1. Amazon (AMZN)
Amazon tops our chart in August as its Q2 2021 earnings report revealed a copious surge in earnings despite the global pandemic. The company reported a staggering 27% YoY increase in revenue, significantly surpassing Wall Street’s estimates. The company’s persistent innovation, cloud-based services, and Prime subscription model with its dizzying array of benefits offer sustained growth. Also, the recent introduction of international operations is another reason why AMZN remains one of our top seven stocks to watch.
2. Apple Inc. (AAPL)
Second on the list is a globally recognized tech giant, Apple Inc. AAPL posts robust quarterly results attesting to the continued growth of its services division. This multinational stands out for its high-margin product portfolio, strategic acquisitions, and investments in augmented reality and artificial intelligence. Its commitment to privacy and sustainability adds further gloss to its impressive public profile, making it justifiably one of our magnificent seven.
3. Johnson & Johnson (JNJ)
Amid a turbulent market, Johnson & Johnson’s share price has managed to remain stable, making it another stock worth watching out for. The company’s strong product lineup, coupled with its robust pharmaceutical pipeline, marshals steady revenue growth. JNJ’s diversity in both geography and product gives it an edge in withstanding economic downturns and securing its prominent spot in our top 7.
4. NVIDIA Corporation (NVDA)
As artificial intelligence (AI) and gaming industries continue their upward surge, NVIDIA, a multinational tech company specializing in these fields, earns its place on our list. NVDA stock has gained so far in 2021, partly due to the GeForce RTX 30 Series graphics cards’ robust sales, making it one of the best-performing shares on Wall Street. With its deep-learning technology gaining traction among leading internet and tech giants, this company remains appealing.
5. Alphabet Inc. (GOOG)
Owner of the ubiquitous search engine Google, Alphabet soars global markets due to its robust portfolio of businesses and massive cash reserves. Known for its consistent revenue growth, Alphabet continually reinvests profits into high-return entities such as YouTube and Google Cloud, fortifying its foothold in their respective markets. GOOG is an eclectic stock worthwhile considering in August.
6. Microsoft (MSFT)
Microsoft has dominated the software industry for decades, and this trend isn’t showing signs of abating. With its expanding customer base in Azure, continued investments in Artificial Intelligence, and successful foray into cloud computing, this tech giant’s stock portends a promising future. Also, the plans to acquire TikTok’s operations in certain countries create an additional driver for growth, making MSFT a must-watch.
7. Visa Inc. (V)
Finally, Visa, a financial services corporation, concludes our list of stocks to watch in August. With more and more establishments worldwide shifting towards digital payment options, Visa’s stocks continue to surge. V continues to expand its service base both horizontally and vertically, investing in technology to advance digital payment. An overall rise in consumer spending, particularly in e-commerce, adds further impetus for growth in V’s appealing stocks.
The above stocks have been selected based on their strength in the current financial environment, performance over the past few months, and potential for future growth. While our top 7 encompasses a broad range of sectors, all these companies possess the common denominator of strong fundamentals, dynamic growth strategies, and robust financial performance, making them the magnificent 7 stocks worth watching in August.
