• Microsoft (NASDAQ:MSFT) – Look past the good (and bad) headlines; this is becoming a forever stock
• Meta Platforms (NASDAQ:FB) – The much-maligned tech stock may appeal to value investors
• Nike (NYSE:NKE) – The premium brand is proving to investors that it’s becoming inflation-proof
• Home Depot (NYSE:HD) – Looks like a deep value stock with a growing dividend
• Starbucks (NASDAQ:SBUX) – Don’t let a change at the top distract you from the revenue story
• Micron Technology (NASDAQ:MU) – A semiconductor stock that offers both growth and value
• Wendy’s (NASDAQ:WEN) – The company is getting a bump from March Madness

In 2021, Reddit stocks became synonymous with meme stocks. This was always a little unfair. It’s true that the meme stock mania was driven in large part by a Reddit subgroup (i.e. a subreddit) known as r/Wallstreetbets.

There seems to be this misunderstanding that says Reddit stocks are intended to be short-term trades more than buy-and-hold staples. That isn’t true anymore.

The Reddit community is made up of retail investors of all stripes. These are active, and at times activist, investors who are well informed. So if investors are looking to find stocks that have momentum, they would be wise to pay attention to what stocks are trending on Reddit.

Here are seven stocks that Reddit investors are posting about. Many investors would be glad to have these in their portfolio at any time and particularly as we start the second quarter.

MSFT	Microsoft	$308.31
FB	Meta Platforms	$222.36
NKE	Nike	$134.56
HD	Home Depot	$299.33
SBUX	Starbucks	$90.97
MU	Micron Technology	$77.89
WEN	Wendy’s	$21.97

Microsoft (MSFT)

In the span of a week in March, Microsoft went from being a hero for its stance on the Russian invasion of Ukraine to a villain that was facing bribery charges. But MSFT stock is up 4% in the last 30 days. It’s also up 27% in the last 12 months.

Analyst consensus has the stock climbing nearly 15% from its current price.

Microsoft demonstrated its essential utility during the pandemic with its Teams productivity software. The company also gives investors exposure to a leader in the enterprise cloud computing markets well as to leading-edge sectors such as virtual reality, gaming and cybersecurity.

As evidence the company’s strategy is working, Microsoft has continued to deliver earnings and revenue that beat on a year-over-year basis. And the company continues to return value to shareholders.

Reddit Stocks to Buy: Meta Platforms (FB)

Meta Platforms, the parent company of Facebook, is making news with its $10 billion investment into the metaverse. However, Meta Platforms is an example of the “new normal” for assigning valuations to companies.

Essentially, metrics like price-to-book don’t necessarily fit a company that has intangible assets like monthly active users (MAUs).

FB stock has been punished over concerns about the viability of Facebook’s ad-centric approach as Apple (NASDAQ:AAPL) is allowing iPhone users to be more selective about how apps, such as Facebook, can track their activity.

Meta Platforms has 300 billion active users and a P/E ratio that makes the stock 40% “cheaper” than Apple.

When you combine that with a war chest of cash and significant inroads into virtual reality via its Oculus headset, FB stock may offer solid value as it begins its climb back.

Nike (NKE)

Nike proved many analysts wrong by delivering a strong earnings report.

One of the key takeaways for bullish investors can be seen in increasing margins despite rising costs, supply chain disruptions and a Chinese boycott of the company’s products.

The fact that a premium brand is outpacing expectations in an inflationary environment is making analysts rethink their price targets. Many are now suggesting that NKE stock will be testing its 52-week high in the next 12 months.

An interesting note is that, in the last two weeks, NKE stock is rising in tandem with Lululemon (NASDAQ:LULU) stock.

This could be giving credence to the idea that Nike is improving its e-commerce sales, an area where Lululemon has a clear advantage. The stock is also seeing a rise in institutional buying. This will be something for investors to watch carefully as institutional buying can drive stock prices higher.

Reddit Stocks to Buy: Home Depot (HD)

Home Depot illustrates the depth and breadth of the market sell-off.

From the onset of the pandemic, the home improvement retailer was a hero stock. Investments in its omnichannel capabilities paid off for home-bound customers.

The company also benefited from re-opening trade. In this case, the company saw increased demand from its commercial PRO business.

None of that stopped HD stock from falling more than 26% from its 52-week high. However, the company’s last earnings report showed why the stock may have found a bottom.

In addition to a consensus price target that suggests the stock may grow by 28%, investors are buying shares in a company that consistently rewards shareholders.

HD just increased its dividend by 15% which brings the annual payoff above $7 per share.

Starbucks (SBUX)

Like Microsoft, Starbucks is making news and not all of it is good. The company is looking for a new CEO, and there’s a growing cry for unionization among company employees.

These are generally enough for investors to throw up the caution flags at least.

Thus far the company has been able to pass along some of its cost pressures to its loyal customer base. If the move to unionize becomes more organized, though, it will put pressure on the company’s margins and earnings.

However, on more than one occasion, Starbucks has proven that it doesn’t pay to bet against SBUX stock.This may be another one of those times.

The company received a key upgrade from JPMorgan Chase (NYSE:JPM) following its last earnings report, and institutional investors are still standing by the stock.

Reddit Stocks to Buy: Micron Technology (MU)

By any measure, Micron Technology delivered a terrific earnings report. However, after an initial spike upwards when the market opened, MU stock continued retreating.

It’s down 18% year-to-date. Opportunistic investors who didn’t buy the stock before earnings may be getting a second chance.

For investors looking for both growth and value, it’s difficult to find a stock with a better setup than MU. By almost any metric, the stock is fundamentally undervalued.

Micron is projecting strong earnings and revenue growth in upcoming years.

Analysts give the stock a 40% upside and with more upgrades likely to come in over the next few weeks, now may be a good time to scoop up shares. Investors may not be getting a discount like this for much longer.

Wendy’s (WEN)

For a brief moment in 2021, incredulous investors had to be asking “Where’s the Beef” when looking at Wendy’s stock price.

Maybe the Reddit crowd was ahead of its time, because if analysts are correct, WEN stock may be trading around its former 52-week high sometime in the next 12 months.

To be fair, Wendy’s isn’t going to be dethroning McDonald’s in the burger wars, but the company is aggressively expanding its menu and is taking aim at the latter’s supremacy as the go-to fast food breakfast option.

Fans of “March Madness” have undoubtedly seen a commercial (or eight) of Wendy’s as they are a heavy sponsor of the tournament. The Stock saw a spike during the tournament, but most of those gains have been given back.

On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.