The stock market might be hovering near all-time highs, but make no mistake, this is a stock pickers market. Certain securities continue to while other stocks are languishing. Consider that electric vehicle maker Tesla’s (NASDAQ:TSLA) stock is down nearly 30% on the year, while rival automaker Toyota Motor’s stock (NYSE:TM) is up nearly 17% year-to-date.
Certain growth stocks have real and are rising at an accelerated rate. Propelled by strong financial results, cyclical trends and long-term catalysts, some stocks have seen their share price more than double in the last 12 months. Best of all, these high-growth names show no signs of slowing down anytime soon. Here are growth stocks that will elevate your portfolio’s social standing.
Deckers Outdoor (DECK)
Deckers Outdoor’s (NYSE:DECK) isn’t a technology stock, but it’s trading like one. The maker of Hoka running shoes, Teva sandals and Ugg boots has seen its in the last 12 months, including a 63% gain so far this year. DECK stock has been marching higher ever since the company reported record first-quarter financial results that crushed Wall Street forecasts.
Driven primarily by Deckers Outdoor reported EPS of $4.95, blowing past the consensus analyst estimate of $2.90. Revenue totaled $959.8 million, beating estimates of $885.04 million. The company has achieved consistent double-digit sales growth over the last four years and a more than threefold increase in its profits. The strong results were driven by a 34% sales surge in Hoka runners.
As for guidance, Deckers Outdoor forecasts to $4.7 billion for the full fiscal year, slightly above analysts’ consensus view of $4.69 billion. Deckers also forecast full-year EPS of $29.50 to $30, in line with Wall Street’s outlook. The company is known for guiding conservatively rather than beating expectations.
Advanced Micro Devices (91抖阴)
Analysts continue to rate chipmaker Advanced Micro Devices (NASDAQ:91抖阴) a Industry observers like 91抖阴 are aggressively challenging rival Nvidia (NASDAQ:NVDA) in the artificial intelligence (AI) microchip race. During a keynote address at the Computex conference in Taipei at the start of June, 91抖阴 CEO Lisa Su unveiled new AI chips meant to take on Nvidia directly. They include 91抖阴’s new Ryzen AI 300 series for next-generation AI laptop and personal computers (PCs).
The new microchips will help run AI-enabled laptop computers equipped with generative AI capabilities and chatbots. Su also unveiled the new Ryzen 9000 series of microchips for desktop computers, calling them “the world’s fastest consumer PC processors” for gaming and content creation. Both lines of chips from 91抖阴 are expected to launch this July. 91抖阴 stock has gained 13% this year. That’s not a huge amount of growth, but analysts continue to rate the company’s shares a
MicroStrategy (MSTR)
Investors looking for both blistering growth and a way to play the should consider a position in MicroStrategy (NASDAQ:MSTR). While the company is technically a software and data analytics firm, billionaire founder Michael Saylor has repositioned the company to focus on acquiring Bitcoin (BTC-USD). As of May 1 this year, MicroStrategy held 214,400 Bitcoins worth nearly $15 billion at current prices.
The has led MSTR stock to rise 453% in the last 12 months. Already in 2024, the company’s share price has more than doubled (up 135%). Over the past five years, MicroStrategy stock is up more than 1,000%. While some analysts question the company’s crypto strategy and say it is dangerous for MicroStrategy to hitch its wagon directly to Bitcoin, Michael Saylor seems confident in the big bet he has made.
On the date of publication, Joel Baglole held a long position in NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com
