Do You Have These Top Tech Stocks On Your Watchlist?
Most investors will agree that tech stocks have dominated the stock market this year. The term ‘tech’ has expanded massively over the years. Rightfully so, as innovation and strides in technology continue to benefit humans in every facet of our lives. To a certain extent, one could say that the top tech companies shape the way we live in this modern age. Admittedly, with the industry having such a huge impact on the world, it is no wonder that top tech stocks are thriving. For instance, Zoom (ZM Stock Report) has been the poster child of tech stocks, rising about 500% this year.
Because technology comes in many different flavors, we have also seen countless tech stocks flourish this year. Video streaming company Roku (ROKU Stock Report) saw its stock rising by about 350% since the stock market crash in March. Another example would be Amazon (AMZN Stock Report). This tech giant is among the top performers on the stock market this year. During the onset of the pandemic, e-commerce transformed from mere convenience to a necessity overnight and Amazon was ready to accommodate this happenstance because of its tech expertise. As such, its share prices are up by a massive 67% which is huge considering its current pricing of over $3000 a share.
Evidently, in good and bad times investors gravitate towards top tech stocks. Some say that tech stocks are now the safe havens in the stock market today. All this might raise the question, which are the best tech stocks you should be watching now?
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Top Tech Stocks To Watch In December 2020: DocuSign Inc
First on our list is DocuSign (DOCU Stock Report). It allows organizations to manage electronic agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature services. Basically, this provides a means of signing documents electronically on different devices. Its booming success from the unexpected rise in remote work is welcome news for investors. Clearly, this can be seen as its share prices have tripled since the beginning of the year.
Looking at its recent quarter fiscal released yesterday, the company continues to impress investors. DocuSign reported a 53% year-over-year increase in total revenue. It saw gains of 54% in subscription revenue and 43% in professional service revenue in the same period. According to CEO Dan Springer, “As companies accelerate the digital transformation of their business and agreement processes, DocuSign’s role as an essential cloud platform continues to grow.” Investors may be wondering what makes this well-oiled machine of a company tick.
In terms of operational highlights, the company recently announced over a dozen new product capabilities. These are poised to help customers get remote work done faster and easier. Here are several key highlights. Firstly, its eSignatures feature facilitates easy sending and signing of important documents on Slack (WORK Stock Report). Second, Drawing allows users to leave free-form markups on images. Third, Agreement Actions allow admins to easily configure rules to automate common post-signature actions. Additionally, the company also appears to be improving its mobile app user experience as well through a recent iOS app update. DocuSign appears to be firing on all cylinders moving forward. That said, would DOCU stock be enticing enough to be on your watchlist?
Top Tech Stocks To Watch In December 2020: Intel Corporation
Intel’s (INTC Stock Report) share prices are up by 14% since the start of November. As one of the largest semiconductor chip manufacturers in the world, Intel supplies microprocessors for computer manufacturers. On top of that, the company also manufactures a wide array of communications and computing devices. These range from motherboard chipsets to network interface controllers and even graphic chips.
In its recent quarter fiscal released in October, the company reported a 4% decrease in revenue year-over-year. This was accompanied by a 28% decrease in net income and a 14% decrease in cash on hand as well. CEO Bob Swan explained, “Our teams delivered solid third-quarter results that exceeded our expectations despite pandemic-related impacts in significant portions of the business.” In its outlook for its full fiscal year 2020, the company expects a 5% increase in revenue year-over-year. This could intrigue investors as it did not present the most favorable results this last quarter. What could Intel have up its sleeves?
Yesterday, the company unveiled ControlFlag, which is its latest groundbreaking creation. ControlFlag is a machine programming research system that can autonomously detect errors in code. Even in its early stages, this novel, self-supervised system showed promising results. Should all things go as planned, ControlFlag could serve as a revolutionary productivity tool to assist software developers with the labor-intensive task of debugging their code. In short, this saves time and resources for potential customers. Given all this, do you think INTC stock is worth watching?
[Read More] 3 Top Software Stocks To Watch In December 2020
Top Tech Stocks To Watch In December 2020: Trade Desk Inc
Lastly, we have Trade Desk (TTD Stock Report). Trade Desk serves to facilitate the purchase of data-driven digital advertising campaigns across various ad formats and devices. The company is one of the largest independent demand-side platforms (DSPs) in the world. It provides real-time ad pricing and placement for advertisers. Furthermore, Trade Desk’s service software platform serves as a medium that integrates data, inventory, and publisher partners. Its current business model appears to be working well for the company as its share prices are up by 226% year-to-date.
Correspondingly, its financials also appear to be rather healthy. In its third-quarter fiscal released in November, the company reported a 31% rise in revenue year-over-year. Moreover, it saw jumps of 112% in net income and 150% in cash on hand year-over-year as well. CEO Jeff Green cites the coronavirus pandemic making advertisers more deliberate and data-driven as a key source of the company’s success in the quarter. The company also benefits from a massive consumer shift to streaming TV. Trade Desk’s past strategic investments in building its Open Internet alternative for advertisers appear to have paid off so far.
Recently, Trade Desk announced an interesting collaboration with Nielsen (NLSN Stock Report). In particular, it will involve the industry-wide initiative to develop and deploy Unified ID 2.0. Unlike cookies, Unified ID 2.0 will operate across advertising channels. Key elements of Unified ID 2.0 include encrypted identification, transparent consumer controls, and single sign-on capabilities. Simply put, it will help advertisers understand campaign performance across numerous platforms in a precise and easy to measure way. Do you think this can make TTD stock a top tech stock to buy?