Robinhood has been in the news lately for a couple of different reasons. First, the company is looking to go public and recently filed a Form S-1. Companies file this form to register with the U.S. Securities and Exchange Commission before they go public. From this form, we learned that Robinhood had a great quarter…
Robinhood had 18 million net cumulative funded accounts by the end of the first quarter, a 44% jump from the end of 2020. This means that the company is doing quite well, and it continues to gain traction with a younger investor audience. The company has also been in the news as retail traders have been driving up the share prices of companies that may not reflect their fundamentals, also called meme stocks.
That’s why I took a look at Robinhood’s Top 100 list to get an idea of what stocks are popular with investors on their platform right now. While I saw some common names such as Tesla (TSLA) and Amazon (AMZN), I also saw a few meme stocks, including AMC Entertainment Holdings, Inc. (AMC). This led me to go through the top 100 list to identify my top three stocks, including Apple Inc. (AAPL – Get Rating), Nokia Corp. ADR (NOK – Get Rating), and Walmart Inc. (WMT – Get Rating).
While the iPhone makes up most of AAPL’s total revenue, the company has been benefiting from continued momentum in its Services segment. This has been driven by growth in the App Store, Cloud Services, Music, advertising, and AppleCare. The company’s near-term prospects look strong, driven by new 5G supported iPhones.
In addition, the company’s revamped line-up of iPad and Mac devices, the healthcare-focused Apple Watch, and an expanding App Store ecosystem bode well for the firm. The company is also gaining traction among enterprises, especially after its renewed focus on user privacy, reflected in its latest operating system updates.
AAPL also sees greater penetration in emerging markets, especially in China with regards to its 5G enabled iPhone 12 devices. The company has an overall grade of B, which translates into a Buy rating in our POWR Ratings system. The company has a Sentiment Grade of A as it is well-liked by Wall Street Analysts.
Thirty-three out of forty-one analysts who cover the stock rate it a Strong Buy or Buy. AAPL also has a Quality Grade of B, driven by solid fundamentals. The company had a whopping $69.8 billion in cash as of the most recent reported quarter, compared to only $13 billion in cash. AAPL also has a high return on equity of 110.3% and an ROIC of 41.4%.
We also provide Growth, Value, Momentum, and Stability grades for AAPL, which you can find here. AAPL is ranked #23 in the B-rated Technology – Hardware industry. You can find other top stocks in the industry by clicking here.
NOK is a leading vendor in the telecommunications equipment industry. The company’s network business derives revenue from selling wireless and fixed-line hardware, software, and services. Its technology segment licenses its patent portfolio to handset manufacturers and makes royalties from Nokia-branded cellphones.
The company is poised to benefit from the…
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