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5 Top Growth Stocks Worth Watching This Week

As the broader stock market rises towards fresh highs today, growth stocks appear to be back in fashion. For the most part, this would be thanks to a slew of positive updates on the economic front. To begin with, the U.S. Senate passed a $1 trillion infrastructure bill yesterday. Meanwhile, investors also appear to be reacting to the consumer price index (CPI) figures for July that were released earlier today. Namely, the CPI rose by 0.5% month-over-month, in line with consensus estimates. Also, core inflation, excluding the price for energy and food, rose by 0.3%, just under the forecast of 0.4% by economists.

What would all this mean for growth stocks now? If anything, it could give some of the hottest names in the space more room to run. This would be the case as the economy continues to rebound and inflation growth rates stabilize. Notably, most of the top growth stocks in the stock market today are stemming from the tech industry. For example, we could look at the likes of Google (NASDAQ: GOOGL) and Nvidia (NASDAQ: NVDA). Both companies are leading names in their fields and continue to bolster their offerings across the board. Overall, with the focus on top growth stocks right now, could one of these companies be worth watching now?

Best Growth Stocks To Watch In The Stock Market Today

Amazon is a growth company that has one of the largest online marketplaces in the world. The company also has a cloud computing and artificial intelligence business. It is also known for its disruption of well-established industries through technological innovation and mass scale. It distributes a variety of content through its Amazon Prime Video, Twitch, and Audible subsidiaries. AMZN stock currently trades at $3,294.06 as of 10:33 a.m. ET.

The company, on Wednesday, opened its $1.5 billion air hub in northern Kentucky. In essence, this will help accelerate Amazon’s push for faster delivery and greater control over its logistics network. The opening of this air hub will be a major milestone for Amazon Air, the company’s air cargo segment. The company was also recently awarded a secret cloud computing contract worth up to $10 billion by the National Security Agency. The NSA is pursuing a Hybrid Compute Initiative to meet its processing and analytical requirements while also holding onto intelligence data. Given the excitement surrounding the company, will you consider buying AMZN stock?

AMZNSource: TD Ameritrade TOS

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Apple Inc.

Next on this list is Apple, a multinational technology company that focuses on consumer electronics and online services. It is one of the most valuable companies in the world, with a market cap of $2.41 trillion. The company, like Amazon, also provides tech services like Apple Music and Apple TV. AAPL stock currently trades at $147.60 as of 10:33 a.m. ET. In late July, the company reported its third-quarter financials.

Diving in, Apple posted a record revenue of $81.4 billion, up by 36% year-over-year. Net income for the quarter was $21.74 billion, an impressive 93.2% increase compared to a year earlier. This record quarter included new revenue records in each of its geographic segments and double-digit growth in each of its product categories. Also, its services revenue also reached a new all-time high, at $17.49 billion. All things considered, is AAPL stock a top growth stock to buy right now?

AAPLSource: TD Ameritrade TOS

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Coinbase Global Inc.

Coinbase operates a cryptocurrency exchange platform. It offers a trusted and easy-to-use platform for accessing the broader crypto economy. Also, the company’s platform is available in over 100 countries and boasts over 68 million verified users. It also offers products for both retail and institutional cryptocurrency investors. Notably, its Coinbase Wallet allows customers to access decentralized crypto apps using a dapp browser. COIN stock currently trades at $264.01 as of 10:34 a.m. ET.

Just this week, the company reported a strong quarter with growth and diversification across its platform. Retail Monthly Transacting Users (MTUs) grew by 8.8 million, up by 44% from a year ago. Coinbase also reported that it has over 9,000 institutions that continue to deepen and broaden their activities in the crypto economy and has more than 160,000 ecosystem partners that use its crypto tools and services to engage with their own customers. Also, it generated $2 billion in net revenue and net income for the quarter was $1.6 billion. With such impressive financials, will you be watching COIN stock?

COINSource: TD Ameritrade TOS

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Adobe Inc.

Another name to consider among growth stocks now would be Adobe. In brief, the California-based computer software giant is a global presence today. Furthermore, through its holistic suite of design and productivity solutions, Adobe caters to a wide array of users. All of which can design and deliver top-quality digital experiences thanks to Adobe. With ADBE stock currently trading at $633.63 as of 10:34 a.m. ET, would it be worth investing in now?

If anything, Adobe does not seem to be slowing down at all on the operational front. Just yesterday, the company announced plans to bolster its Adobe Experience Cloud (AEH). Essentially, Adobe is currently expanding AEH towards the health care industry. According to Adobe, AEH will ideally improve the quality of care while reducing costs and “accelerating the transformation of digital care”. Currently, early adopters of Adobe’s early access include Pfizer (NYSE: PFE) and Walgreens (NASDAQ: WBA) among others. With Adobe looking to refine its offerings now, would you add ADBE stock to your portfolio?

ADBESource: TD Ameritrade TOS

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CrowdStrike Holdings Inc.

Topping off our list today is cybersecurity titan, CrowdStrike. The company offers a comprehensive array of digital security solutions for organizations across the globe. In detail, the CrowdStrike Falcon platform provides cloud workload and endpoint security, cyber-attack response, and real-time threat intelligence services. Overall, it is easy to see why CrowdStrike is considered an industry-leading player in the world of cybersecurity today.

More importantly, CRWD stock currently trades at $246.56 a share as of 10:37 a.m. ET after gaining by over 140% in the past year. Given the current focus on cybersecurity in our increasingly digital world, could it hold long-term growth potential? For one thing, the company does not seem to be resting on its laurels now.

CrowdStrike is currently working with Nihon Kohden America, a global leader in precision medical products and services. The duo is now looking to bring CrowdStrike’s best-in-class cybersecurity solutions to the health care industry. As a result, the CrowdStrike Falcon platform is now integrated into Nihon’s NK Network Care Service platform. Given all of this, will you be keeping an eye on CRWD stock?

CRWDSource: TD Ameritrade TOS

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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