Top stocks to watch this week: 24/01/2022

These are our weekly picks for the top stocks to be watching over the week commencing 24/01/2022.
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3 min read
Candlestick Chart

Our top pick: Microsoft

The company has recently announced an acquisition of Activision Blizzard, which will further progress Microsoft’s Gaming ambitions. In recent times Microsoft has been moving quickly in the gaming industry and progress is really starting to show. The company also acquired Bethesda last year which led to many of Bethesda’s games appearing on the now 25 million + subscriber strong Game Pass which is available on both Xbox and PC (Xbox Game Pass or PC Game Pass). Microsoft is aiming to bring as many Activision Blizzard games to Game Pass once the acquisition concludes – this could see huge games such as World of Warcraft and Call of Duty joining the library.

Microsoft’s stock is currently down around 11.55% over the past month but it is up around 28.9% over the past year. The stock is currently trading at around $296 which is down from its all-time high of $349.67.

Nvidia

Like Microsoft, Nvidia is also heavily involved in the gaming industry. The company produces GPU’s which are very popular and like Microsoft, Nvidia has a game streaming service called GeForce Now. Unlike Google Stadia and Microsoft Cloud Gaming, GeForce Now is not its own platform as such, since it runs off games users already have in their Steam library. As the gaming industry continues to grow its likely that Nvidia’s involvement in it will continue to stay strong and grow also, especially as they have increasing pressure on competition from rival AMD.

Nvidia’s stock is currently down around 21.14% over the past month and up around 71.2% over the past year. The stock is currently trading at around $233 which is down from its all-time high of $346.47.

Nike

This company is one of the biggest in its industry, alongside its incredibly strong brand, Nike is a very well-run company which is also adapting to growing its online sales very well.

Despite the recent supply chain issues, Nike has continued to deliver. The company has even beaten most expectations in recent times and has seen online sales grow throughout the pandemic. Nike’s stock could be in a position to continue to grow with the lowest price targets at around $160 with the highest targets at around $202.

Nike’s stock is currently down around 13.7% over the past month and down around 3.9% over the past year. The stock is currently trading at around $142.95 which is down from its all-time high of $179.10.

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