Check Out These Top Robinhood Stocks In The Stock Market Today
Looking for the best Robinhood stocks to buy in the stock market today? If you answered yes, you’re not alone. There are a number of factors why retail investors are glued to the popular trading app. For one, Robinhood doesn’t charge a commission for stocks traded on the platform. And it is also one of many brokerages that allow fractional share investing.
While the first half of the year has been a mixed bag for the stock market, speculative names have grabbed most of the attention. Sure, GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) has captivated the interests of the meme stonk army. But with volatility often haunting the market as a whole, making money in the stock market is no straightforward matter. This has prompted many investors to look for tech stocks with solid fundamentals and is respected leaders in their areas.
Nevertheless, it’s great to see young people putting their money to work in the stock market right now. The earlier they start putting their money to work, the higher the chance of compounding their investments. But to make that really work, retail investors might want to think long-term and avoid chasing momentum plays. If you share the same sentiment, are these the top Robinhood stocks to buy for long-term gains?
Top Robinhood Stocks To Buy [Or Sell] Now
- Apple Inc. (NASDAQ: AAPL)
- Amazon.com Inc. (NASDAQ: AMZN)
- Palantir Technologies Inc. (NYSE: PLTR)
- PayPal Holdings Inc. (NASDAQ: PYPL)
- NVIDIA Corporation (NASDAQ: NVDA)
Apple
Apple is a consumer discretionary company that specializes in consumer electronics, software, and online services. The company has a very strong brand loyalty for its premium tech products like the iPhone and Macbook. In fact, Apple had a worldwide installed base of over 1.65 billion devices as of this year’s first quarter. And I would bet my money on it that the number is going to climb with the recent launch of its M1-powered devices.
In late April, the company also announced record financial results for its fiscal second quarter. Firstly, it posted a March quarter record revenue of $89.6 billion, up by 54% year-over-year. Secondly, the company also reported quarterly earnings per diluted share of $1.40. Luca Maestri, Apple’s CFO had this to say, “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.” Given the impressive quarter, will you consider buying AAPL stock?
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Amazon.com
Amazon is a company that needs no introduction. The company has been dominating the e-commerce space for more than two decades because it’s been able to put together a simple shopping solution for most of the products you can think of. Aside from that, Amazon also has operations in the fields of digital streaming, artificial intelligence, and health care. Despite gaining massive traction with its Amazon Prime subscription, the company is still working hard to keep ahead of the competition.
You might not think Amazon would have a lot of growth opportunities in e-commerce considering how dominant it already is. However, if we look at the recent performance of the company, Amazon has posted strong growth in the past year. And that momentum continued in the first quarter of fiscal 2021. In detail, revenue came in 44% higher year-over-year to $108.5 billion, Meanwhile, net income more than tripled to $8.1 billion, and its earnings per share (EPS) soared by 215%. With analysts projecting revenue and earnings to grow 27% and 34% respectively, wouldn’t you agree that AMZN stock is one of the best stocks to buy on Robinhood?
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Palantir Technologies
Palantir is a software company that specializes in big data analytics. To put it simply, Palantir allows institutions to make the best use of their data. The company may have grabbed headlines as a meme stock, but its pipeline of new deals and partnerships are the things you might want to consider when making an investment in Palantir stock. As you may or may not know, the company has quietly become a major SPAC investor recently. It appears that Palantir has gotten keen on investing in SPAC deals, investing in at least six companies in less than three months.
Separately, Palantir’s recent partnership with augmented intelligence firm DataRobot will focus on bringing demand forecasting solutions to retailers. This is exciting news for many retailers considering that traditional supply chains weren’t always able to keep up with the pace of change in consumer demand and shipping logistics. This framework will utilize Palantir’s existing software to optimize many business operations. The meme stock popularity may have improved stock prices, but the partnership with DataRobot could be a better reason if you are considering investing in PLTR stock right now.
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PayPal
PayPal Holdings primarily services consumers via its online payments system. The likes of which span across 200 markets and cater to over 375 million users in the current global economy. Chances are if digital payment services are available in the region, so is PayPal. Given the wide reach of PayPal’s fintech offerings, PYPL stock could be another hot name on your list of top Robinhood stocks to buy.
The company’s answer to consumer financial service needs is its Venmo smartphone app. Aside from facilitating conventional digital cash transactions, Venmo also boasts crypto-related services. Put it simply, the company now also allows users to seamlessly make payments using cryptocurrencies. While the market may not be too hot for cryptocurrencies now, PayPal would be at an advantage should general adoption trends pick up again. Should all these favorable market conditions be in play, the company could be looking at exciting times ahead. Would you say the same regarding PYPL stock?
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NVIDIA
Nvidia continues to demonstrate broad-based strength across its data center businesses. The company’s software is used to power a wide array of products, from AI to data analytics and gaming, and even cryptocurrencies. It pioneered the graphics processing unit (GPU) industry and brought game-changing progress to the gaming and data center segments. In fact, it reported a smashing first quarter with data center revenue coming in 79% higher while gaming revenue doubled.
Recently, the company announced that it will be extending support for Arm-based CPUs in the Nvidia Aerial A1000 AI-on-5G platform, bringing more choice to its 5G ecosystem. The move will help Nvidia’s clients deploy intelligent services more easily by enabling the world’s leading OEMs to offer industry-standard servers running this CPU. NVIDIA is already a leading supplier of hardware in the data center market. It has penetrated the networking side with the acquisition of Mellanox. With the company’s prospects to also expand into software solutions, the company appears to be all set up for massive growth in data centers. For these reasons, is NVDA stock a buy right now?
