Top stocks to watch this week: Lululemon, Micron, DocuSign

The stock market remains on edge as the war in Iran continues.

Top indices have dropped, with the S&P 500 Index falling to $6,532, its lowest level since November 24. 

Similarly, the Nasdaq 100 Index dropped to $24,380, down from the year-to-date high of $26,300, while the Dow Jones Index fell to $46,470, down by 8% from its highest level this year.

Micron Technology is the top stock to watch 

Most large American companies have published their financial results this year.

This includes top companies like Microsoft, Nvidia, and Tesla.

Micron stock will be in the spotlight this week as it releases its numbers.

These results come as the stock nears the all-time high of $455.

It has jumped by 574%, bringing its market capitalization to over $479 billion.

These results come at a time when the world is facing a major memory chip shortage.

Analysts believe that the company will report strong financial results.

The average estimate is that its revenue rose by 138% in the last quarter to nearly $20 billion, while its earnings-per-share (EPS) rose from $1.56 to $8.65.

Analysts also believe that the current quarter’s revenue will be $22.4 billion, up by 141% from what it made last year.

As a result, the annual revenue will jump to $79 billion from $37 billion last year.

These numbers will make it the fastest company in Wall Street.

The results come as the valuation remains low,’with its forward price-to-earnings ratio being 11, much lower than the S&P 500 Index being at 23.

Lululemon stock in focus as its challenges remain

Lululemon is another top stock to watch as it trades at $157, its lowest level since September last year.

It is hovering at the lowest point since March 2020, and 70% below its all-time high.

Lululemon’s business has slowed substantially in the past few years as competition from companies like Nike, Adidas, and Under Armour has jumped.

Also, the company has made some recalls recently, with customers complaining that its products were see-through.

Lululemon’s management has come under pressure as the founder seeks to bring in new board members.

Analysts expect the upcoming report to show that its revenue dropped by 0.96% in the last quarter to $3.56 billion.

DocuSign (DOCU)

DocuSign is a top company in the software industry, where it provides cloud-based signature solutions.

It became highly popular during the pandemic and then plunged after that.

Its stock dropped from a high of $313 in 2021 to the current $47.

The company will be in the spotlight this week as it publishes its numbers on Tuesday.

Analysts believe that the upcoming results will show that its revenue rose by 6.70% in the quarter to $828 million and its earnings-per-share moving from 86 cents to 95 cents.

There will be other companies to watch this week. Nvidia will be in the spotlight as the company hosts its GTC Conference, where it will make new product announcements.

Tesla stock will also be in focus after the company announced that it will launch its AI fab soon.

Companies like Oklo, Williams-Sonoma, General Mills, Accenture,  and Five Below.