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Best Tech Stocks To Watch This Week? 4 Names To Know

Given the recent pullback in the stock market, are tech stocks worth looking out for?

top tech stocks

Are These The Best Tech Stocks To Buy On Monday?

Given how technologically driven our lives are today, it is inevitable that tech companies would be in focus when looking for investing opportunities. Despite the recent dip in tech stocks, one should not write them off as they could still have a lot of growth potential. A recent all-time high of the tech-heavy Nasdaq Composite in February could be a clear indicator that tech is still with a bullish sentiment. Every industry is constantly trying to add technology in their respective sector after all to improve the efficacy of their products and services. For instance, renowned tech companies like Amazon (NASDAQ: AMZN) and Nvidia (NASDAQ: NVDA) have utilized machine learning in 2020 with great success. 

Amazon in particular has taken advantage of machine learning’s potential for demand forecasting, enabling their system and supply more efficiently to meet shifts in demand. Even non-tech companies like Starbucks (NASDAQ: SBUX) have been constantly trying to add tech to their service. Starbucks has been using reinforcement learning technology — a type of machine learning in which a system learns to make decisions in complex, unpredictable environments based upon external feedback. This provides a more personalized experience for the customers who use the Starbucks mobile app. We can clearly see how technology is influencing our daily lives, so why would one assume that this is going to change in the near future? If you are a firm believer in technology, why not have a look at some of these top tech stocks today?

Top Tech Stocks To Watch In April 2021

MicroVision Inc.

MicroVision is a pioneering company in laser beam scanning technology that integrates lasers, optics, hardware, and machine learning software into its proprietary technology to address existing and emerging markets. The Company’s integrated approach uses its proprietary technology to provide solutions for automotive lidar sensors, augmented reality micro-display engines, interactive display modules, and consumer lidar modules. MVIS stock has been up by over 15% since the start of the week and closed at $15.54 on Thursday.

Source: TD Ameritrade TOS

A recent contract of up to $22B between Microsoft (NASDAQ: MSFT) and the U.S. army for the Hololens 2 may have been behind this latest rally for MicroVision. Investors seem to be responding to the news of MicroVision being potentially involved with the deal. The company has taken AI-connected devices to another level, after all, providing seamless interactions through display, touch, gesture, and sense. All things considered; will you have MVIS stock on your watchlist?

[Read More] Top Dividend Stocks To Buy In 2021? 5 For Your List

UP Fintech Holding Limited

Next on the list, UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. Their proprietary mobile and online trading platform enable investors to trade in equities and other financial instruments on multiple exchanges around the world. TIGR stock currently trades at $17.58 as of Thursday’s closing and has doubled in valuation year-to-date.

Source: TD Ameritrade TOS

With the global pandemic still haunting most regions around the globe, many people have started exploring the idea of trading in the market. Therefore, this has led to increased trading activity and UP Fintech could have benefitted from this outcome. This was shown through their fourth-quarter financials that were reported last week. In it, UP Fintech showed a massive increase in its business both for the quarter and full-year 2020. The company reported a total quarterly revenue of $47.2 million, an increase of 135% year-over-year. Furthermore, net income for the quarter was $9.4 million.

Also, the company reported that its total number of customers with deposits increased by 128.4% to 258,700. It also posted a total margin financing and securities lending balance of $2 billion, doubling from a year earlier. As market activity continues to thrive and blossom, will TIGR stock be worth watching?

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Kopin Corporation

Kopin Corporation is a leading developer and provider of critical components for integration into wearable computing systems. Its products are used primarily in the military, industrial, and consumer markets. Kopin’s technology portfolio includes ultra-small displays, optics, and low-power ASICs. 

Source: TD Ameritrade TOS

In February, it was announced that Kopin and HMDmd have entered a development agreement to develop a wearable display system for surgeons. HMDmd is a tech company that develops wearable display systems and interventional medicine. The device, based on Kopin’s proprietary platform, will be integrated with the company’s advanced surgical systems. Last year, Kopin had 12 new patents granted and filed for four new applications. In total, the company has over 200 patents and patents pending, almost all of which are related to wearable applications.

More importantly, the company has made huge strides financially over the past few years. Total revenues for the fourth quarter of 2020 were $13.9 million, a 60% increase year-over-year. Product revenues and R&D revenues grew by 50% and 56% year-over-year, respectively. The company has made great progress in streamlining its cost structure along with increasing its product yields and production efficiencies in the last year. So, with KOPN stock constantly expanding its operations and relations, would investors be willing to take a chance?

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PubMatic Inc.

PubMatic is a tech company that develops and implements advertising software and strategies for the digital publishing and advertising industry. The company’s cloud infrastructure platform is used for digital advertising, empowering app developers and publishers to increase monetization. It also enables media buyers to drive return on investment by reaching their target audiences. PUBM stock has been up by 17% this past Thursday.

Source: TD Ameritrade TOS

The company reported its fourth-quarter financials in February, much to investors’ delight. In it, the company reported a revenue of $56.2 million, a 64% increase year-over-year. Net income for the quarter was $18.8 million. The company also ended the quarter with $101 million in cash. These impressive financials are likely due to PubMatic’s differentiated market position across the digital advertising ecosystem. The company is currently in the midst of an accelerated digital transformation as more consumers are spending more time online. With that in mind, will you consider PUBM stock as a top tech stock to watch?

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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