tech stocks to buy

Are These The Best Tech Stocks To Buy Before Friday?

Investors looking to invest in tech stocks should be rejoicing. This is after a few consecutive down days. Due to the pandemic, the stock market has experienced some wild swings over the past few months. Just recently, Tesla (TSLA Stock Report) announced a 5-for-1 stock split, which sent TSLA stock soaring higher. This announcement came not long after Apple (AAPL Stock Report) 4-for-1 stock split. These heavyweight stocks, especially Apple, dragged Nasdaq Composite higher. Many investors have seen the shift made by companies to remote work. And schools opted for online learning. This in effect has led investors looking for top tech stocks that are benefiting from this monumental change.

First of all, we have to understand that not all tech companies are created equal. Thus it’s natural that they do not benefit the same way. If you are new to investing, the technology industry could be the best starting place for investors seeking explosive returns. Now that most mega stocks have reported strong earnings, the Nasdaq Composite has also reached its all-time highs. The question here is though, would it still be worth buying now in light of the recent pullbacks in certain tech stocks? Will the pull backs be temporary? Or would investors’ attention be shifting to the neglected sectors for now?

Despite the economic uncertainty caused by the coronavirus pandemic, this doesn’t mean investors should avoid investing at all costs. Yes, certain cyclical stocks are showing some bullish signs with tech stocks appearing to be taking the back seat. Does that mean tech stocks have lost the edge in the stock market today? Yes, I get that tech stocks are rebounding very strongly. However, with enough research, surely there are tech stocks that are worth investing in, even during the current recession. That said, are these 2 the best tech stocks to buy right now?

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Top Tech Stocks To Buy Right Now [Or Avoid]: Shopify Inc

The coronavirus pandemic has accelerated the shifts to e-commerce, and Shopify (SHOP Stock Report) has benefited immensely. The company is in a good position to help many companies to move their operations online, in addition to their physical stores, in order to stay in business. For investors who are worried that a contraction would happen when the pandemic happens, I don’t see this phenomenon having any major impact. Of course, the remarkable growth from the latest quarter is not sustainable. But from how I see it, I think there’s a great chance for merchants who create an online shop are likely going to maintain their online presence even after pandemic has run its course. 

best tech stocks to buy (SHOP stock)

Shopify is growing rapidly, and it became the largest stock in the Canadian Stock Exchange. From its latest quarter, the company reported a 97% increase in revenue year-over-year. More importantly, the revenue growth was significant enough to bring the company into a positive net income territory. The acceleration in digital shops has sent SHOP stocks soaring more than 140% year to date.

Now that the company has made a name for itself, the marketing expenses could be lower as more business owners are desperately in need for their services. With the coronavirus pandemic showing no end in sight, Shopify’s service remains in high demand.

[Read More] Apple & Tesla Announced Stock Splits; Here’s How It Could Impact Your Investments

Top Tech Stocks To Buy Right Now [Or Avoid]: PTC

Industrial software company, PTC (PTC Stock Report) is one of the best under-the-radar tech stocks in the market. For those who are new to the company, let’s first understand what the company offers. The company specializes in traditional computer aided design (CAD) and product life cycle management (PLM) as its core offerings. But that’s not the main profit driver for the company, at least not during the pandemic. Instead, the company’s internet of things (IoT) and augmented reality (AR) products are its growth offerings, especially so during the pandemic. Don’t get me wrong though, that doesn’t mean the core product offerings are inferior or insignificant. It’s just that the core product offerings are not exactly in rising demand at a time when companies are cutting their budgets and expenses during the pandemic.

No matter how you slice it, PTC is not spared from the pandemic. Thankfully, the decline in core product offerings are being offset by their IoT and AR offerings. The importance of connecting physical assets with the digital world is becoming more pronounced than ever. For example, a factory would like to maximize their operational efficiency. Through the use of IoT and advanced analytics, companies can optimize energy efficiency. This hence enables the company to save significant costs.

Not only that, according to PTC’s CEO Jim Heppelmann, medical companies had expanded “their smart, connected product deployments, enabling them to remotely monitor and service their product fleet seamlessly despite the operational challenges caused by the pandemic.” The heightened awareness on how to digitize their operations are putting PTC stock onto investors’ radar.

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