Best WallStreetBets Stocks to Buy December Week 3 Roundup

This month has been pretty hard for meme stocks which were once popular on Reddit group WallStreetBets. Some of the favorite stocks of the group like Clover Health have fallen to an all-time low.

WallStreetBets has also been losing its popularity and is not as popular as it was in the first quarter of 2021. Meanwhile, some of the stocks on the group look good buys. Here are the five such stocks that you can buy now.

1. Pfizer (NYSE: PFE)

Pfizer is among the popular stocks on WallStreetBets. Vaccine stocks have been trending after the emergence of the omicron variant of the COVID-19 virus which was first identified in South Africa but has since spread to many countries. Pfizer stock rose to a new all-time high yesterday amid increasing cases of the omicron variant.

According to Pfizer, the company’s COVID-19 vaccine is effective against the omicron variant with a booster dose. The company’s COVID-19 vaccine is the only one to have received full FDA approval. The FDA has also extended the eligibility of Pfizer booster shot to all adults.

WallStreetBets likes Pfizer stock as omicron cases rise

Last week, Wells Fargo initiated coverage of Pfizer stock with an overweight rating and $60 target price. “We think the Street is underestimating PFE’s potential to dominate the COVID market for years to come,” said Wells Fargo analyst Mohit Bansal. Meanwhile, PFE stock has surged over the last week and surpassed Bansal’s target price.

He believes that COVID vaccines would become an annual feature and help make Pfizer $5 billion every year “for the foreseeable future.”

WallStreetBets members are also positive on Pfizer stock amid the rising cases of the omicron variant. Meanwhile, along with the sales of the COVID-19 vaccines, Pfizer also has a healthy portfolio of under development drugs. The successful commercialization of these drugs would drive the stock in the long term.

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2. Apple (NYSE: AAPL)

Apple stock has been a WallStreetBets favorite for quite some time now. The stock hasn’t disappointed and with a YTD gain of almost 30%, it is now the second-best performing FAANG stock. The stock is also outperforming the S&P 500 after having underperformed the index for the most part of 2021. Apple stock looks set to hit the milestone of a $3 trillion market cap looking at the strong momentum.

Apple is among the stocks that you can hold for a lifetime. It’s the largest holding for Berkshire Hathaway and the conglomerate is the second-largest shareholder in the iPhone maker. While Warren Buffett largely stays away from tech companies, he made an exception for Apple. Meanwhile, Buffett does not see AAPL as a tech company but as a consumer products company. Incidentally, he also switched to an iPhone last year.

WallStreetBets likes Apple and sees it moving higher

WallStreetBets members expect Apple stock to surge even higher. The company is benefiting from several secular trends including the digital transformation. Its pivot towards services business and the continuing 5G supercycle would also support the stock. The company’s rumored pivot towards electric cars would also add value over the long term.

Incidentally, EV stocks have been quite popular on WallStreetBets and currently Tesla and Rivian are among the top discussion topics on the group.

That said, Apple looks among the best WallStreetBets stock to buy for the long term. Short-term volatility notwithstanding, it’s among those rate WallStreetBets stocks that you can hold for life.

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3. FedEx (NYSE: FDX)

FedEx stock is also among the top discussion topics on WallStreetBets after its fiscal second-quarter earnings release. The company shattered both topline and bottomline estimates and also raised its guidance for the year. It also announced a $5 billion stock repurchase program that seems to have gotten bulls and WallStreetBets members charged up.

WallStreetBets members are mixed on FDX stock

Meanwhile, WallStreetBets members are almost equally divided over FedEx stock. Wall Street analysts also have a mixed opinion of the company even as we might see some target price revisions post the earnings release.

FedEx stock has been under pressure amid labor issues which have now been easing. Next year, these issues should ease even further. The planned price hikes for the next year will also help FDX protect its margin. The stock has come significantly off its 52-week highs. While some of the fall was warranted, considering the near-term earnings compression, the stock fell a little too much. At current levels, FDX stock looks like a good buy.

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4. Nvidia (NYSE: NVDA)

Nvidia stock has fallen sharply from its 52-week highs and the valuations now look quite reasonable. Most WallStreetBets members are also bullish on the stock. Over the last month, several Wall Street analysts have also raised the stock’s target price.

Despite the recent crash, the stock is among the best performing S&P 500 constituents this year, just as it was last year. Nvidia is also a play on metaverse and the industry could be the next big driver for the stock. UBS has listed Nvidia as a top metaverse stock to buy.

Most WallStreetBets members are bullish on NVDA stock

Wall Street analysts are also bullish on NVDA stock and earlier this month, Citi named it as a top pick for 2022. “We update our coverage rankings post 3Q earnings and into 2022. Overall, we prefer semi caps over semis on ~10% valuation discount to 5-year historical average and see a path towards $100B WFE (wafer fabrication equipment),” it said in its note.

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5. Amazon (NYSE: AMZN)

While Amazon has featured among the top discussions on WallStreetBets multiple times this year, its price action has disappointed. It is underperforming the markets this year and has been the worst-performing FAANG stock of the year.

Amazon has been facing growth concerns and its revenue growth has missed estimates for two consecutive quarters. It was the first time in three years that the e-commerce giant missed earnings estimates.

Along with that, the company has been facing stiff competition in the cloud industry. While the company is still the market leader in cloud, competitors are fast catching up. Notably, Amazon’s cloud operations are its most profitable business segment.

WallStreetBets expects Amazon to bounce back

WallStreetBets members expect Amazon stock to bounce back, so do Wall Street analysts. Many brokerages including Cowen, Bank of America, and Goldman Sachs have listed Amazon as a top pick for 2022.

Amazon stock should rebound next year as the cost headwinds subside. Also, the company would not face the kind of tough comps next year that it is facing this year. Overall, Amazon is one WallStreetBets stock that should be on your radar in December 2021.

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