Check Out These Top Tech Stocks In The Stock Market Now

When it comes to stocks, there is no one-size-fits-all answer. The best stocks to invest in right now vary depending on the investor’s goals and risk tolerance. However, there are a few factors that can help to make a stock a good investment. First, the company should have strong financials and be well-positioned for growth. Second, the stock should be priced attractively relative to its sector peers. Finally, the company should have a solid management team with a clear strategy for success. By taking these factors into account, investors can identify stocks that offer the best potential chance for long-term success.

Technology stocks have long been a popular investment, thanks to the stunning growth of companies like Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Google (NASDAQ: GOOGL). But what are technology stocks, and why do they tend to outperform the broader market?

Technology stocks are shares of companies that are involved in developing or using technology. This can include everything from software and semiconductors to internet services and energy-efficient materials. Because technology is always evolving, these companies often enjoy strong growth rates. And as more businesses and consumers adopt new technologies, there is typically a corresponding increase in demand for technology stocks. While technology stocks can be volatile, they have historically outperformed the broader market over the long term. So for investors looking for growth, they can be an attractive option. With that, here are three tech stocks to watch in the stock market today.

Best Tech Stocks To Invest In [Or Avoid] Right Now

Fastly, Inc. (FSLY Stock)

To start us off, let’s have a look at Fastly, Inc. (FSLY). Fastly is a real-time content delivery network (CDN) company. It provides services in the verticals of delivery, security, streaming media, e-commerce, and private CDN. Next, its platform helps reduce the lag time and latency of decentralization and can move a large amount of data across numerous countries. Share of FSLY stock closed Wednesday’s trading session up 7% at $13.21. The rally comes in anticipation of the company reporting its second-quarter 2022 financial results.

In the report, Fastly reported record quarterly revenue, while notching in a net retention rate of 117%. Next, the company posted a loss of $0.23 per share on revenue of $102.5 million. Compared with the consensus estimate of a loss of $0.17 per share on revenue of $101.0 million. “We are pleased to continue our revenue momentum into 2022, exceeding the top end of our guidance range and representing another record revenue quarter, further demonstrating Fastly’s value with our existing and new customers,” said Joshua Bixby, CEO of Fastly. Given all of this, will you be watching FSLY stock now?

FSLY stock
Source: TD Ameritrade TOS

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Advanced Micro Devices Inc. (AMD Stock)

Following that, we have semiconductor stock Advanced Microdevices (AMD). In detail, its segments include Computing and Graphics, Enterprise, Embedded, and Semi-Custom. Today, AMD offers the industry’s widest portfolio of leadership high-performance and adaptive processor technologies. The company combines CPUs, GPUs, FPGAs, Adaptive SoCs, and deep software expertise to drive leadership computing platforms for cloud, edge, and other end devices. As a result, AMD stock is often mentioned among the top tech stocks in the stock market today. 

Continuing on, just this week AMD reported its second quarter 2022 financial results. In detail, the company reported a record quarterly revenue of $6.6 billion. This reflects an increase of 70% year-over-year. On top of that, they recorded a record quarter for operating cash flow, which exceeds $1 billion. Aside from that, advanced micro devices posted earnings per share of $1.05, versus consensus estimates of $1.03.

We delivered our eighth straight quarter of record revenue based on our strong execution and expanded product portfolio,” commented AMD CEO Dr. Lisa Su. “Each of our segments grew significantly year-over-year, led by higher sales of our data center and embedded products. We see continued growth in the back half of the year highlighted by our next generation 5nm product shipments and supported by our diversified business model.” As of Wednesday’s close shares of AMD are trading at $98.09 a share.

AMD stock
Source: TD Ameritrade TOS

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eBay, Inc. (EBAY Stock)

Last but not least, let’s dive into eBay, Inc. (EBAY). Through its Marketplace platforms, buyers and sellers could connect in more than 190 markets around the globe. Its technology enables its customers and provides everyone with an opportunity to grow and thrive. As a result, EBAY stock has investors turning their attention to it in the stock market today. Shares of EBAY stock closed Wednesday’s trading day up over 4% at $50.48 per share. This is on the heels of the company reporting its second-quarter 2022 financial results on Wednesday afternoon.

In detail, the company reported a Q2 earnings beat and sustained its quarterly dividend at $0.22 per share. Additionally, EBAY reported earnings per share of $0.99 for the quarter. Versus wall street’s estimates of $0.89 per share on revenue of 2.4 billion. As a result, shares of EBAY stock are pushing higher in Wednesday’s extended trading hours. With the company’s strong track record, and recent earnings beat, is EBAY on your watchlist right now?

EBAY stock
Source: TD Ameritrade TOS

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