Over the last few decades, technology has been a driving force behind much of the world’s economic growth. The technology industry is always changing, with new innovations and technologies appearing on a regular basis. For investors looking to invest in technology stocks, the rapid pace of change presents both opportunities and challenges.
Investing in technology stocks can be a wise move for investors looking to capitalize on the sector’s potential growth. However, it’s important to understand that tech stocks can be volatile and subject to large price swings, as evidenced by the sector’s recent growth and correction. Furthermore, technology firms may be vulnerable to disruption from emerging technologies, and regulatory risks may also have an impact on the sector.
To be successful in investing in technology stocks, it is critical to conduct extensive research and due diligence on individual companies as well as the sector as a whole. Before making any investment decisions, investors should consider a company’s financial health, management team, competitive landscape, and growth potential. It is also critical to maintaining a diverse portfolio in order to mitigate risk and prepare for potential market downturns. If this has you keen on investing in the tech sector, here are three for your mid-February 2023 stock market watchlist.
Tech Stocks To Watch Right Now
- Meta Platforms Inc. (NASDAQ: META)
- Alphabet Inc. (NASDAQ: GOOGL)
- Alibaba Group Holdings (NYSE: BABA)
Meta Platforms (META Stock)
To begin, Meta Platforms Inc. (META), formerly known as Facebook, is a social media giant that operates various platforms, including Facebook, Instagram, and WhatsApp. The company generates revenue through digital advertising and has been investing in virtual reality and augmented reality technologies.
At the beginning of this month, Meta reported its 4th quarter 2022 financial results. Diving in, the company reported earnings per share of $3.00, with revenue of $32.2 billion. For context, this is versus analysts’ consensus estimates for the quarter which were earnings of $2.12 per share, and revenue estimates of $31.8 billion. What’s more, Meta said it estimates first-quarter 2023 revenue in the range of $26.0 billion to $28.50 billion.
Since the start of 2023, shares of META stock have surged by 37.69% year-to-date. Meanwhile, during Thursday morning’s trading session, META stock is trading at 0.36% on the day by $171.74 per share.
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Alphabet (GOOGL Stock)
Alphabet Inc. (GOOGL) is a technology conglomerate that operates various subsidiaries, including Google, YouTube, and Waymo. Google is a dominant player in the search engine and online advertising markets, while Waymo is an autonomous driving technology company.
In February, Alphabet reported its fourth-quarter 2022 financial results. In detail, the company announced 4th quarter 2022 earnings of $1.05 per share and revenue of $76 billion. Though this came in below consensus estimates for the quarter, which was earnings of $1.14 per share with revenue estimates of $76.6 billion.
Year-to-date, shares of GOOGL stock have increased by 2.02% so far. While, on Thursday, Alphabet stock is trading modestly lower on the day by 0.79% at $90.93 a share.
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Alibaba (BABA Stock)
Alibaba Group Holdings (BABA) is a Chinese e-commerce company that operates online marketplaces such as Alibaba.com and Taobao.com. The company generates revenue through commissions and advertising and has expanded into cloud computing, digital media, and financial technology services.
Today, Thursday, Alibaba reported better than expected 3rd Quarter December 2022 financial results. In detail, the company reported earnings of $2.79 per share along with revenue of $35.9 billion. For context, Wall Street’s consensus estimates for the quarter were earnings of $2.28 per share, with revenue estimates of $35.5 billion.
In 2023 so far, BABA stock has increased by 4.41% year-to-date. During Thursday’s mid-morning trading session, shares of BABA stock jumped off the open by 1.26% at $95.97 a share.
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