Looking for stocks to buy; here are five hot stocks to watch

Jessica Amir
Market Strategist

Summary:  US earnings season is about to get underway, and Australia’s financial year reporting just wrapped up, so let's cover five hot stocks to watch. General Mills is the best performing US stock this week in the S&P500 after the Wheat price gained 24% in the month. Pilbara Minerals, is one of this week's best performers in the ASX after selling its lithium for a record price this week to China. Whitehaven Coal is another to watch, as it's benefiting from surging coal demand and prices, with its shares trading at brand new record highs in anticipation of another record profit. Lastly, we cover why Tesla and Apple are two of the most traded stocks at Saxo in September.

General Mills 

  • General Mills is the biggest wheat exporter in the US
  • Its shares have been outperforming the market and are of the best performers in the US this year, up 22%
  • Its shares are picking up momentum as the Wheat (WHEATDEC22) price has gained 24% in a month
  • So what’s moving Wheat higher into a technical uptrend?
    • South America wheat supply has been impacted by frost and rain,
    • US supply is expected to fall due to dry conditions and drought in the US
    • Heavy rains are headed for Australia for the third year in a row amid La Nina
    • And lastly – with Russia mobilizing troops against Ukraine, this adds to supply concerns for Wheat, on concerns Ukraine’s export terminal could be shut once more.
  • So General Mills is a stock to watch, as the wheat price rises, it boost its cashflow and share price growth. 

Pilbara Minerals

  • Pilbara Minerals is Australia biggest exporter of lithium
  • Its shares have gained almost 50% this year as the lithium price tripled in the last year, fueled by electric vehicle demand
  • Pilbara Minerals auctioned off its lithium spodumene concentrate (or partly processed lithium) for a record price of AUD$7,708 with the shipment to go to China
  • So who is buying Pilbara’s lithium? Two of Pilbara’s most known customers include China’s Genfeng and the car maker Great Wall.
  • So what’s next?
    • Well if the lithium price continues to rally amid the lack of supply and rising demand, Pilbara’s shares could stay elevated supported by expectations that higher cashflow and earnings growth are ahead.
    • The International Energy Agency (IEA) forecast lithium demand to grow more than 40 times over the next two decades
  • Pilbara operates on a Price to Earnings (PE) ratio of 25 times forward earnings estimates, which is comparatively cheaper than its peers. So Pilbara could be a stock to watch.

Whitehaven Coal

  • Whitehaven is Australia's biggest exporter of coal and the best performing stock in the global share market this year, among large companies
  • Its shares are up 250%
  • Last financial year Whitehaven's earnings rose 1,500% boosted by the coal price soaring to new record highs
  • So what's next?
    • The coal price is surging amid a lack of coal supply and rising demand 
    • Demand for coal has been increasing as the world searches for cheap access to emergency energy
    • Regions like India are experiencing a heat waves, while Australia has been hit by its coldest winter on record.
    • The coal futures price, which is an indication of the future price of coal, is also continuing to move further higher into new record highs, simply telling us, that the spot coal price is likely to move higher yet again, as the world is facing a lack of energy reserves, and forward demand is also increasing.
    • Peak coal demand season is December and January, so we expect the coal price to move higher as demand increases from coals biggest consumers (India and China) amid their winter. 



    • Tesla is one of most traded stocks at Saxo globally this month
    • Across the world, Tesla electric vehicles are one of the most bought electric vehicles
    • Its shares have had a bumpy ride this year, as the company’s been plagued by higher raw materials and commodity costs
    • Although Tesla shares rallied up 50% from than their May low, there are now concerns some of those gains could fade, as the lithium price is back at record highs
    • However on the positive side for Tesla; 
      • Tesla is increasing some of its costs, such as increasing the price of supercharger station use in Europe
      • And Tesla is controlling other costs where possible, by looking to make in-house battery cells
      • As for new revenue streams; the Cybertruck’s production is set for mid-2023
      • Across Europe, Tesla is aiming to increase sales. For instance in Germany it wants to double sales growth, compared to last year, after opening new stores
      • And in the US, across the entire electric vehicle market, all EV sales are expected to rise after the United States introduces new climate law and tax credits. Bloomberg estimates total EV industry sales will make up 52% of total car sales by 2030. That’s a huge jump compared to the 5% last year. And Tesla will be capturing some of this growth
    • Tesla trades at a Price to Earnings (PE) ratio of 109 times forward earnings estimates, which make it looks expensive compared to Ford’s PE of 7 times.
    • Given commodity prices are likely to continue to rise, and Bloomberg estimates suggest Tesla’s margins could be flat this year, before picking up in 2023, you might expect Tesla's shares be pressured before potentially rebounding later next year.


    • Apple is the one of the most traded stocks at Saxo globally this month
    • Its shares have also had a bumpy ride, but its innovation should support the company’s shares growing in value over the long term
    • Interestedly, Apple’s iPhone sales generate half of the group’s total revenue, and last quarter, total revenue stood at about $41 billion
    • Apple's launch of its new iPhone, including its most expensive model yet, the iPhone 14 Pro model should also help next quarterly earnings.
    • Why?
      • Well iPhone 14 shipments are said to account 60-65% of orders, which is up from the previously estimated range of 55-60%. This means Apple could have a positive outlook when they release their next quarterly earnings in late October.
      • Apples new watch and air pods should also bolster Apples outlook
      • And going forward, Apple's customer retention is set to expand as it moves to a new subscription model.
      • Apple estimates 98% of its customers want to upgrade their phone each year.
    • So that’s a reason to perhaps consider Apple for the long term

To find out more about the these companies or other opportunities, head to Saxo's Platform.  



Saxo Capital Markets (Australia) Limited prepares and distributes information/research produced within the Saxo Bank Group for informational purposes only. In addition to the disclaimer below, if any general advice is provided, such advice does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of trading any financial instrument as trading can result in losses that exceed your initial investment. Please refer to our Analysis Disclaimer, and our Financial Services Guide and Product Disclosure Statement. All legal documentation and disclaimers can be found at https://www.home.saxo/en-au/legal/.

The Saxo Bank Group entities each provide execution-only service. Access and use of Saxo News & Research and any Saxo Bank Group website are subject to (i) the Terms of Use; (ii) the full Disclaimer; and (iii) the Risk Warning in addition (where relevant) to the terms governing the use of the website of a member of the Saxo Bank Group.

Saxo News & Research is provided for informational purposes, does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. No Saxo Bank Group entity shall be liable for any losses that you may sustain as a result of any investment decision made in reliance on information on Saxo News & Research.

To the extent that any content is construed as investment research, such content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication.

None of the information contained here constitutes an offer to purchase or sell a financial instrument, or to make any investments.Saxo Capital Markets does not take into account your personal investment objectives or financial situation and makes no representation and assumes no liability as to the accuracy or completeness of the information nor for any loss arising from any investment made in reliance of this presentation. Any opinions made are subject to change and may be personal to the author. These may not necessarily reflect the opinion of Saxo Capital Markets or its affiliates.

Please read our disclaimers:
- Full Disclaimer (https://www.home.saxo/en-au/legal/disclaimer/saxo-disclaimer)
- Analysis Disclaimer (https://www.home.saxo/en-au/legal/analysis-disclaimer/saxo-analysis-disclaimer)
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)

Saxo Capital Markets (Australia) Limited
Suite 1, Level 14, 9 Castlereagh St
Sydney NSW 2000

Contact Saxo

Select region


The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-au/about-us/awards

Saxo Capital Markets (Australia) Limited ABN 32 110 128 286 AFSL 280372 (‘Saxo’ or ‘Saxo Capital Markets’) is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms, Financial Services Guide, Product Disclosure Statement and Target Market Determination to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Saxo Capital Markets does not provide ‘personal’ financial product advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Capital Markets does not take into account an individual’s needs, objectives or financial situation. The Target Market Determination should assist you in determining whether any of the products or services we offer are likely to be consistent with your objectives, financial situation and needs.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the US and other countries. AppStore is a service mark of Apple Inc.

The information or the products and services referred to on this website may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website is not intended for residents of the United States and Japan.

Please click here to view our full disclaimer.