Are These The Best Tech Stocks To Buy This Month?
With the recent flurry of earnings beats among some of the biggest names in tech, tech stocks are taking center stage. After all, when it comes to growth, this part of the stock market remains an area of interest for investors. For the most part, this would be thanks to the industry’s laser focus on innovation and remaining relevant. Given the current state of the world, some would argue that the current interest in tech stocks could hold up. After all, the Delta variant of the coronavirus continues to ravage the globe today. In theory, popular stay-at-home names in the tech world would thrive should these market conditions persist.
Take Apple (NASDAQ: AAPL) and Skillz (NYSE: SKLZ) for example. On one hand, consumers across the globe turn to Apple when it comes to handheld and home electronics. So much so that the company raked in total revenue of $81.43 billion in its latest quarterly report. Even now, the company is rumored to be working on a new iPhone that boasts a disappearing camera notch. On the other hand, companies like Skillz are using tech to keep the general public entertained from their homes. This would be the case as demand for the company’s social gaming services remains at a high. Evidently, Skillz saw its total revenue increase by 52% year-over-year in its recent quarter fiscal posted last week.
By and large, the applications for tech in our world today continue to expand. With this expansion comes more opportunities than ever for investors to bet on the tech industry now. Could one of these tech stocks be top picks in the stock market today?
Top Tech Stocks To Buy [Or Sell] In The Stock Market Today
- Penn National Gaming Inc. (NASDAQ: PENN)
- Shopify Inc. (NYSE: SHOP)
- Intel Corporation (NASDAQ: INTC)
- Microsoft Corporation (NASDAQ: MSFT)
Penn National Gaming Inc.
Penn National Gaming may be a sports betting and entertainment company, but it has also made huge strides with tech. Namely, it has a 36% equity interest in Barstool Sports, a leading digital sports, entertainment, and media company. The company has also launched its Barstool Sportsbook app and products across several states in the U.S. In addition to that, it also operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, which launched iCasino and operates online sports betting. PENN stock currently trades at $72.26 after closing Thursday’s trading session up 9.09%.
Today, the company announced that it will acquire Score Media and Gaming (NASDAQ: SCR), a leading digital media and sports betting and technology company for approximately $2 billion in cash and stock. The transaction has been unanimously approved by the boards of directors of both companies and is currently expected to close in the first quarter of 2022.
Jay Snowden, President and Chief Executive Officer of Penn National, commented, “We are thrilled to be acquiring theScore, which is the number one sports app in Canada and the third most popular sports app in all of North America. theScore’s unique media platform and modern, state-of-the-art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content.” With that in mind, will you consider buying PENN stock?
Read More
- 4 Artificial Intelligence Stocks To Watch Right Now
- Best Lithium Battery Stocks To Buy Now? 4 To Know
Shopify Inc.
Shopify is a multinational e-commerce company that is headquartered in Ontario, Canada. In essence, the company is a leading provider of internet infrastructure for commerce, offering users the ability to start, grow, and manage a retail business of any size.
It also offers online retailers a suite of services that includes marketing shipping, and customer engagement tools. In fact, it powers over 1.7 million businesses in more than 175 countries. SHOP stock currently trades at $1,545.55 as of Thursday’s closing bell.
Last week, the company announced a record second-quarter earnings. Notably, it achieved its first $1 billion revenue quarter on record gross merchandise volume (GMV) at $1.12 billion, up by 57% year-over-year. Subscription Solutions revenue for the quarter was $334.2 million, up by 70% year-over-year primarily due to more merchants joining the platform. Net income for the quarter was $879.1 million or $6.90 per diluted share. It also ended the quarter with $7.76 billion in cash and cash equivalents. Given the impressive financials, is SHOP stock worth buying right now?
[Read More] Best Stocks To Buy Right Now? 5 Aerospace Stocks To Know
Intel Corporation
Intel is a multinational corporation and technology company that creates world-changing technology that enables global progress and enriches the quality of life of billions all over the world. It is involved in many cutting-edge technologies like artificial intelligence and 5G network transformation. Its product portfolio provides end-to-end solutions that address the needs of an ever-evolving data-centric world. INTC stock currently trades at $53.89 as of Thursday’s closing bell.
In late July, the company revealed one of the most detailed process and packaging technology roadmaps the company has ever provided. Diving in, Intel showcased a series of foundational innovations that will power products through 2025 and beyond.
The company highlighted its planned swift adoption of next-generation extreme ultralight lithography (EUV), referred to as High Numerical Aperture EUV. Intel is positioned to receive the first High NA EUV production tool in the industry. With that, it will be able to print incredibly small features using ultra-short wavelength light, which would yield better performance in its chip making. For these reasons, will you buy INTC stock?
[Read More] Best Stocks To Buy Right Now? 3 Marijuana Stocks For Your Watchlist
Microsoft Corporation
When it comes to tech, the Microsoft Corporation is a notable player in the industry today. Rightfully so as the company holds leading positions in many notable tech-based markets right now. This is apparent from the company’s world-class software offerings such as its Windows operating system and Microsoft Office productivity software. Across the board, Microsoft caters to the needs of both consumers and enterprises with its massive tech portfolio. Given the versatility and scale of the company’s offerings, would MSFT stock be worth watching now?
Notably, the company’s shares currently trade at $289.52 a stock as of the end of Thursday’s trading session. Even as it continues to trade towards newer heights, Microsoft seems to be kicking into high gear. In an official tweet posted yesterday, the company revealed that it has “reached capacity” for its Windows 365 trials. Despite only launching its new cloud PC service earlier this week, there seems to be an immense demand for it.
For the uninitiated, Windows 365 gives organizations access to virtual cloud-based PCs that run on Microsoft’s Windows operating system. In practice, this would allow employees to run Windows-based work applications from non-Windows devices. Safe to say, this groundbreaking innovation on Microsoft’s part appears to be a hit. Would all this make MSFT stock a top buy for you?
