Robinhood (HOOD 7.45%) isn't the hotbed of activity that it used to be. The stock market downturn caused the trading platform's sizzle to fizzle quite a bit.

Still, though, Robinhood keeps a pretty good pulse on which stocks retail investors like the most. Here are the three most popular Robinhood stocks right now -- and whether or not they're good picks to buy.

1. Tesla

Tesla (TSLA 1.78%) claims the No. 1 spot on Robinhood's 100 Most Popular list. The electric vehicle (EV) stock's steep decline this year doesn't appear to have negatively affected its relative popularity among retail investors.

It's not hard to understand why Robinhood investors like Tesla so much. Despite the dismal returns in 2022, the stock has been a huge winner over the past three years. Tesla's opportunities also remain enticing.

The company began shipping its first electric Semi trucks last week. Many believe that the Class 8 truck market could be especially lucrative for Tesla over the long term. Other green flags for the EV maker's future include its initiation of production of electric pickup truck Cybertruck and its increasing profits.

2. Apple

Apple (AAPL 1.67%) comes in second on Robinhood's ranking of the most popular stocks on its platform. This isn't surprising, considering that Apple remains the largest company in the world based on market cap and is a household name.

Although Apple's share price is currently down nearly 20% year to date, it outperformed the S&P 500 throughout much of 2022. The company reported better-than-expected fourth-quarter results in October even with significant headwinds.

Customers continue to flock to Apple's new versions of its iPhone, Apple Watch, and Mac products. Apple TV+ is picking up momentum (and winning lots of accolades). The company's services business is also rocking along. 

3. Amazon

Probably no one will be shocked that Amazon (AMZN -0.91%) ranks in third place on the Robinhood 100 Most Popular list. Like Apple and Tesla, Amazon is one of the biggest and most well-known companies on the planet.

Amazon also shares a less desirable commonality with the other two stocks: It's fallen sharply in 2022. The company's revenue growth is slowing. Macroeconomic uncertainty is the main culprit behind this trend.

However, Amazon's plunge of more than 40% makes the stock more attractively valued than it's been in quite a while. Many Robinhood investors have probably looked at the past times when Amazon fell so far below its previous highs and seen how the stock rebounded afterward.

Are they buys?

Different investors will have different views on each of these top Robinhood stocks. As for me, I'm most cautious about Tesla. I understand why many people like the stock. My concern, though, is that Tesla will face much stiffer competition going forward. And while CEO Elon Musk is a visionary, he now has more distractions than ever that could end up hurting Tesla over time.

I have a split opinion on Apple. The company is too dependent on China at a time when there's a lot of uncertainty in the country about COVID-19. This could make Apple stock highly volatile over the near term. But I still think that Apple will remain a solid winner for long-term investors. 

What about Amazon? Sure, the e-commerce and cloud hosting giant's growth is slowing. However, the factors behind this sluggishness should only be temporary. Amazon is reducing its spending to improve profitability -- a good move, in my view. The stock is as hard to value as ever. But I think now is one of the best times in years to load up on Amazon stock.