The MarketBeat trending stocks report aims to identify trending companies based on the actions and interests of MarketBeat readers and subscribers. Ra…
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Identifying trending stocks is a sound investing strategy. When a stock is trending it generally has strong and growing interest from retail and institutional investors. The MarketBeat trending stocks report aims to identify trending companies based on the actions and interests of MarketBeat readers and subscribers. Rankings are calculated based on the number of new MarketBeat users that have added a given stock to their watch list in the last 30 days and the number of such queries for a company on MarketBeat in the last 30 days.
Here are the top 10 most searched stocks on MarketBeat in August 2021:
- Apple (NASDAQ:AAPL) – AAPL stock has broken out of a tight range on the back of a stellar earnings report. The company beat on both the top and bottom lines. Furthermore, no fewer than a dozen analysts have set or boosted their price target for the stock at a level above the stock’s current price. Add to that an upcoming ex-dividend date (on 8/6) and investors have all the reasons to take a bite out of Apple stock.
- Microsoft (NASDAQ: MSFT) – MSFT stock is up 31% in 2021 primarily on the strength of its Azure Cloud business. The stock is getting a boost by a bullish earnings report that saw the company issue a double beat that has garnered the attention of analysts who are boosting their price targets for the stock. All of this makes it likely that Microsoft will make it 12 consecutive years of increasing its dividend, which will attract even more investors to the stock.
- Facebook (NASDAQ: FB) – Facebook also reported strong earnings in late July. However, due to a forecast for slower than expected growth, FB stock has declined since the report. This hasn’t appeared to discourage analysts who have boosted the price target on the social media giant.
- Alphabet/Google (NASDAQ: GOOGL) – it’s really no longer a question of if Alphabet is going to beat on earnings, but by how much. The company continues to surpass expectations as companies spend on the company’s digital advertising. And the tech giant isn’t resting on its laurels. The company is branching out into connected TV and already beginning to see the benefits.
- Nvidia (NASDAQ: NVDA) – NVDA stock has soared in 2021 largely due to a four-for-one stock split. The company will report earnings in August which is likely to be a catalyst to take the stock another leg higher. Analysts will also be paying attention to the company’s planned acquisition of ARM Holdings which would likely be another positive catalyst for NVDA stock.
- AMC Entertainment (NYSE: AMC) – AMC stock continues to fall from its lofty heights. The stock is down 36% in the month ending August 2. Expect more volatility prior to the company’s earnings announcement on August 5. Retail investors will be looking for any reason to drive the stock higher. But with short interest starting to drop, it’s fair to wonder if a new normal is taking over this meme stock.
- Amazon (NASDAQ: AMZN) – Amazon was another tech stock that is seeing shares drop after it issued cautious guidance. However, like Facebook, analysts are non-plussed. While the stock price is lofty for the retail investor, there’s ample evidence to suggest that AMZN stock remains, at the least, fairly valued. Even if the company sees a drop in pandemic-fueled spending, Amazon has multiple revenue streams to fill in the gap.
- Nio (NYSE: NIO) – NIO stock is down nearly 10% in the last month. However, given the fact that there is no news to speak of, this may be just profit-taking ahead of earnings. Speaking of earnings, Nio reports on August 11. Analysts still love the company and have price targets that suggest the stock will climb nearly 25% in the next 12 months.
- Advanced Micro Devices (NYSE: AMD) – After treading water for much of 2021, AMD stock is breaking to the upside on the heels of a strong earnings report. One thing dragging on the stock is that, in terms of dollar volume, AMD remains a highly shorted stock with $7.55 billion dollars in volume sold short.
- Tesla (NASDAQ:TSLA) – After a steep selloff in March, Tesla made one run at re-entering positive territory for 2021. That effort was rebuffed. But after the company delivered earnings on July 25, TSLA stock is climbing once again. Tesla continues to be a polarizing stock among institutional investors with the stock having a high price target of $1,000 and a low price target of $114.