Top stocks to watch this week: 18/10/2021

These are our weekly picks for stocks to be watching over the week commencing 18/10/2021.
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3 min read
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Stable stock pick

The stable stock for this week is a very well known huge company, which is seemingly involved in almost everything, from online shopping to data centres. But that does not mean there isn’t anymore potential for growth, because there is.

Amazon

This company certainly is established, its not a name that many people don’t know of. The reality is Amazon is huge and its way more than just an online retailer.

In recent times Amazon’s stock has not seen so much growth, its been quite steady, and it is currently priced at around $3,400. However an Analyst at JPMorgan believes the stock may gain 29% throughout 2022. If this comes to reality, now may be the best time to be looking at this stock before the rumoured growth starts to kick off. For comparison Amazon stock has gained 6.29% over the last year at the time of writing (18/10/2021).

Speculative

Two fairly well known companies, both now profitable, make our speculative stock picks this week. One of them are well known in the investment world and being volatile and another which has seen amazing growth over time. What they both have in common is that they still have huge potential for growth.

Tesla

This stock has always been a hot topic and it is known for some volatility. But there are some very good reasons to keep a close eye on Tesla stock in the upcoming future.

Recently the Tesla stock price has been steadily climbing to around $850, with some investment banks giving the company a price target of $950. The question now is will it raise over its steady resistance of around $850? Recently Tesla also reported really solid Q3 deliveries, delivering over 241,000 vehicles.

Tesla is always worth watching, but now be a more interesting time after a period of slower growth than this stock has been used to in the past.

Nvidia

This company is fairly well established at this point, but has huge potential for lots of expansion in the markets it is involved in, one of these being gaming.

Not only does Nvidia produce GPU hardware which is commonly used for gaming, they also have a game streaming service called GeForce Now. Gaming is a growing industry and so is game streaming – if Nividia can make its game streaming service even better they may be well positioned to be a leader within that market, for the main reason: the service is unique. Unlike other platforms GeForce Now is the only service which allows users to stream their Steam library. Although not all games are supported, but many are.

Not only this, but due to the growing gaming market and other issues such as unstable internet connections, not everyone is going to be streaming games. Nvidia has lots of potential to also expand its GPU market share, for both gamers and data centres. Nvidia currently holds around 83% market share of the GPU market.

Over the past year to date (18/10/2021) Nvidia stock has gained 61.96% and 1,198.38% over the last five years. This is some impressive growth and the changes Nvidia are making may spur that growth on even more.

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