It can be very difficult to find companies that are both flying under the radar, and still might have potential for gains. Many times, stocks are off investors’ radar screens for a reason, though there are some hidden gems that could be worth uncovering by those with a high risk tolerance.
One way to find these underappreciated stocks is by looking at companies that haven’t seen their share prices move higher lately, but have observed analysts raising earnings estimates for their stock. This trend could signal that investors haven’t quite embraced the rising estimate story yet, but that the potential for a big move higher is definitely there.
One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is Advanced Micro Devices, Inc. (AMD - Free Report) . This Electronics – Semiconductors stock has actually seen estimates rise over the past month for the current fiscal year by about 28.6%. But that is not yet reflected in its price, as the stock lost 10.6% over the same time frame.
This year’s significant earnings growth expectation over the prior year should ultimately translate into price appreciation.
And if this isn’t enough, AMD currently carries a Zacks Rank #2 (Buy) which further underscores the potential for its outperformance (See the performance of Zacks' portfolios and strategies here: About Zacks Performance).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So if you are looking for a stock flying under-the-radar that is well-equipped to bounce down the road, make sure to consider Advanced Micro Devices. Solid estimate revisions and an impressive Zacks Rank suggest that better days may be ahead for AMD and that now might be an interesting buying opportunity.
4 Surprising Tech Stocks to Keep an Eye On
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
See Stocks Now>>