The latest IBD/TIPP survey shows the U.S. economy remains stuck in a rut, and President Joe Biden's job approval rating just slid to its worst level of 2023. Yet, the IBD Breakout Stocks Index features top-rated growth names like Celsius, Aehr Test Systems, Taiwan Semiconductor and many others focused on fielding or fortifying a crop of fresh breakouts.
The market indexes continue to show strength and resilience in the face of inflation and other worries. In addition to TSM stock, chip-sector plays ASML, KLA, ON Semiconductor, Rambus, Lam Research, Aehr Test Solutions and Marvell Technology have all etched a spot on the IBD Breakout Stocks Index.
Cloud computing and network stocks, such as Arista Networks, Dropbox, Extreme Networks and Cisco Systems have also landed on this screen.
Investors have also gone shopping for Shopify. Tuesday's IBD Stock Of The Day, SHOP stock continues to hold the bulk of its post-earnings gains. Wall Street estimates call for 715% EPS growth this year.
See Who Joins TSM And Other Top Growth Stocks On The IBD Breakout Stocks Index
Semiconductor Sector Stocks Lead
| Company | Symbol | Comp Rating | EPS Rating | RS Rating | Ind Group RS | SMR Rating | A/D Rating |
|---|---|---|---|---|---|---|---|
| Aehr Test Systems | AEHR | 99 | 79 | 99 | A+ | A | A- |
| ASML | ASML | 99 | 95 | 92 | A+ | A | B- |
| Rambus | RMBS | 99 | 97 | 98 | A+ | A | B+ |
| KLA | KLAC | 96 | 95 | 92 | A+ | A | B+ |
| Lam Research | LRCX | 95 | 88 | 93 | A+ | A | A- |
| Taiwan Semiconductor | TSM | 90 | 92 | 87 | C+ | A | B |
| Marvell Technology | MRVL | 90 | 58 | 94 | A+ | B | B+ |
| ON Semiconductor | ON | 89 | 85 | 91 | C+ | A | B |
Growth Stocks Exploring Bases And Buy Zones
The Innovator IBD Breakout Opportunities ETF tracks the growth stocks on the IBD Breakout Stocks Index. Updated weekly, the BOUT ETF enables investors to own a piece of TSM, ASML, ANET, SHOP stock and others with a single trade.
Showing their strength, Celsius, Rambus, Intuitive Surgical, Royal Caribbean and others on the BOUT ETF have cruised beyond buy range.
But you'll also find a number of top-rated growth stocks still in or near buy zones.
Just within the semiconductor sector, TSM, AEHR and ON stock fit that bill. Outside of chips, Wingstop, Adobe, Dexcom and many more are also setting up or looking to extend their climbs.
Even CSCO stock and banking powerhouse JPMorgan Chase are laying the groundwork for new moves.
While staying disciplined with sound rules for how to buy stocks and when to sell stocks, scan for chart patterns and potential breakouts in the full list of growth stocks on the IBD Breakout Stocks Index.
IBD Breakout Opportunities ETF
The IBD Breakout Opportunities ETF from Innovator Capital Management tracks the IBD Breakout Stocks Index. As with other index ETFs, this fund allows you to invest in the entire index in addition to, or rather than, buying individual stocks. Learn more here about the ETF and Innovator funds.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
