Top stocks to watch this week: 03/10/2021

These are our weekly picks for the top stocks to be watching over the week commencing 03/10/2021.
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Stable stock picks

The stock picked this week is a very well established company with an upcoming earnings report after previously breaking records in its previous quarter results.

Apple

This company was listed in our top stocks to watch for this month (October 2021) and for good reason.

Apple continues to have quarters full of record breaking results and the company will be revealing its Q4 results on the 28th of October 2021.

For the last quarter Apple reported a revenue of $81.4 billion with a net profit of $21.7 billion. It is possible that Apple will report similar, if not stronger results for Q4.

You can read more about the Q3 results from Apple here:

Very recently Apple released its new iPhone lineup and a design overhaul for the iPad mini, which seems to be a very popular update to the device.

With the upcoming Q4 results, Apple is likely to announce another set of strong results, right after their latest product launches which, as usual, are expected to sell well.

Speculative stocks These two stocks are generally high risk. One of the companies is still unprofitable and is yet to prove its business is sustainable and the other has been subject to ‘meme stock’ trading in the past.

Aurora Cannabis

Aurora Cannabis posted its fiscal Q4 2021 earnings recently and while the company is still reporting losses, they were not as bad as expected.

The company is working hard on its path towards profitability and right now one of the strategies they are using is cost cutting. They plan to save 60-80 million Canadian dollars and the company leader Miguel Martin expects the company to be profitable in some ways by early to mid 2023.

Despite Canada legalising the use of cannabis, most cannabis companies including Aurora Cannabis are yet to reach the stage of reporting profits. But it has long been speculated that other countries will follow Canada’s approach, which would allow for international expansion and further put profitably in the sights for Aurora Cannabis.

While overall in reality the Q4 results were not great at all, it is possible to see the potential for this company. They are also discussing a shift towards medical cannabis which is a growing market – if Aurora can establish itself within that area then it can only be good for the future of the company.

AMC Entertainment

This stock has had a very interesting year to say the least. Earlier in 2021 AMC more or less became what some call a ‘meme stock’ since the stock soared in value mainly because of the Wall Street Bets subreddit.

However now with it at a lower value, the stock may actually be in a good position for a sensible comeback.

As COVID-19 lockdowns and restrictions continue to be relaxed and movies returning to the cinema such as the new 007 movie ‘No Time to Die’, AMC will likely see recovering ticket sales from here on out.

AMC has also just recently repurchased some of its highest cost debt, the total repurchased was $4.1 million. This puts the company in a stronger position for a comeback.

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