Do You Have These Top Tech Stocks On Your List Right Now?
As the tech industry continues to grow, tech stocks continue to attract the attention of investors in the stock market. Be it enterprise software services, fintech, or even video streaming, the world’s reliance on technology has been growing. And this is not just because of the pandemic. After all, we can all appreciate the ever-evolving and improving nature of the industry. Unless you have been living under a rock, you would know that social media giant Facebook is now known as Meta Platforms (NASDAQ: FB). That shows its clear intent in diving into the metaverse, an area many believe to be the next big thing in tech.
Elsewhere, corporate spending on enterprise tech remains strong. For instance, cloud computing solutions could lower costs, speed up operations, and give businesses more flexibility. Separately, services such as Zoom Video Communications (NASDAQ: ZM) have become essential to companies as working from home becomes commonplace. With no shortage of innovation in this space, it is no surprise why many are optimistic about tech stocks. With that in mind, let’s look at some of the top tech stocks in the stock market today.
Best Tech Stocks To Buy [Or Sell] Right Now
- Microsoft Corporation (NASDAQ: MSFT)
- Netflix Inc (NASDAQ: NFLX)
- IonQ Inc (NYSE: IONQ)
- Accenture Plc (NYSE: ACN)
Microsoft
Let us start the list by looking at the tech giant Microsoft. In detail, the company develops and supports a range of software products, services, and solutions. Some of its notable products include operating systems, server applications, software development tools, and video games. MSFT stock has been on a roll this year, climbing more than 55% since the start of the year.
Well, Microsoft certainly isn’t resting on its laurels. Last week, we saw the company and IT infrastructure services provider Kyndryl (NYSE: KD) announce a landmark global partnership. This collaboration will combine their market-leading capabilities in the service of enterprise customers. It also means that Microsoft will become Kyndryl’s only Premier Global Alliance Partner, increasing the company’s access to the $500 billion managed services market where Kyndryl leads.
On top of that, the company also signed a 15-year agreement with energy company AES Corporation (NYSE: AES) earlier this month. The agreement will allow Microsoft to power its data centers in Virginia with around-the-clock renewable energy. So, it will further strengthen its commitment to using 100% renewable energy by 2025, and take a meaningful step toward having 100% of its electricity matched by zero-carbon resources. Given all these, do you believe there will be more room to run for MSFT stock?
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Netflix
Another prominent in the tech space right now would be Netflix. By now, most people would be aware of what the company has to offer. The streaming giant has paid streaming memberships in over 190 countries with a growing viewer base. In fact, its members could watch their favorite shows at any time and any given place without commercials.
Despite trading sideways for most parts of the year, NFLX stock has picked up its pace over the past few months. Well, its series of exciting developments during the period was likely an important factor. For instance, it finally launched its first mobile games around the world. These will be available as a free add-on to the normal subscription, and there will be no additional fees and no in-app purchases within them.
As some of you may have noticed, the company’s South Korean sensation “Squid Game” has been a huge hit with over 1.65 billion hours of streaming in the first four weeks of release. In light of this, the company was able to post a strong quarterly result that shattered most analysts’ expectations. Its earnings per share for the third quarter was $3.19, beating Wall Street’s consensus estimates of $2.56. And most importantly, its new subscribers continue to grow by 4.4 million, smashing the projections of 3.84 million. All things considered, could NFLX stock still be a buy for you?
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IonQ
IonQ is a quantum computing company that engages in quantum computing and develops general-purpose quantum computing systems. In detail, it primarily focuses on developing quantum computers to solve problems and transform business. Also, users can access its quantum computers via Amazon Braket, Microsoft Azure, and Google Cloud.
IONQ stock has been skyrocketing over the past month, rising more than 180% within the period. The stock carried on its momentum after the company reported its third-quarter earnings on Tuesday. Impressively, its year-to-date total contract value bookings were $15.1 million. This demonstrates IonQ’s leadership and growing demand for its industry-leading trapped-ion hardware.
It is also noteworthy that the publication by the Quantum Economic Development Consortium (QED-C) shows that IonQ’s latest computers are among the best in business. IonQ’s computers outpaced the entries from International Business Machines (NYSE: IBM), Honeywell (NASDAQ: HON), and Rigetti. With such exciting developments, would you be watching IONQ stock?
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Accenture
Lastly, we will be looking at Accenture. For those unaware, the company is a professional services company that provides management and technology consulting services. In addition, it also offers digital advertising services and a comprehensive offering across content creation, production, and distribution. Currently riding on strong momentum and trading near its all-time high, let us see what has been the driving force for the company.
For starters, the company has been selected by pharmaceutical company Organon (NYSE: OGN) to establish and manage the transformation of the company’s enterprise resource planning technology. By becoming a cloud-based digital core, it will improve patient and employee experiences. What’s more, Organon will be able to use real-time analytics to respond more rapidly to patients, customers, and employees.
Not to mention, Accenture has also recently acquired Founders Intelligence. This is an innovation strategy consulting firm that helps large corporations to create growth. It normally does so by using tools, techniques, and insights from technology entrepreneurs and investors. All in all, the company appears to be firing on all cylinders with room to grow still. Therefore, would you consider buying ACN stock?
