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Best Stocks To Buy In February? 4 Trending Tech Stocks To Know

Will tech stocks continue to prosper as the world continues to adopt tech?

best stocks to buy (Tech stocks)

4 Top Tech Stocks To Watch This Month

Tech stocks are still on many investors’ portfolios these days. Evidently, we see that the stock market’s overall performance across the last year was shaped by tech stocks. When businesses shifted online, tech companies prospered. When the masses stayed at home, tech stocks witnessed huge growth in demand for their products and services. You only need to look at tech companies like Trade Desk (NASDAQ: TTD) to see how successful the industry has become. Its shares have been up by almost 400% since the March lows last year. Another tech company that has seen gains of over 40% year-to-date is Appian (NASDAQ: APPN).

Despite tech shares lagging and the Nasdaq Composite falling by 1.5% as of Thursday morning, its worst session in February so far, there is still much potential for the industry. You have to remember that the tech-heavy index breached to a new all-time high again this month. This shows how top tech stocks are continuing to enjoy unprecedented gains. Today, you see companies like Amazon (NASDAQ: AMZN) dominating the scene, covering e-commerce and streaming services with its Amazon Prime subscription. It also has a stake in blockchain technology through its Amazon Managed Blockchain solutions, which will allow clients to create and manage their own blockchain networks. You would not have thought of Amazon as a streaming service back when it first started. With the endless possibilities for the tech industry, are these tech stocks worth adding to your portfolio?

Best Tech Stocks To Buy [Or Avoid] Now

QuantumScape Corp

QuantumScape or QS has garnered a lot of attention recently. The tech company develops next-generation solid-state batteries for electric vehicles (EV). Its groundbreaking technology is changing the way EVs store energy and have strong backing from automotive titans like Volkswagen (OTCMKTS: VWAGY). The company is also backed by Microsoft (NASDAQ: MSFT) co-founder Bill Gates.

It is also currently the only player to have shown a solid-state lithium-metal single-layer building block that is capable of meeting the key requirements of long cycle life that are expected from a battery. The company’s share price has gone up by over 18% since Tuesday. This surge seems to have come after the company provided an update on its development efforts for its batteries.

QS reported that it has hit another testing milestone with its solid-state battery cell prototypes. After successfully testing its single-layer cells in December that provided good results, it has now shifted its focus to multiple-layer cells, which are closer to actual application. QS also found that its battery prototype can retain over 90% of its energy storage capacity after 800 charge-discharge cycles. The company has about $1 billion in cash on hand from the merger that took it public last year and expects to receive another $100 million from Volkswagen by the end of the first quarter. With enough cash to see it through the start of production for its game-changing battery, will you consider buying QS stock?

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QuickLogic Corporation

Next on this list is QuickLogic. QuickLogic is a fabless semiconductor company that develops low-power, multi-core microcontrollers (MCU) and field-programmable gate array (FPGA). The company also develops endpoint AI solutions, voice, and sensor processing technologies. The company’s shares have spiked by over 50% in premarket trading today on news that it has released an Amazon-qualified reference design that brings Alexa to hearables.

The kit will allow OEMs and ODMs to evaluate and develop their own smart hearable products quickly and easily. It will also integrate the Alexa voice-initiated Close-Talk experience, which will enable a broad set of battery-powered applications to communicate directly with Alexa for a multitude of use cases. The company has also accelerated progress in transforming its business from primarily a product company to a platform company.

QuickLogic also recently introduced a new, zero-cost version of the SensiML Analytics Toolkit called ‘Community Edition’ for the rapid creation of prototypes. With so many interesting developments surrounding the company, will you consider adding QUIK stock to your portfolio?

[Read More] Looking For The Best Stocks To Buy Now? 4 E-Commerce Stocks To Consider

Roku Inc.

Roku is a tech company that pioneered the streaming industry to the TV. The first Roku model was developed in collaboration with Netflix (NASDAQ: NFLX) way back in 2008. You could say that Roku devices have been considered influential on the digital media player market.

This is because it helped popularize the concept of low-cost media consumption. The company will report its fourth-quarter financials today. ROKU stock has been trading at $452.99 as of Thursday’s close and is up by over 35% year-to-date.

In the company’s third-quarter fiscal posted in November, it reported total net revenue of $452 million, a 73% increase year-over-year. A huge chunk of this revenue came from its platform segment, at $319 million. Gross profit for the quarter was $215 million and Roku also added 2.9 million incremental active accounts for the quarter to a whopping 46 million. Will the company be able to replicate this success in today’s earnings report? All things considered, is ROKU stock a top tech stock to buy?

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Micron Technology Inc.

Micron is a world leader in innovating memory and storage solutions that accelerate the transformation of information. It has a broad portfolio of technologies that are at the core of today’s most disruptive fields such as artificial intelligence and autonomous vehicles. Its memory technology is also used in various applications such as 5G, automotive, mobile, and networking. The company’s stock price is currently trading at $88.53 at the close of Thursday’s trading session.

In its first-quarter fiscal results posted in January, the company delivered strong revenue and earnings for the quarter. It reported a revenue of $5.8 billion, which is up by 12% year-over-year. 70% of this revenue came from its DRAM segment. It also noted strong growth for its graphics and mobile segment.

Micron also reported an income of $897 million or diluted earnings per share of $0.78. With strong fundamentals and solid financials, it expects a top-line revenue of $6 billion for its next quarter revenue. With that in mind, will you buy MU stock?

By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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