently been among the favorites of growth investors. The company has essentially redefined modern computer graphics and its products are used by billions all over the world. Its products have allowed for high-performance computing and also artificial intelligence to be widely available to all. These are all high-growth areas which Nvidia has tapped into them successfully.
What’s more, the company is also creating its own metaverse platform, called Nvidia Omniverse. For starters, it is a subscription product, which will result in a predictive revenue stream for the years to come. It has a wide range of enterprise applications, ranging from design collaboration, simulation of real-world architecture to tools for training robots.
And behind it all are Nvidia GPUs for PC, Nvidia GPUs for the cloud, and Nvidia GPUs for Omniverse servers. According to CEO Jensen Huang, this is going to be one of the largest graphics opportunities the company has ever seen. With such a growth runway ahead, would NVDA stock make your list of top growth stocks to buy today?
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Advanced Micro Devices
Advanced Micro Devices (AMD) is mostly known for supplying chips to personal computers, data centers and gaming console markets. The company yesterday received a boost from the positive commentary from the analyst at Keybanc.
Among the chipmakers, KeyBanc was most optimistic about AMD whose chips largely power Microsoft’s (NASDAQ: MSFT) Azure. Despite the recent correction, AMD stock is still up by over 50% this year.
Separately on Wednesday, there were also concerns among investors on whether the company could ultimately close its deal with Xilinx (NASDAQ: XLNX). This came amid a report that the U.S. may put further sanctions on China’s biggest chipmakers as investors await the decision from China regarding the proposed acquisition. These noises aside, the company’s growing exposure to 5G networking is also worth noting. Considering all this, is AMD stock worth investing in right now?
Twilio
Cloud-based, software-as-a-service specialist Twilio is looking more like a compelling growth play at these prices. For starters, Twilio provides a cloud communication platform which utilizes Application Programming Interfaces (APIs) that act as intermediaries to allow two entities to communicate to each other. After Twilio posted quarterly earnings in late October, the stock has continued facing bearish selling pressure.
No doubt, as a market leader in the customer text messaging and video communication space, there is a lot to like about Twilio. It has grown steadily since its inception in 2008.
It now lists, among others, house-sharing platform Airbnb (NASDAQ: ABNB), virtual marketplace eBay (NASDAQ: EBAY), and e-hailing platform Lyft (NASDAQ: LYFT) as its customers. Considering the key role Twilio plays in this space, would you buy TWLO stock on the cheap?
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Palo Alto Network
Palo Alto Networks is committed to addressing the world’s greatest cybersecurity challenges with its prowess in AI, analytics, automation, and orchestration. Similar to other growth stocks on this list, these companies could be resistant to inflation.
That’s because clients will continue to pay for their services regardless of the macroeconomic challenges. And this is especially true considering the rise of ransomware attacks globally. With most of the company’s growth coming from its newer cloud and AI services, investors could expect the revenue to rise at a healthy level in the near term.
Last month, the company announced that it is partnering with German multinational conglomerate Siemens AG in a bid to enhance the security of mission-critical networks and prevent the threat of cyber-attacks on critical infrastructure. From Palo Alto’s latest quarterly result, revenue rose to $1.25 billion, up from $946 million in the prior year quarter. The company’s strong quarterly performance reflects its sustained focus on product innovation and continued investments in its go-to-market strategy. Thus, would PANW stock make your list of top growth stocks to buy now?
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