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Top Stock Picks for Week of May 18, 2020

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The Clorox Company (CLX - Free Report) , is engaged in the production, marketing and sale of consumer products in the U.S. and international markets. Clorox’s shares have risen and outpaced the industry in the past three months. The stock received a boost from the robust third-quarter fiscal 2020 results, wherein both top and bottom lines beat the Zacks Consensus Estimate and grew year over year. While earnings benefited from higher sales and gross margin, sales were driven by increased volumes. Further, it saw broad-based growth at all four of its segments as it catered well to consumers’ increased demand for disinfecting products in wake of the coronavirus outbreak. These factors and others also aided management to raise view for fiscal 2020. Its upbeat outlook reflects expectations of gains from COVID-19 related demand spike, with minimal supply chain disruptions. Higher product demand on robust innovations will also aid.

Taiwan Semiconductor Manufacturer Co (TSM - Free Report) , is the world's largest dedicated integrated circuit foundry. This company is at the forefront of the 5G revolution and the next wave of datacenter hyperscaling. Analysts have been increasingly optimistic about these shares' potential, upwardly revising EPS estimates for the next couple of years and propelling TSM into a Zacks Rank #1 (Strong Buy). The business is very well-capitalized. That combined with consistent, robust cash-flows allow the company enormous financial flexibility. TSMC is an excellent way to hedge your semiconductor bets and invest in the future of hardware.

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