The Top 10 Stocks Trading At A 52-Week High In July 2021
MarketBeat.com | Jul 28, 2021 05:39AM ET
When a stock reaches its 52-week high, it is trading at its highest price in the past 12-month period. Many investors use 52-week highs as a factor in determining a stock's current value and as a predictor of future price movements. With that in mind, here are the top 10 stocks that have reached a new 52-week high as tracked by the MarketBeat stock screener as of July 26, 2021:h2 1. Microsoft /h2
Microsoft (NASDAQ:MSFT) has been making a habit out of hitting new 52-week highs. In 2021, MSFT stock is up over 32%, and it’s up 7% in the month ending July 23, 2021.
The company has been a pandemic winner and is seeing about one third of its revenue coming from its cloud business. Nearly another third of revenue is coming from its gaming vertical which has continued to see growth with the launch of a new x-Box console.
The tech giant reported earnings on July 27, 2021 and analysts are projecting that the stock will continue to reach new 52-week highs.
h2 2. AutoZone /h2AutoZone (NYSE:AZO) is one of the stocks advancing to its 52-week high, although the reasons are not very clear. Recent analyst ratings have been bearish on the stock, and the company won’t report earnings until September. With that said, a potential catalyst is simply that millions of Americans are deciding to travel by car this summer which is stimulating demand for auto parts. This can also be an indication that many Americans are, or will be, resuming their daily commute.
h2 3. Eaton /h2Eaton (NYSE:ETN) is a play on an infrastructure bill passing Congress. ETN stock has been the subject of three bullish upgrades by analysts in July. The stock enjoys heavy institutional ownership and pays a dividend that currently has a 1.95% yield. Eaton will report earnings on Aug. 3, 2021.
h2 4. Dollar General/h2Dollar General (NYSE:DG) has been a big winner during the pandemic, when it was s deemed an essential business. And because they serve many small towns and rural areas not frequently covered by a chain such as Walmart (NYSE:WMT), Dollar General has been able to deliver strong revenue throughout the pandemic. They have used this time to expand the a supplier to the world’s leading chipmakers . ASML stock has hit its 52-week high after delivering a mixed earnings report that saw the company slightly missed on revenue, but beat on the bottom line.
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