Are These The Top Web 3.0 Stocks To Buy Now?
As the stock market continues to show a lack of direction, investors are taking the opportunity to explore newer themes in the stock market. Consequently, Web 3.0 stocks are emerging as a popular choice among investors. But before that, what is Web 3.0? Taking a step back, the web which we are familiar with right now is representative of Web 2.0. Meanwhile, Web 3.0 is the next phase defined by features such as decentralization, artificial intelligence, machine learning, and ultimate connectivity. Therefore, users will have greater access to information at all times.
Leading blockchain companies such as Coinbase (NASDAQ: COIN) have risen by over 20% in the past two weeks. After all, the most significant trait of blockchain is decentralization and this is an ideal foundation for Web 3.0. This rally also follows alongside other trends like Bitcoin, which has also risen to near $47,000, almost erasing year-to-date losses.
Elsewhere, Block (NYSE: SQ) has also enjoyed gains of over 8% in the last month. It recently announced a partnership with CodeBase to boost entrepreneurship in Scotland. The company’s payment system Square will provide entrepreneurs with access to Square’s payment ecosystem and APIs. All things considered, it should not be surprising that top Web 3.0 stocks are on the radars of investors. So, here are some of the top names in the stock market today.
Web 3.0 Stocks To Watch In April 2022
- Apple Inc (NASDAQ: AAPL)
- Microsoft Corporation (NASDAQ: MSFT)
- Advanced Micro Devices, Inc. (NASDAQ: AMD)
Apple is among the frontrunners making a huge impact in the Web 3.0 era. The company specializes in the design and manufacture of various technological products. This includes smartphones, personal computers, tablets, and other wearables. These devices run on the company’s very own iOS and macOS operating systems. Aside from that, Apple also provides services such as Advertising, AppleCare, Cloud Services, Digital Content as well as Payment Services. As such, it should not be surprising that many see Apple as a top Web 3.0 stock.
Recently, there have been reports from Bloomberg that Apple is developing its own payment processing technology and infrastructure. This would be part of the company’s ambitious effort to reduce reliance on outside partners for future financial products. Not to mention, Apple could be a bigger force to be reckoned with in the financial services industry. However, the people who revealed these plans asked not to be identified as the plans are not public yet.
What’s more, some reports claim that Apple could offer the iPhone through a new subscription plan. It appears that people could pay monthly for their devices instead of buying one. So, customers can pay on an ongoing monthly basis for access and potentially have an upgrade option when new products become available. That said, there are still uncertainties about the ownership of the device long-term. Given these exciting developments, could AAPL stock be a top Web 3.0 stock to watch?
Another prominent name to note right now would be Microsoft. The tech giant develops and supports a range of software products, services, devices, and solutions. Similar to Apple’s macOS and iOS, Microsoft has its own operating system, Microsoft Windows. It provides a way to store files, run software, play games, watch videos and the list goes on. Basically, the heartbeat of most personal computers on the market today. Impressively, MSFT stock has risen more than 30% over the past year.
Earlier this month, Microsoft announced exciting developments in cloud technologies for healthcare and life sciences. There will be the general availability of Azure Health Data Services and updates to Microsoft Cloud for Healthcare. These solutions are meant to reduce clinician burnout while delivering a more personalized experience for patients. The past two years are prime examples that expose the limits of health care systems using conventional means. Thus, Microsoft believes that data and AI hold the key to a new world of health and discovery for the future of the health care system.
On top of that, the company and Rogers (NYSE: RCI) also announced a five-year strategic alliance to help enterprise and business customers accelerate digitization. Also, the collaboration hopes to take full advantage of hybrid work and 5G-enabled solutions. Rogers will leverage Microsoft Azure’s strategic cloud infrastructure to power innovation and unlock new customer experiences. With all said and done, Microsoft has a wide portfolio that could easily transition towards a Web 3.0 future. So, should you be keeping a close eye on MSFT stock?
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Advanced Micro Devices
Following that, Advanced Micro Devices, or AMD for short, is another Web 3.0 player to consider in the stock market today. Through its cutting-edge semiconductor chips, the company powers some of the leading tech in the world today. From AI, cloud data centers, and high-performance computing to gaming and personal use devices, this is apparent. Additionally, another key area that AMD is focusing on now would be the blockchain. Seeing as Web 3.0 is primarily built on blockchain tech, AMD stock would be a name to note in the space now.
In detail, AMD’s chips would be crucial in supporting the compute platforms, PCs, and servers that make up the blockchain. As greater adoption of Web 3.0 takes place, demand for the company’s offerings could follow suit. As it stands, AMD states that it is currently working with existing ecosystem partners to expand its blockchain compute solutions toward a wider array of applications. This would go to show that AMD is constantly updating its portfolio, adapting to the latest trends in tech.
Accordingly, the company recently expanded the availability of its AMD Instinct ecosystem. In essence, this would be in reference to the company’s AMD Instinct accelerators. The likes of which are used to supercharge AI workloads in the data center. Through its latest expansions, the AMD Instinct ecosystem now boasts system support from partners such as Dell (NYSE: DELL) and Lenovo (OTCMKTS: LNVGY). After considering all this, will you be keeping an eye on AMD stock?