The tech sector is a dynamic and influential part of the stock market. It encompasses companies that create and sell technology products or services. This includes software developers, hardware manufacturers, social media platforms, and many others. Tech stocks represent ownership in these innovative companies. They often attract investors due to their potential for rapid growth and market disruption.
Investing in tech stocks can offer several benefits. Many tech companies are at the forefront of innovation, potentially leading to high returns. They often have scalable business models, allowing for rapid expansion. Tech firms can also be more agile, adapting quickly to market changes. However, tech stocks come with risks. The sector can be volatile, with sharp price swings. Competition is intense, and today’s leader may quickly become obsolete. Regulatory challenges and cybersecurity issues can also impact tech companies.
When considering tech stocks, thorough research is crucial. Look at a company’s financial health, market position, and growth strategy. Understand the competitive landscape and potential technological disruptions. Diversification within the tech sector or across other industries can help manage risk. Stay informed about technological trends and their potential market impact. With that being said, here are two tech stocks to watch in the stock market today.
Tech Stocks To Watch In The Stock Market Today
- CrowdStrike Holdings Inc. (NASDAQ: CRWD)
- Meta Platforms Inc. (NASDAQ: META)
CrowdStrike Holdings (CRWD Stock)
Starting off, CrowdStrike Holdings Inc. (CRWD) is a cybersecurity technology company. They provide cloud-based services for endpoint and cloud workload protection. CrowdStrike’s platform uses artificial intelligence to detect and prevent security breaches. The company serves a wide range of clients, from small businesses to large enterprises, across various industries.
Last month, CrowdStrike Holdings announced their new Falcon Complete Next-Gen MDR service. This offering enhances breach prevention across various attack surfaces. It combines CrowdStrike’s platform with AI for improved threat detection. The service covers endpoint, identity, and cloud security. CrowdStrike emphasizes its speed and precision in threat response. Falcon Complete Next-Gen MDR supports service partners in managing security operations. It aims to help handle large volumes of security data effectively.
Over the past 5 trading days, shares of CRWD stock have rebounded by 3.37%. Meanwhile, during Wednesday morning’s trading session, CrowdStrike stock is trading green, up 3.50% at $239.79 a share.
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Meta Platforms (META Stock)
Next, Meta Platforms Inc. (META), formerly known as Facebook, is a technology company focusing on social networking and virtual reality. They operate popular social media platforms including Facebook, Instagram, and WhatsApp. Meta is also heavily investing in developing metaverse technologies, aiming to create immersive digital experiences.
At the end of last month, Meta Platforms announced its second-quarter 2024 financial results. Getting right into it, the company reported earnings of $5.16 per share, along with revenue of $39.07 billion. This is compared to Wall Street’s consensus estimates of $4.70 per share, and revenue estimates of $38.19 billion. In addition, Meta reported a revenue increase of 22.10% versus the same period, the prior year.
Looking at the past five trading days, shares of META stock have pulled back by 4.32%. While, on Wednesday morning, Meta Platforms stock is trading modestly higher by 1.13%, at $499.66 a share.
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