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Looking For New Stocks To Invest In Now? 3 Tech Stocks To Watch

Could tech stocks be the play as valuations remain shaky in the market today?

new stocks to invest in

Are These The Best Tech Stocks To Invest In This Week?

As investors continue to deal with market volatility, tech stocks would, arguably, be in an interesting position today. Overall, this area of the stock market would not be the first choice for investors amidst economic uncertainties. However, with some of the largest tech firms trading well below their sky-high pandemic-era valuations, this could be the case. Whether or not investors are looking to buy the dip now, tech firms also remain as active as ever. As such, it would not surprise me to see investors considering the top tech stocks in the stock market today.

For instance, we could look at the recent news surrounding video streaming goliath, Netflix (NASDAQ: NFLX). Notably, as of earlier today, a report from The Information notes that Netflix is hard at work building its ad-supported content. According to the report, Netflix is currently in talks with both Roku (NASDAQ: ROKU) and Comcast (NASDAQ: CMCSA). In detail, The Information writes that Netflix is looking toward these ad-tech firms to help with ad sales or technical infrastructure management. Not to mention, this comes less than a week after reports of Netflix potentially making a takeover offer for Roku.

Another tech industry heavy-hitter worth considering now would be Amazon (NASDAQ: AMZN). As of yesterday, the company is launching its drone delivery service in the Lockeford, California region. This would make it the first region to receive drone deliveries later this year. According to Amazon, the drones can fly beyond the line of sight and will be programmed to deliver packages to customers’ backyards. After considering all this, here are three more top tech stocks to look out for in the stock market now.

Tech Stocks To Buy [Or Sell] Today

Oracle Corporation

First and foremost, we have Oracle. Oracle is a computer technology corporation that provides organizations around the world with computing infrastructure and software. The company is one of the largest suppliers of database software and business applications in the world. On the whole, the company primarily operates via its Oracle database software, a relational database management system, and for computer systems and software, such as Solaris and Java.

After the closing bell on Monday, Oracle announced its fourth quarter of 2022 and the fiscal full-year financial results. In summary, Total quarterly revenues were up 5% year-over-year and up 10% in constant currency to $11.8 billion. Cloud services and license support revenues were up 3% and up 7% in constant currency to $7.6 billion. Cloud license and on-premise license revenues were up 9% and 12% in constant currency to $5.9 billion. Furthermore, the company has reported a net income of $3.2 billion, with an earnings per share of $1.16.

Last week, Oracle completed its acquisition with Cerner. With Cerner, the company will build inroads in the healthcare industry which has been slow to adopt cloud technology. Simultaneously, the company believes that revenues may increase up to 19% in the current quarter. Larry Ellison, the Oracle Chairman, and CTO said, “Cerner and Oracle together have all the technologies required to provide healthcare professionals with better information—and better information will fundamentally transform healthcare.” Given the strong earnings report, do you have ORCL stock on your watchlist?

Source: TD Ameritrade TOS

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Twitter Inc.

Twitter is a real-time social media network that allows anyone to express themselves publicly. It links users to people, information, ideas, views, and news through a network. In addition, the company offers live commentary, live connections, and live dialogues. Through mobile devices and the internet, the application delivers social networking and microblogging capabilities. Moreover, businesses can utilize the corporation as a marketing tool. Promoted Tweets, Promoted Accounts, and Promoted Trends are some of the company’s services.

As many would know by now, Elon Musk, the chief executive officer of Tesla (NASDAQ: TSLA) has made a deal with Twitter to take over the company. Twitter has agreed to sell itself to Musk for $54.20 a share. In total, the deal is worth about $44 billion. With this deal, Elon Musk has planned to take the company private. This deal is now expected to close this year, subjected to the vote of Twitter shareholders and certain regulatory approvals.

In recent light, Musk will be addressing Twitter employees for the first time this coming Thursday. Parag Agrawal, the chief executive officer of Twitter, had announced a meeting in an email to the employees. Musk has expressed frustrations towards the company’s management, as there had been several fake accounts on the social media platform. With that, Twitter has complied with Musk’s demands of sharing the information for analysis of the issues at hand. Additionally, Twitter intends to enforce this merger agreement. Knowing all of this, is TWTR stock worth investing in right now?

Source: TD Ameritrade TOS

Apple Inc.

Last but not least, let us look at the multinational technology company, Apple. The corporation is a leader in the development and distribution of innovative information and communication devices. Furthermore, Apple has always been at the forefront of product development. Apple’s product portfolio includes iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV. The company also develops and markets a wide range of software needed to support the operation of the company’s media and other communication tools.

Recently, Apple announced its next-generation laptops, featuring the iPhone maker’s next-generation in-house chips. Ever since the company started selling its Macs powered by its homegrown M1 processors in late 2020, the company’s computer business has been picking up momentum. Now, the company has introduced the M2, which will debut in the new Macbook Air and Macbook Pro. Apple says that its M2 chip is about 1.2x faster in terms of photo editing tasks. Additionally, Mac sales have been reported to have risen over 14% in the March quarter.

At the same time, Apple provides its users with gaming and music streaming services namely Apple Arcade and Apple Music respectively. These two offerings could see revenue jump by 36% to $8.2 billion in 2025, according to JPMorgan (NYSE: JPM). Additionally, these two services are likely to have a combined number of 180 million subscribers due to the booming gaming industry. In particular, Apple Music is the second-largest music-streaming service in the world and could rake in approximately $7 billion by 2025. As Apple gains momentum, would AAPL stock be a top tech stock to consider adding to your portfolio?

Source: TD Ameritrade TOS

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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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