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Best Stocks To Buy Now? 3 Tech Stocks To Watch This Week

Tech stocks to watch this week.

The technology sector has emerged as one of the fastest-growing industries in the world, with technological advancements transforming every aspect of our lives. The sector includes companies that create and sell products and services related to software, hardware, electronics, internet, telecommunications, and other tech-related products. The tech industry is highly competitive, and companies are under constant pressure to innovate and remain relevant in a rapidly evolving market.

Investing in tech stocks can be a lucrative but risky venture, with high growth potential and volatility. Tech stocks are known for their high valuations, with many companies trading at high price-to-earnings ratios due to their potential for future growth.

The performance of tech stocks is closely tied to the overall health of the economy and technological advancements, with factors such as consumer demand, innovation, and regulatory changes impacting stock prices. As a result, it’s essential for investors to conduct thorough research and due diligence before investing in tech stocks. That being noted, here are three tech stocks to watch in the stock market this week.

Tech Stocks To Buy [Or Sell] In 2023

QUALCOMM (QCOM Stock)

To start, Qualcomm (QCOM) is a technology company that designs and produces mobile devices, semiconductors, and wireless telecommunications equipment. The company’s products are used by businesses and consumers worldwide.

Earlier this month, Qualcomm reported its most recent quarterly cash dividend. In detail, the company declared a quarterly cash dividend of $0.80 per common share. This dividend is payable on June 22, 2023, to shareholders of record on June 1, 2023. Currently, Qualcomm offers an annual dividend yield of 2.72%.

Year-to-date, shares of QCOM stock have advanced by 9.85%. While, as of this past Friday’s closing bell, Qualcomm stock closed the day at $117.76 a share.

Source: TD Ameritrade TOS

[Read More] 3 Cyclical Stocks For Your April 2023 Watchlist

PayPal Holdings (PYPL Stock)

Next, PayPal Holdings, Inc. (PYPL) is a digital payments company that operates a platform for online payments and money transfers. The company enables customers to make payments and transfer money globally through its website and mobile app.

Moving along, back in February, PayPal Holdings released its fourth quarter 2022 financial results. In detail, PayPal reported Q4 2022 earnings of $1.23 per share, along with revenue of $7.4 billion. This came in higher than analysts’ consensus estimates which were earnings of $1.20 per share, with revenue estimates of $7.4 billion. What’s more, revenue increased by 6.7% versus the same period, the previous year.

Since the start of 2023, shares of PYPL stock have dropped modestly by 0.54% year-to-date. Meanwhile, as of this past Friday’s closing bell, PayPal stock is trading at $74.18 a share.

[Read More] Top Stocks To Buy Now? 2 Undervalued Stocks To Watch

Adobe Inc. (ADBE Stock)

Last but not least, Adobe Inc. (ADBE) is a software company that offers a range of creative and marketing software products. The company’s products include Photoshop, Illustrator, InDesign, and Acrobat, as well as marketing automation software such as Marketo and Magento.

Last month, Adobe and NVIDIA announced a new partnership to leverage the power of generative AI to advance creative workflows. The two companies will collaborate to develop a new generation of advanced generative AI models, with a particular emphasis on integrating these models into applications that are commonly used by top creators and marketers around the world. This collaboration has the potential to transform the way content is created, managed, and shared, and could pave the way for new and innovative approaches to creative work in a variety of industries.

In 2023 so far, shares of Adobe stock have increased by 12.09% YTD. Meanwhile, as of this past Friday’s closing bell, shares of ADBE stock are trading at $377.67 a share.

Source: TD Ameritrade TOS

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By Josh Dylan

Josh Dylan is an active contributor to StockMarket.com. His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like MarijuanaStocks.com, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the StockMarket.com social media team. He works to delivery top research not only one StockMarket.com but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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