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The Zacks Analyst Blog Highlights: Zoom, Digital Turbine, Apple, Google and NVIDIA
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For Immediate Release
Chicago, IL – June 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Zoom Video Communications, Inc. (ZM - Free Report) , Digital Turbine, Inc. (APPS - Free Report) , Apple Inc. (AAPL - Free Report) , Alphabet Inc. (GOOGL - Free Report) and NVIDIA Corporation (NVDA - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Top-Ranked Tech Stocks to Play Nasdaq's Momentum
The Nasdaq composite closed at a record high of 14,174.14 on Jun 14, reflecting a 0.7% intraday gain and eclipsing its previous record closing of 14,138.78 on Apr 26. Overall, the index is up almost 10% year to date.
The pace is notable as tech-heavy Nasdaq has suffered from the looming inflation threat in the United States. Higher inflation means increased borrowing costs as well as input costs. As a majority of tech companies rely on borrowing to expand their businesses, a higher inflation rate is detrimental to their prospects.
Nevertheless, despite the inflation threat, the momentum in Nasdaq will continue, primarily fueled by changing consumer preference and behavior. Undoubtedly, tech stocks are benefiting from the ongoing digitalization. Adoption of cloud computing and the integration of AI and machine learning have been key catalysts.
Moreover, short supply of chips is opening up opportunities for semiconductor companies. Notably, the U.S. Senate has passed a bill that allocates $52 billion for the American semiconductor industry in an attempt to bolster chip manufacturing as well as improve competitive prowess against China.
Here we pick six Nasdaq-listed tech stocks that are well-poised to grow in 2021 driven by solid fundamentals. Moreover, they have a favorable combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Per the Zacks proprietary methodology, stocks with such a perfect mix of elements offer solid investment opportunities.
Top Bets
Zoom has benefited the most from the coronavirus-induced work-from-home and online-learning trend. The company is well-positioned to benefit from growing adoption of hybrid work environments driven by a plethora of solutions like Zoom Phone Appliances and Zoom Events.
This $107.96-billion company currently flaunts a Zacks Rank of 1 and a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2022 earnings is pegged at $4.66 per share, having been raised 27% in the past 60 days.
Another Zacks Rank #1 stock, Digital Turbine, is riding on accretive acquisitions like AdColony and Fyber as well as solid adoption of SingleTap. Moreover, strong international growth is a key catalyst. In the recently concluded fourth-quarter fiscal 2021, international revenue per devices (RPD) jumped more than 140% year over year.
Digital Turbine has a market cap of $6.90 billion and flaunts a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2022 earnings is pegged at $1.56 per share, having been revised 42% upward in the past 60 days.
Apple is benefiting from strong demand for its 5G-enabled iPhone 12 as well as iPad, Mac and wearables. The momentum in the Services segment has been a key catalyst. Moreover, this Zacks Rank #2 company recently unveiled a plethora of software, including iOS 15, iPadOS 15, macOS Monterey and watchOS 8.
The $2.13-trillion company has a Growth Score of B. The consensus mark for its fiscal 2021 earnings stands at $5.17 per share, having moved 15.1% north over the past 30 days.
Alphabet benefits from strong cloud demand as well as search dominance. Notably, this Zacks #2 Ranked company’s expanding data centers will continue to bolster its presence in the cloud space. Moreover, Google’s robust mobile search is gaining solid momentum. Alphabet’s focus on infusing AI and machine learning technology in its products is a key catalyst.
Alphabet has a Growth Score of B and market cap of $1.63 trillion. The Zacks Consensus Estimate for its 2021 earnings is pegged at $89.46 per share, having been revised 27.3% upward in the past 60 days.
NVIDIA benefits from strong demand for GeForce desktop and notebook GPUs, which is boosting gaming revenues. Moreover, continuing Hyperscale demand remains a tailwind for the company’s datacenter business. This Zacks #2 Ranked stock, with a Growth Score of B, is expected to cash in on solid uptake of AI-supported smart cockpit infotainment solutions.
The Zacks Consensus Estimate for its 2021 earnings is pegged at $15.84 per share, having been revised 17.6% upward in the past 60 days. NVIDIA has a market cap of $444.21 billion.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Zoom, Digital Turbine, Apple, Google and NVIDIA
For Immediate Release
Chicago, IL – June 16, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Zoom Video Communications, Inc. (ZM - Free Report) , Digital Turbine, Inc. (APPS - Free Report) , Apple Inc. (AAPL - Free Report) , Alphabet Inc. (GOOGL - Free Report) and NVIDIA Corporation (NVDA - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Top-Ranked Tech Stocks to Play Nasdaq's Momentum
The Nasdaq composite closed at a record high of 14,174.14 on Jun 14, reflecting a 0.7% intraday gain and eclipsing its previous record closing of 14,138.78 on Apr 26. Overall, the index is up almost 10% year to date.
The pace is notable as tech-heavy Nasdaq has suffered from the looming inflation threat in the United States. Higher inflation means increased borrowing costs as well as input costs. As a majority of tech companies rely on borrowing to expand their businesses, a higher inflation rate is detrimental to their prospects.
Notably, per CNBC data, consumer prices in May increased 5%, fastest in almost 13 years. Moreover, according to a survey by the Federal Reserve Bank of New York, Americans expect inflation rate to be up to 4% over the next 12 months.
Nevertheless, despite the inflation threat, the momentum in Nasdaq will continue, primarily fueled by changing consumer preference and behavior. Undoubtedly, tech stocks are benefiting from the ongoing digitalization. Adoption of cloud computing and the integration of AI and machine learning have been key catalysts.
Moreover, short supply of chips is opening up opportunities for semiconductor companies. Notably, the U.S. Senate has passed a bill that allocates $52 billion for the American semiconductor industry in an attempt to bolster chip manufacturing as well as improve competitive prowess against China.
Here we pick six Nasdaq-listed tech stocks that are well-poised to grow in 2021 driven by solid fundamentals. Moreover, they have a favorable combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Per the Zacks proprietary methodology, stocks with such a perfect mix of elements offer solid investment opportunities.
Top Bets
Zoom has benefited the most from the coronavirus-induced work-from-home and online-learning trend. The company is well-positioned to benefit from growing adoption of hybrid work environments driven by a plethora of solutions like Zoom Phone Appliances and Zoom Events.
This $107.96-billion company currently flaunts a Zacks Rank of 1 and a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2022 earnings is pegged at $4.66 per share, having been raised 27% in the past 60 days.
Another Zacks Rank #1 stock, Digital Turbine, is riding on accretive acquisitions like AdColony and Fyber as well as solid adoption of SingleTap. Moreover, strong international growth is a key catalyst. In the recently concluded fourth-quarter fiscal 2021, international revenue per devices (RPD) jumped more than 140% year over year.
Digital Turbine has a market cap of $6.90 billion and flaunts a Growth Score of A. The Zacks Consensus Estimate for its fiscal 2022 earnings is pegged at $1.56 per share, having been revised 42% upward in the past 60 days.
Apple is benefiting from strong demand for its 5G-enabled iPhone 12 as well as iPad, Mac and wearables. The momentum in the Services segment has been a key catalyst. Moreover, this Zacks Rank #2 company recently unveiled a plethora of software, including iOS 15, iPadOS 15, macOS Monterey and watchOS 8.
The $2.13-trillion company has a Growth Score of B. The consensus mark for its fiscal 2021 earnings stands at $5.17 per share, having moved 15.1% north over the past 30 days.
Alphabet benefits from strong cloud demand as well as search dominance. Notably, this Zacks #2 Ranked company’s expanding data centers will continue to bolster its presence in the cloud space. Moreover, Google’s robust mobile search is gaining solid momentum. Alphabet’s focus on infusing AI and machine learning technology in its products is a key catalyst.
Alphabet has a Growth Score of B and market cap of $1.63 trillion. The Zacks Consensus Estimate for its 2021 earnings is pegged at $89.46 per share, having been revised 27.3% upward in the past 60 days.
NVIDIA benefits from strong demand for GeForce desktop and notebook GPUs, which is boosting gaming revenues. Moreover, continuing Hyperscale demand remains a tailwind for the company’s datacenter business. This Zacks #2 Ranked stock, with a Growth Score of B, is expected to cash in on solid uptake of AI-supported smart cockpit infotainment solutions.
The Zacks Consensus Estimate for its 2021 earnings is pegged at $15.84 per share, having been revised 17.6% upward in the past 60 days. NVIDIA has a market cap of $444.21 billion.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.