Are These The Best Consumer Tech Stocks To Buy Ahead Of Next Month?
Like it or not, the consumer tech industry continues to make waves across the stock market today. As a result, many would consider consumer tech stocks viable plays in the current market. By and large, this appears to be the case as more tech firms continue to cater to consumer trends. Additionally, said firms are also constantly looking to improve their existing offerings. When you pair the current strength in consumer markets with the tech industry’s drive for growth, the appeal is apparent.
For instance, we could look at Verizon (NYSE: VZ). As of today, the company is now working with Amazon (NASDAQ: AMZN) to bolster its internet services towards rural regions in the U.S. Through Amazon’s Project Kuiper satellite network, the duo would be improving overall high-speed internet access to a wider array of consumers. At the same time, even the travel industry seems to be eyeing new frontiers when it comes to attracting consumers. Namely, Boeing (NYSE: BA) and former Amazon CEO space travel firm, Blue Origin, are now working to launch a commercial space station. Overall, even cutting-edge tech is being employed with the consumer in mind. With that said, check out these top players in the stock market now.
Best Consumer Tech Stocks To Buy [Or Sell] Today
- Netflix Inc. (NASDAQ: NFLX)
- Advanced Micro Devices (NASDAQ: AMD)
- Robinhood Markets Inc. (NASDAQ: HOOD)
- Apple Inc. (NASDAQ: AAPL)
- Microsoft Corporation (NASDAQ: MSFT)
Starting off, we have Netflix, a streaming services company that is leading the cord-cutting trends today. The company could eventually replace linear TV as streaming entertainment will allow on-demand, personalized and ad free content. The industry is also expanding rapidly because of ecosystem growth and rapid innovation, as millions of consumers have an appetite for content. It streams a wide variety of content across different genres and languages as well, appealing to the masses all over the world. NFLX stock currently trades at $666.93 as of 12:50 p.m. ET.
Last week, the company reported its third-quarter financials. Diving in, Netflix reported a revenue of $7.34 billion, an increase of 19.4% year-over-year. Net income for the quarter was $1.45 billion or a diluted earnings per share of $3.19.
Furthermore, it also saw its global streaming paid memberships grow by 9.4% year-over-year to over 213 million, with 4.38 million paid net additions. The company has also seen huge success in its latest series Squid Game, where a mind-boggling 142 million members have chosen to watch the title in its first four weeks. Given the commendable quarter, should investors be adding NFLX stock to their portfolios?
Advanced Micro Devices Inc.
Advanced Micro Devices (AMD) is a consumer tech company that develops computer processors for the consumer and business markets. Hundreds of millions of consumers, businesses, and research facilities around the world rely on the company’s products and services. The company will be reporting its third-quarter financials today after the market closes. AMD stock currently trades at $123.19 as of 12:50 p.m. ET and is up by over 50% in the past year alone.
The company announced last week that its Ryzen Threadripper PRO Processors have been selected for next-generation Nvidia (NASDAQ: NVDA) GeForce NOW Cloud Gaming platform. Chris Kilburn, corporate vice president and general manager, client component business had this to say, “Working with NVIDIA, it is clear that the expansive feature set of Ryzen Threadripper PRO is the perfect platform to power their next-generation cloud gaming experience.” With this exciting piece of news, is AMD stock worth buying right now?
Robinhood Markets Inc.
Following that, we have Robinhood Markets. The company has a trading platform that appeals to millions of users all over the world. In fact, the company has spurred retail traders to pick up investing with its lucrative commission free trades of stocks. With over 21 million monthly active users and with over $102 billion in assets under custody, the company is certainly a growing force in the consumer tech space. HOOD stock currently trades at $39.21 a piece as of 12:50 p.m. ET.
The company will also be announcing its third-quarter financials today after the market closes. In light of that, let us take a look at its previous quarter financials that was reported in August. Firstly, Robinhood reported a total net revenue of $565 million, increasing by 131% compared to a year earlier.
Notably, transaction based revenue increased by 141% to $451 million. The company also says that it now offers customers access to IPOs, at the same price as institutional and high net worth investors. It also offers best in class customer service and has hired hundreds of additional licensed customer service representatives to deal with its users. For these reasons, is HOOD stock a top consumer tech stock to buy?
When it comes to discussing consumer tech stocks, Apple would be a go-to for many today. After all, the company boasts an industry-leading portfolio of consumer hardware and software today. From its immensely popular iPhones to its array of complementary tech offerings, this is evident.
In fact, Apple’s latest wireless earbuds, the third-generation AirPods, are set to hit store shelves today. To point out, the company’s Wearables division raked in a revenue of $8.7 billion in its June quarter. Arguably, the move would serve to benefit Apple ahead of the upcoming holiday season.
Now, AAPL stock currently trades at $149.21 as of 12:51 p.m. ET. With the company set to report its latest fiscal quarter results after Thursday’s closing bell, AAPL stock could be in focus now. If anything, analysts are already sizing up the company now. Over the weekend, Needham analyst Laura Martin provided a positive update on AAPL stock. Martin hit it with a Buy rating and a price target of $170, suggesting a possible upside of 13% from its current price point. Could all this make AAPL stock worth investing in for you?
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Another name to consider among the top consumer tech stocks today would be Microsoft. For the most part, this would be thanks to its massive presence throughout the tech industry now. As it stands, MSFT stock is trading at $310.23 as of 12:51 p.m. ET. With the company set to report its quarterly earnings after today’s market close, I could see investors watching it closely.
Overall, the real question now is, what is in-store for Microsoft today. Well, according to consensus estimates, the company could be looking at an earnings per share of $2.08 on revenue of $43.9 billion. This would mark sizable year-over-year gains of 14% and 18% respectively.
Moreover, the company’s booming cloud division, Microsoft Azure, would also be in the limelight today. This would be the case as more businesses turn to Microsoft for their digital acceleration needs. Given Microsoft’s 10-quarter streak of exceeding analyst estimates, would you consider MSFT stock a buy now?