While it’s tempting to focus solely on your holiday shopping list during December, diligent investors should also be interested in adding shares of companies that could close out the year in a big way.
With the potential for a “Santa Rally” and new market leaders emerging regularly, it’s safe to say that there are plenty of great companies to watch heading into the final month of the year.
Each one of these stocks has something different to offer and could be in for a big December and beyond. Let’s take a deeper look at them below.
1. Advanced Micro Devices
While technology stocks have been relatively quiet lately, companies like Advanced Micro Devices (AMD) could be in for a big December. The hottest Christmas gifts this year are the latest video game systems, Sony’s Playstation 5, and Microsoft’s Xbox Series X.
It just so happens that AMD’s graphics cards power both of those systems, which means that the stock could see a nice boost as the holiday sales numbers for those gaming systems start to come in. Regardless of any short-term factors, AMD is absolutely a company that investors should hold on to for the long-run.
2. Costco Wholesale Corporation
Nothing says the holidays quite like heading into a massive retailer such as Costco to stock up in bulk on all of the things that help to make this time of the year so special. The company reports its first quarter 2021 earnings on Dec10 and has a chance to rally into the release.
It’s always difficult to find one of Costco’s 795 warehouses that isn’t busy, which tells investors a lot about how successful of a company it is. Sales for the membership warehouse retailer have been strong throughout the year as consumers purchased tons of essential items throughout the pandemic.
Costco recently reported a net income of $4 billion for the financial year 2020, which was a 9% year-over-year increase.
3. Slack Technologies
The remote work revolution has completely changed the way that the business world operates. Companies like Slack Technologies are at the forefront, as its team communication platform is helping millions of remote workers collaborate effectively.
The platform offers a secure, enterprise-grade environment that can scale with even the largest companies in the world. Companies can connect all of their existing software tools and services to Slack and keep everyone on the same page so that no important task falls beneath the cracks.
Slack should see strong revenue growth in 2021 as more and more companies look to communication and collaboration tools in the wake of COVID-19.
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