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Looking For The Best Stocks To Buy Ahead Of March? 4 Tech Stocks To Consider

Could these tech players be your next big investment?

tech stocks to buy

Are These Top Tech Stocks Worth Investing In Now?

The modern world today is the result of decades of innovation in technology. It would make sense then, that tech stocks often outperform the broader market. Not only has the sector brought investors massive returns, but it also spoils them for choices. For instance, some of the best stocks from 2020 consist of the likes of Zoom (NASDAQ: ZM) and Square (NYSE: SQ). To point out, both companies’ share prices have more than tripled over the past year. Despite being tech companies, one operates as a teleconferencing platform while the other is in the financial tech sector. If anything, this speaks to the viability of tech across industries. How about 2021 you might ask? There is no doubt plenty of top tech stocks to choose from right now as well.

If you are looking to bank in on ad trends recovering to pre-pandemic levels, top ad-tech stocks like Magnite (NASDAQ: MGNI) are available. Not too familiar with that? Another option would be consumer tech which continues to pick up speed. In that case, you could turn to the likes of Nvidia (NASDAQ: NVDA) which could stand to benefit from the upcoming 5G technology. Whatever way you cut it, there is likely a tech stock for any investor out there. Could one of these four be a good fit for your portfolio?

Best Tech Stocks To Buy [Or Sell] Now

Energous Corporation

First up, we will be looking at Energous. It is a global leader in Wireless Charging 2.0 technology. Impressively, the company’s award-winning WattUp solution is the world’s first wireless charging tech that facilitates both contact and distance charging. Simply put, the company’s tech drastically improves on existing wireless charging through over-the-air charging. In theory, Energous’ groundbreaking technology could find plenty of applications across several industries. Just last month, the company announced that it had completed trials of its first-in-class wirelessly charged equine health-tracking sensor. Energous also revealed that it is on track to hit the market in Q1 2021.

More importantly, WATT stock nearly doubled last Friday on reports that it could be working with Apple (NASDAQ: AAPL). The stock has since dipped by 18% today as of 1:17 p.m. ET. Perhaps today’s dip could present a good opportunity to buy it at a discount?

Source: TD Ameritrade TOS

For the most part, the rumor indicates that Energous will be helping Apple develop a wireless charging battery pack for the newest iPhones. Essentially, the battery pack would be magnetically installed on Apple’s iPhone 12 product line via its proprietary MagSafe technology. Should this be the case, Energous could be looking at a massive client moving forward. Its expertise in wireless technology would synergize well with Apple’s core business. Providing ‘true wireless’ charging tech would provide another dimension of convenience for smartphone users across the board. Given all of this, do you think it is a good time to invest in WATT stock?

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AXT Inc.

Following that, we have AXT, a material science company that develops and manufactures semiconductor components. In detail, the company makes high-performance compound and single element semiconductor substrate wafers. AXT’s wafers come into play when typical silicon substrate wafers fail to meet the performance requirements of semiconductors. Because of this, the company’s end markets include 5G infrastructure, data center connectivity, LED lighting, and satellite solar cells to name a few. Given the application of AXT’s offerings across several booming industries, I could see it benefitting from several tailwinds. In fact, AXTI stock has gained by over 25% since last Friday on account of a stellar earnings report.

Particularly, the company reported total revenue of $27 million in its fourth-quarter fiscal, a 46% year-over-year increase. Adding to that, the company more than doubled its net income over the same period as well. AXT cites strong growth in its indium phosphide arm as a key factor of its solid performance throughout the fiscal year. This was especially true as demand for its 5G-related offerings increased in Q4 which Is “typically a seasonally down quarter.”

Source: TD Ameritrade TOS

Given the recent shortage of semiconductor chips, this does make sense. Moving forward, CEO Morris Young explained that AXT is in a strong position to leverage the gaining momentum of 5G technology. All things considered, will you be adding AXTI stock to your portfolio?

[Read More] 4 Top Growth Stocks To Watch In The Stock Market Today

Quotient Technology Inc.

Quotient Technology is a leading digital media and promotion tech company. In short, Quotient creates omnichannel brand-building and sales-driving opportunities for its clients. The likes of which include, Coca-Cola (NYSE: KO), Dollar General (NYSE: DG), and Johnson & Johnson (NYSE: JNJ). To elaborate, Quotient integrates consumer spending data, location intelligence, and purchase intent data on its proprietary platform. In turn, this data from millions of shoppers are put towards delivering actionable insights for organizations. Of course, Quotient’s services would be vital now. This is because businesses across industries need to be aware of consumer spending habits amidst the current pandemic. To illustrate, QUOT stock is up by over 150% since the March selloffs.

In terms of business highlights, Quotient revealed a recent expansion of its current services with one of its major clients. According to Quotient, it will be launching In-Lane Digital Promotions (ILDPs) at a “major drug retailer” in the second half of 2021. Essentially, ILDPs are targeted promotions that are printed on physical receipts. Given the omnichannel nature of Quotient’s offerings, this does make sense.

Source: TD Ameritrade TOS

Moreover, as vaccine rollouts continue, consumers could be making more physical shopping trips. In turn, this would further incentivize the adoption of Quotient’s ILDP solution in the long run. Could this make QUOT stock a top tech stock this year? I’ll let you decide.

[Read More] Looking For The Best Stocks To Buy Now? 4 E-Commerce Stocks To Consider

MicroStrategy Inc.

Topping off our list is business intelligence company MicroStrategy. To begin with, the company provides big-data analytics services on its comprehensive enterprise platform. Aside from catering to numerous Fortune Global 500 companies, MicroStrategy has also been in focus because of its investments in Bitcoin. Having over 71,000 bitcoins in its reserves, the company is no doubt a key cryptocurrency player. Furthermore, news broke earlier this month that MicroStrategy could be looking to establish a blockchain analytics team. Given its clear interest in Bitcoin, investors looking to cash in on the digital currency’s growth would look towards the company’s shares. As a result, MSTR stock is up by over 100% year-to-date.

If that wasn’t enough, the company also recently announced that it had completed a $1.05 billion debt offering. Last Friday, CEO Michael Saylor mentioned that MicroStrategy would be using net proceeds from this offering to acquire $1 billion worth of bitcoins. Not to mention, Bitcoin continues to surge in price as it surpassed the $56,000 mark over the weekend.

Source: TD Ameritrade TOS

With this placing it at a market value of $1 trillion, general hype around the cryptocurrency would continue to rise. By and large, it seems that MicroStrategy is set to ride the tailwinds brought on by Bitcoin for now. With that in mind, do you see MSTR stock as a good investment now?

By Adam Lawrence

Adam Lawrence is a serial entrepreneur and financial writer for StockMarket.com. He calls Miami, Florida his home but has a love for travel. He started his first digital marketing and website design business, in 2006 at the age of 23. He has worked with and consulted for hundreds of publicly traded companies. His vast knowledge of the public markets has allowed him to gain real-world experience in corporate communications. No matter what is going on in the stock market today, Adam is at the front of the line to track new trends and present them to readers.

As an active contributor to other financial sites like GuruFocus and Benzinga, Adam has gained prominence for reporting on several topics. These include biotech stocks, technology stocks, gold stocks, as well as marijuana stocks. These active stock market sectors have presented investors with some of the biggest opportunities in the stock market today. Adam's goal is to present readers with easily digestible content that is both informative and actionable.

Adam's years of experience in digital marketing have helped give him an edge above other financial writers. His ability to pick up on stock market trends before they hit Main Street is one of the things that has afforded him the opportunity to interact with and engage public companies. Reporting on current events is one thing but being able to dissect them and translate them for readers is of the utmost importance. In doing so, Adam has set a personal standard to deliver timely information that dives deeper than simple headlines and goes into the fine details of what's driving stock market trends. He also stays on top of the most current social media trends among top influencers.

With the emerging landscape surrounding new media, Adam takes an active approach to learn what drives interest in different social media and finds ways to tap into whatever is trending at that time then apply it to his approach to the stock market. In his free time, he enjoys being with his family and working on his house. He's also an avid car enthusiast.

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