The stock market has experienced remarkable growth over nearly a decade.
2017 has continued that trend, as the Dow rises above 23,000. A lot of times a rise in prices in the stock market is driven by just a few hot companies. After a little digging and sniffing around, we’ve compiled a list of the hottest publicly traded companies.
Netflix (NASDAQ: NFLX)
Netflix has been on a winning spree this year, recording great momentum with the stock performing beyond expectations. The company’s shares are up 64% this year. Thanks to the intelligent decision to increase its number of subscribers, the results are paying off and more importantly, reflecting positively on the market.
Even after announcing its latest price increase, company shares have continued to rise. The company’s net income in the third quarter stands at $130 million and revenue hitting the $2.98 billion mark, a 30% percent increase over estimates. Finally, Netflix crushed their expectations surrounding new signups, adding 5.3 million subscribers in Q3 versus estimates of 4.4 million.
Amazon (NASDAQ: AMZN)
The list would not be complete without Amazon, considering that the company has continued to impress market analysts and investors. There’s no drawing back for Bezos’ internet empire as share prices continue to rise a little above the $1000 mark, up nearly 30% for the year.
Source : Amazon
There’s no one driving event that sums up Amazon’s continued success, but they have had a great year in their cloud computing division – increasing sales from about $8 billion to $12 billion. Amazon also took everyone by surprise with their decision to purchase Whole Foods so there may be more fireworks to come from the tech giant.
Adobe (NASDAQ: ADBE)
Adobe’s shares recovered last month after taking a small tumble. Year to date, however, the company has been spectacular – increasing their share price by nearly 50%. Despite the stock being congested in the area between $150 and $ 154, traders are looking for a favourable moment to grab shares as they begin to rally again.
Adobe has had a really good year and their share price reflects that. The business reported record revenue, at $1.73 billion, representing a nearly 5% increase over last year. The majority of their good fortune is driven by their Digital Media business segment, which is all of their Creative software and cloud offerings.
Apple (NASDAQ: AAPL)
Despite the stocks of Apple taking a dip shortly after its most recent product announcements, the tech giant looks set to rally after its November earnings report. Apple’s stock fell from $164 to $150 after its major event last month. The current price stands somewhere around $160 but is expected to rise in the coming weeks.
Overall the tech giant is doing very well in 2017, posting a nearly 40% price uptick. The interesting thing is that even at this stage, Apple might still be undervalued relative to the rest of the market. Warren Buffet’s fairly recent purchases seem to indicate his confidence in the company. Maybe we should follow suit?
Boeing (NYSE: BA)
Most of the companies on this list are tech companies, except for Boeing. If you are looking for a public company that is hot right now, look no further than the famous aerospace firm. Year to date, their stock price is up around 65% – rising from $150 a share in January to nearly $260 in October 2017.
Source : Boeing
The essence of the business – built around civilian aircraft sales – is growing, signaling good health. Sales of the Boeing 737 and 787 are keeping Boeing in the air and the cash flowing. The Boeing 777 is however a point of concern but all the extra money coming in means Boeing can afford to strategize and build from this strong base.