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Best Tech Stocks To Buy Now? 4 Names To Know

With tech companies reporting their earnings, could tech stocks be a buying opportunity?

best tech stocks to buy

Top Tech Stocks To Watch In The Stock Market Today 

Investing in tech stocks in the stock market has not been as smooth sailing as it was last year. The sector comprises businesses that sell goods and services in industries such as information technology, software, computers, and many more. It is hard to imagine not having some form of technological influence in businesses today. Due to this fact itself, it is not a surprise that the sector includes companies with the largest market capitalizations such as Microsoft Corporation (NASDAQ: MSFT) and Amazon.com (NASDAQ: AMZN).  

Today, even fast-food giants McDonald’s (NYSE: MCD) is utilizing technology to improve customer experience and boost revenues. The company uses predictive analytics & machine learning to display food options onto outdoor digital drive-thru menus based on the weather, time of day, trending menu items, and current restaurant traffic. This allows McDonald’s to create a more personal experience for their customers. In fact, this is only made possible after the acquisition of digital customer experience technology company Dynamic Yield.

All in all, technological news continues to grab headlines this year. Do you agree that tech will continue to be an integral part of our lives? If so, could these top tech stocks be worth your attention in the stock market today?

Top Tech Stocks To Buy [Or Sell] Today 

Apple Inc 

To start off the list, we have the tech giant that needs no introduction, Apple. As most of us would know, the company designs and markets mobile devices, personal computers, and digital music players. The company announced its fiscal Q2 earnings last week. Apple posted a quarter record revenue of $89.6 billion, up 54% year-over-year. Out of which, 67% is from international revenues. Similar to many tech stocks, AAPL stock has seen significant gains over the past year. It has risen by an impressive 70% during the period. 

On Wednesday, Apple awarded an additional $410 million from its Advanced Manufacturing Fund to II-VI (NASDAQ: IIVI), a leading manufacturer of optical technology. II-VI manufactures vertical-cavity surface-emitting lasers (VCSELs) that help power Face ID, Memoji, Animoji, and Portrait mode selfies. This extended collaboration will undoubtedly create additional capacity and accelerate the delivery of future components for the iPhone.

Furthermore, Apple also announced last week that it will accelerate its U.S. investments. It plans to make new contributions of more than $430 billion over the next five years. This includes tens of billions of dollars for next-generation silicon development and 5G innovations. As a result, this will create more job opportunities as well as investment in next-generation innovative businesses. With that in mind, is this the right time to buy AAPL stock?

[Read More] Best Stocks To Buy Now? 4 Consumer Discretionary Stocks In Focus

Snowflake Inc 

Snowflake is a cloud data platform provider. The company’s platform enables customers to consolidate data into a single source. In essence, this would help provide crucial business insights and build data-driven applications. Snowflake is often credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. 

In March, the company reported its fourth-quarter and full-year financials for fiscal 2021. Impressively, revenue for the quarter was $190.5 million, an increase of 117% year-over-year. Snowflake also said its net revenue retention rate was 168%, a respectable achievement. The company said that it now has 4,139 total customers, a 73% year-over-year growth.

Back In February, Snowflake and BlackRock (NYSE: BLK) announced a strategic partnership. In detail, BlackRock would launch Aladdin Data Cloud, a solution for investment managers to expand the utility of data, powered by Snowflake’s platform. The partnership aims to make data more accessible and actionable for the investment management community.  Separately, with the company reporting earnings on May 26, will you consider adding SNOW stock to your watchlist?

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Arista Networks Inc 

Arista Networks is a supplier of cloud networking solutions. In detail, it uses software innovations to address the needs of Internet companies, cloud service providers, and data centers for enterprise support. At the core of Arista’s platform is the Extensible Operating System (EOS™). It is a ground-breaking network operating system with single-image consistency across hardware platforms, and a modern open core architecture enabling in-service upgrades and application extensibility. Arista is another company that announced its Q1 results this week. The company posted revenue of $667.6 million, an increase of 27.6% from the first quarter of 2020. In addition, the company reported a healthy operating profit of $198.8 million for the quarter.  

This goes to show that customers are responding to the company’s focus on cognitive cloud networking suites. It is also noteworthy that the company has performed well throughout the pandemic, and this recent earnings report is the sixth consecutive quarter that the company has beaten analysts’ expectations.

Furthermore, in early April, Arista announced CloudVision 2021. CloudVision is a multi-domain management plane that enables operations consistency across data centers, campus wired and wireless, and public cloud use cases. This uniform approach would simplify network operations for Arista’s customers and partners. With that in mind, would you consider investing in ANET stock? 

[Read More] Top Video Game Stocks To Watch After Activision Blizzard Beat Estimates

Twitter Inc 

Last but not least, we have Twitter. Basically, it is a microblogging and social networking company. Its software service allows people to connect and communicate via messages known as ‘tweets’.

In late April, the company announced its first-quarter financial results. Revenue for the quarter was up by 28% year-over-year, coming in at $1.04 billion. Net income was $68 million, representing a net margin of 7%. This compares to a net loss of $8 million for the same period last year. Safe to say, if you had invested in TWTR stock a year ago, it would’ve been a sound investment. The stock has almost doubled in price over the past year. 

With that being said, the company is not taking anything for granted and still strives to improve its software. Twitter’s acquisition spree continued on Tuesday, where it acquired a news tech company, Scroll. This is a subscription service that offers its users a better way to read through long-form content on the web by removing ads. The service will become a part of Twitter’s larger plans to invest in subscriptions. Given the prospect for growth of the company, would you consider adding TWTR stock to your portfolio?

By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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