Are These Good Tech Stocks To Invest In Now?
Tech stocks appear to be a key focus of investors in the latest stock market hot streak. This is apparent as the tech-heavy Nasdaq index has mostly recovered from the Omicron variant-related sell-offs over the Thanksgiving weekend. Overall, investors appear to be optimistically buying into risk assets as markets continue to run. Accordingly, this seems to stem from more positive updates regarding the Omicron Covid variant. Earlier today, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) noted that three doses of their vaccine “neutralize” the new variant. As such, we could be seeing renewed investor interest in some of the most active stocks in the stock market today.
Notably, this is where high-growth tech stocks come into play. Like it or not, the world today relies on the tech industry heavily.Take Visa (NYSE: V) and PagerDuty (NYSE: PD) for example. On one hand, Visa is officially launching crypto consulting services in a push beyond card payments. On the other hand, PagerDuty reported narrower-than-expected losses while providing better-than-expected revenue guidance for the current quarter. Just in, streaming company Roku (NASDAQ: ROKU) has reached a multi-year agreement with Google (NASDAQ: GOOGL) to keep YouTube and YouTube TV on its streaming platform. The tech stock is now up by over 11% on today’s opening bell. With that said, could one of these tech stocks be worth knowing now?
Top Tech Stocks To Buy [Or Sell] This Week
- Microsoft Corporation (NASDAQ: MSFT)
- Nvidia Corporation (NASDAQ: NVDA)
- Palantir Technologies Inc. (NYSE: PLTR)
- Upstart Holdings Inc. (NASDAQ: UPST)
Microsoft Corporation
Microsoft Corporation is a multinational tech company whose products and services are used by billions all over the world. For instance, it is best known for its productivity software, Office 365. Recently, it was reported that prices for Office are going up by 20% for some business clients unless they move from monthly to annual subscriptions. By doing so, the company could potentially have better visibility on its revenue and customer churn. These would be important elements for a subscription business that Microsoft has.
Next year, Microsoft is rolling out its New Commerce Experience (NCE) for Office, revamping the way customers buy its software through business partners. This will include new subscription term options and new monthly offers for businesses. Microsoft also recently announced a quarterly dividend of $0.62 per share and will be payable on March 10, 2022.
On the AI front, it announced that its OpenAI service combines access to powerful GPT-3 language models with Azure’s enterprise capabilities. It will also offer new tools to help ensure outputs that the model returns are appropriate for their businesses. Given this piece of news, is MSFT stock worth investing in right now?
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Nvidia Corporation
Next, we have Nvidia Corporation. It is a GPU company that specializes in products and platforms for the growing markets of gaming, professional visualization, and data center. Last month, Nvidia CEO Jensen Huang outlined the company’s vision for accelerated computing and the Omniverse, Nvidia’s own take on the metaverse. During the keynote at the company’s virtual GTC gathering, he also unveiled Nvidia Omniverse Avatar and Omniverse Replicator.
“A constant theme you’ll see — how Omniverse is used to simulate digital twins of warehouses, plants and factories, of physical and biological systems, the 5G edge, robots, self-driving cars, and even avatars,” Huang said. The company also mentioned how machine learning and accelerated computing are giving engineers ways to design better semiconductors faster. This is according to research detailed in a keynote by Nvidia’s chief scientist, Bill Dally.
He said that we can achieve orders-of-magnitude improvements in chip design using GPU-accelerated systems. Add AI into the mix, and you get superhuman results, with better circuits than anyone could design by hand. Given the company’s prospects, is NVDA stock a top tech stock to buy?
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Palantir Technologies.
Palantir Technologies is a tech company that builds software for organizations to effectively integrate their data, decisions, and operations. Notably, its Foundry platform is an operating system for modern enterprises. The company says that Foundry enables its users to build and deploy quality applications on their entire enterprise. It allows business leaders to continuously define the criteria they want to optimize, such as production, profitability, or cost savings. They can then run simulations on Foundry to determine what changes are best to achieve that state.
Last week, the company announced a multi-year partnership to deploy Foundry in Kinder Morgan’s (NYSE: KMI) storage operations to drive efficiency and safety. Kinder Morgan is one of the largest energy infrastructure companies in North America.
In detail, Foundry will optimize Kinder Morgan’s U.S-based gas storage operations. They will be provided with a common operating picture of the company’s infrastructure, connecting the entire operations together. With real-time access to this information, Kinder Morgan will be able to make data-driven decisions on gas storage, optimization, and maintenance. With that being said, is PLTR stock a buy right now?
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Upstart Holdings Inc.
Last but not least, we have Upstart. For the most part, it is a consumer lending company. Upstart primarily serves clients via an AI-powered lending platform. The likes of which help provide consumer loan solutions and services. Through a series of partnerships with banks and credit unions, the company expands access to affordable credit for the general public. As the economy continues to reopen, demand for Upstart’s services could rise. Because of this, investors could be eyeing UPST stock now.
For one thing, the company’s shares are already enjoying year-to-date gains of over 330%. Even so, it seems like Upstart does not seem to be slowing down anytime soon. In its latest fiscal quarter report posted last month, Upstart posted solid figures. To highlight, the company saw its total revenue skyrocket by over 240% year-over-year.
Moreover, Upstart also tripled its net income and earnings per share over the same period. If all that wasn’t enough, the company remains busy as ever on the operational front. As of today, the First National Bank of Omaha (FNBO) is expanding its partnership with Upstart. In doing so, the duo hopes to scale FNBO’s loan program nationwide. With Upstart seemingly firing on all cylinders now, will you be adding UPST stock to your portfolio?
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