Tesla, Nvidia, 3 IPOs Among Top Stocks To Watch In 2022

With 2022 now underway, tech stocks like Tesla (TSLA), Nvidia (NVDA), Advanced Micro Devices (AMD), Microsoft (MSFT) and Alphabet (GOOGL) dominate IBD Leaderboard.

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In addition to earning a spot on the Leaderboard list of top growth stocks, TSLA, AMD, and NVDA also make the IBD Big Cap 20. Plus, tech stocks GOOGL, MSFT and ServiceNow (NOW) have secured placement on IBD Long-Term Leaders.

Alphabet and AMD also made a recent list of today’s fastest-growing stocks.

Showing strength across a range of sectors, medical, agrochemical and energy stocks also appear on Leaderboard. Icon (ICLR), Nutrien (NTR) and Oasis Petroleum (OAS) are among the nontech stocks represented.

Find Top Stocks Near Buy Points With IBD Leaderboard

Tesla Stock Gaps Up To Ring In 2022

On blowout deliveries for Q4, Tesla gapped up Monday to move into an alternative buy range. The stock rose nearly 13% in rising volume.

With Q4 and 2021 earnings due Jan. 27, Tesla has already posted three straight quarters of triple-digit earnings growth. Analysts forecast 140% EPS growth for Q4 and a 169% increase for the full year. For 2022, analysts estimate 46% earnings growth.

Nvidia jumped out to a happy new year, but came off the day’s highs. It ended the first session of the year up over 2% in rising but below-average volume. AMD has joined the celebration, spiking over 4%, again in rising but below average trade.

Meanwhile, fellow tech leaders Microsoft and Alphabet are testing support and resistance at their 50-day moving average lines.

With Q4 earnings reports around corner, keep an eye on the earnings calendar to track when Alphabet, Microsoft, AMD and other tech stocks are set to report.

Newer IPOs Airbnb, Snowflake and Roblox On Watchlist

Airbnb (ABNB), Snowflake (SNOW) and Roblox (RBLX) have joined the IBD Leaderboard watchlist.

All three of these IPOs currently trade below their 10-week lines as they try to regroup.

After reporting 239% earnings growth in Q3, Airbnb is set to release Q4 and 2021 numbers on Feb. 25, with analysts expecting a 107% EPS increase. Following a quick rise from its December 2020 IPO, ABNB stock fellow into a long and deep consolidation — not uncommon during the turbulent coronavirus stock market. Look for the travel industry to rebound and for Airbnb to retake its 10-week line and break out. On Monday, Airbnb rose over 3% in below-average but rising volume.

SNOW stock has shown somewhat similar action since its stock market debut in September 2020. The cloud-based data warehousing stock is trying to set up a new consolidation and retake its 10-week line. While Snowflake tries to become profitable, sales growth has been impressive, averaging annual sales increases of 133% over the last three years.

Hailing from the class of 2021 IPOs, game developer Roblox is also trying to gather its strength. After more than a 42% gain Nov. 9 on earnings, RBLX stock continued to soar to new highs until Nov. 22. It has since given back all those gains, falling below its 50-day line. Like Snowflake, Roblox has posted strong sales growth, averaging 80% annual revenue gains over the last three years.

As we wait for the next earnings reports from Roblox (Jan. 28), Airbnb (Feb. 25) and Snowflake (March 3), keep an eyes of the relative strength lines for these IPOs. See if those lines can begin trending higher to show rebounding market leadership.

Tracking the relative strength lines for more established companies like Tesla, Alphabet, Microsoft and AMD will also help you gauge how these growth stocks are performing in the new year.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.

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