7 Growth Stocks to Buy for Oodles of Upside
Stocks are firing on all cylinders again and have clawed back most of their bear-market losses. But investors fearing that all of the high-upside opportunities have passed them by can breathe easy. There are still numerous growth stocks to buy if you know where to look.
It's a strange environment for growth investors. On the one hand, U.S. GDP dropped 5% during the first quarter of 2020, and economic declines are widely expected for Q2 as well. Unemployment rebounded to "just" 13.3% in May, and while COVID-19 has been pushed out of the spotlight, that danger hasn't simply disappeared.
On the other, stocks have rebounded vigorously off the March lows. The Nasdaq Composite is actually positive year-to-date, and both the S&P 500 and Dow Jones Industrial Average have recovered to single-digit losses.
Despite this confusing economic climate, there are still plenty of compelling growth stocks on the board, according to Wall Street analysts. We've recently tapped TipRanks' database to identify seven such picks - from established mega-caps to high-risk, high-reward small caps - that are beloved by the majority of professionals who cover these stocks day in and day out.
The result? Seven growth stocks to buy that the analysts broadly believe will deliver returns of anywhere between 17% and 63% over the next 12 months.
Applied Materials
Market value: $53.3 billion
TipRanks consensus
You’re reading a preview, subscribe to read more.
Start your free 30 days