Growth stocks continue to retain investor interest in the stock market today. Despite their recent pullback in March, they have been picking up momentum again. By definition, growth stocks are stocks whose revenue and earnings are expected to increase at a faster rate than the average company. Investors who are looking to diversify their portfolios could consider adding these stocks given their long-term growth potential. Given how growth stocks can fall into any industry, tech stocks are prime examples. These stocks can range from software to semiconductors and artificial intelligence (AI). The sector also includes some of the largest market capitalizations in the world like Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN).
Even with the gains that the sector has enjoyed last year, these companies are certainly not resting on their laurels. Tech companies are continuously finding ways to innovate and refine their products. For instance, Nvidia (NASDAQ: NVDA) and AMD (NASDAQ: AMD) have released their next-generation GPUs and have received rave reviews for the leap in performance and value. The impact was so profound that the GPUs may have contributed to cryptocurrencies like Bitcoin reaching an all-time high recently. When investors invest in growth stocks, they would anticipate that they will earn money through capital gains when they eventually sell their shares in the future. With that in mind, here is a list of top growth stocks to consider adding to your portfolio.Best Growth Stocks To Watch In Week
- Walt Disney Company (NYSE: DIS)
- Apple Inc. (NASDAQ: AAPL)
- Etsy Inc. (NASDAQ: ETSY)
- Uber Technologies Inc. (NYSE: UBER)
Disney is a diversified multinational mass media and entertainment conglomerate. The company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes Disney Parks, Experiences, and Products and also Disney Media & Entertainment Distribution (DMED).Source: TD Ameritrade TOS
Recently, the company has witnessed an incredible boom in its media and entertainment business. DMED in particular aligns technology, media distribution, and advertising sales into a single business segment that creates and delivers personalized entertainment experiences to consumers around the world. Its flagship service is dubbed Disney+. DIS stock currently trades at $188.00 a share as of Thursday’s premarket trading session.
The company has been investing heavily into Disney+ and could certainly be one of the best growth stocks to come out from 2021. Capitalizing on its Marvel and Star Wars titles, the company certainly has a lot to build upon. Given the legion of fans and consumers that are eager to consume media that is related to its titles, Disney certainly has been firing on all cylinders. With that in mind, will you consider DIS stock as a top growth stock to watch?Apple Inc.
Apple is a multinational technology company that is headquartered in California. The company develops and sells consumer electronics, software and has a plethora of online services. It has become a household name over the years for its flagship products like the iPhone and Apple Watch. The company has also reportedly been working on an electric car project codenamed Titan. The company’s stock currently trades at $128.88 during Thursday’s premarket trading session and has been up by over 80% in the last year.Source: TD Ameritrade TOS
In the company’s most recent quarterly financials that were posted in January, Apple reported a record revenue and earnings per share. In detail, it posted all-time high revenue of $111.4 billion for the quarter, up by 21% year-over-year. The company also posted a quarterly earnings per diluted share of $1.68, up by 35% compared to a year earlier. International sales accounted for 64% of the quarter’s revenue. Given the company’s impressive financials, do you think AAPL stock is well-positioned for further growth?
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Etsy is a growth company that focuses on e-commerce. In essence, the company is a global marketplace for unique and creative goods. Its website specializes in handmade or vintage items and craft suppliers. As the coronavirus pandemic had left many people jobless, they resorted to selling handmade crafts on Etsy. That in turn had given Etsy one of its best years as an e-commerce company. ETSY stock currently trades at $205.88 as of 7:58 a.m. ET on Thursday. The company’s share price has jumped by a staggering 321% in the last year itself.Source: TD Ameritrade TOS
The company reported its fourth quarter and full year 2020 financial results in February. In it, Etsy posted a consolidated fourth-quarter year-over-year gross merchandise sales (GMS) growth of 117.7%. It also reported a revenue growth of 128.7%. You could say that 2020 was an inflection point for e-commerce and Etsy. This especially with millions of buyers choosing us for their everyday needs as the pandemic took its full course. All things considered, will you add ETSY stock into your watchlist?Uber Technologies Inc.
Last but not least, we will be looking at Uber Technologies. In brief, the California-based tech company provides a variety of services to consumers. This includes ride-hailing, food and package delivery, and courier services. For the most part, the company’s core ridesharing business was heavily affected by the pandemic with most consumers homebound. As a result, the company has made massive strides to improve its Uber Eats food delivery division. Over a year later, things appear to be looking up for Uber as the economy reopens and vaccine distribution accelerates. Likewise, UBER stock is looking at gains of over 110% in the past year. Would now be the time to invest in the company?
If anything, Uber does not seem to be slowing down anytime soon. According to Reuters, Uber, and fellow ride-hailing company Lyft (NASDAQ: LYFT) are seeing significant boosts in driver earnings. These figures are remarkable considering that they are being compared to pre-pandemic driver earnings.
Accordingly, this would be the case as trip demand outstrips driver supply, prompting the companies to offer extra incentives. Specifically, Uber mentioned yesterday that it plans to invest an additional $250 million to incentivize new and existing drivers. With all these factors in play now, Uber could be looking at massive tailwinds in the foreseeable future. Notably, the company seems to be gearing up for such tailwinds with its current investments. Time will tell if Uber can make the most of all this. In the meantime, would you consider adding UBER stock to your watchlist?