It’s not a secret that October is called as a month of falls. On October 19, 1987, The Dow Jones Industrial Average dropped by nearly 23% in one day. Moreover, in 1929 October, the Great Depression had started.
That does not mean that stocks are falling in every October; stocks often perform well during the month. For instance, the S&P 500 index increased in October in seven out of the last ten years. The question is how October 2020 will be for companies. You can see stocks that are top ones in October 2020.
Everyone knows that Facebook is one of the leading companies in the world. However, its stocks are relatively cheap right now. Therefore it is the exact time to buy. Facebook’s stocks are nearly 14% below its August high.
Additionally, the company’s shares trade at nearly 25 times expected earnings. But its PEG (price-to-earnings-to-growth) ratio, which factors in growth expectations up the following five years, is at a low 0.95. Any price-to-earnings-to-growth ratio under 1.0 indicates an attractive valuation.
Facebook delivered an 11% year-over-year revenue raise, in quarter 2, with its earnings doubling. The global pandemic indeed affected practically all companies; however, Facebook could come out from the epidemic strong.
The important news is that Facebook is gearing up for a big AR push following year. Analysts say it will be a winner in AR more than the rest of the decade.
American cloud computing services provider Fastly’s revenue increased by 62% year over year during the second quarter. Remarkably, Fastly’s revenue increase is stimulating. This rise stems from the improved adoption of the company’s content delivery networks (CDNs) and edge platform products. Undoubtedly, the Covid-19 epidemic has risen internet usage, which has increased demand for the company’s products.
Significantly, the company currently has less than 1% of this potential market. The stock has more than quadrupled in the last year; however, its market capitalization is less than $11 billion. Analysts say Fastly should be a winner over the following decade.