Technology

Top Stock Picks for Week of July 27, 2020

Dollar General Corporation DG, is one of the largest discount retailers in the United States. Shares of Dollar General have risen and outpaced the industry in the past six months. The stock may scale new highs with solid prospects, brand recognition and strategic endeavors likely to act as propellants. Better pricing, private label offering, inventory management, and merchandise initiatives should drive sales. These along with focus on consumable and non-consumable categories with impressive comps run are noteworthy. Also, in the wake of coronavirus outbreak the company has been witnessing a healthy demand. A reflection of the same was visible in first-quarter fiscal 2020 results, wherein both the top and the bottom line beat the Zacks Consensus Estimate and grew year over year.

Micron Technology MU, has established itself as one of the leading worldwide providers of semiconductor memory solutions. Micron is benefiting from solid memory-chip demand from data-center operators as more and more workers and students work and learn from home amid coronavirus-led social distancing measures adopted globally. Furthermore, the company is well poised to benefit from the resurgence in DRAM demand, backed by a progress in customer inventory adjustments in the cloud, graphics and the PC markets. Increasing mix of high-value solutions, enhancement in customer engagement and improvement in cost structure are positives. Growing demand from cloud-computing providers and acceleration in 5G adoption are an upside.  Micron’s third-quarter fiscal 2020 results reflect that the company stood resilient to the coronavirus impact on global economic and business activities. Micron is a cash rich company with a strong balance sheet.

Zacks Top 10 Stocks for 2020

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?

Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2020 today >>


Click to get this free report

Micron Technology, Inc. (MU): Free Stock Analysis Report

Dollar General Corporation (DG): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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

Latest Technology Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More