Do You Have These Tech Stocks On Your Watchlist This Week?
Tech stocks have been outperforming through the first two decades of the 21st century. Can we expect the trend to continue over the next decade? Well, I can’t speak for everyone. But the strengths demonstrated by the technology industry, be it innovative products or services offerings, are continually growing influence across all aspects of society. We can’t deny the fact that the technology industry has evolved since the dotcom bubble. Tech companies are showing actual profitability and resilience during the pandemic. And that has widened the playing field for tech stock enthusiasts. With so much optimism in the space, it is easy to understand why investors have been looking for top tech stocks to buy for potential breakout gains in the long run.
With so many tech stocks showing high growth this year, some are reconsidering to offer stock splits to draw more investors. This came after the strong stock price appreciation demonstrated by Tesla (TSLA Stock Report) and Apple (AAPL Stock Report). In order to entice more investors to invest in the stock market today, financial restructuring is no longer enough to do the magic.
Just to be clear, tech stocks aren’t done growing. The increasing presence of technology in all aspects of our life means that there’s still plenty of upside. This also holds true for the biggest tech stocks on Wall Street. That’s considering Amazon (AMZN Stock Report), the biggest e-commerce company in the stock market, which jumped more than a whopping 50% year to date. Certainly not an easy feat for its size. As the market continues to find new ways for innovative offerings, could these tech stocks fit the mold?
- Top 5 Things To Watch In The Stock Market This Week
- Are These The Best Casino Stocks To Buy For Q4 2020?
Best Tech Stocks To Buy [Or Avoid] Now: Oracle
The ban on TikTok was supposed to take effect midnight Sunday. But it did not happen. This came after President Trump approved a deal that sees ByteDance sell a stake of the video-sharing business to Oracle (ORCL Stock Report) and Walmart (WMT Stock Report). It is reported that Oracle and Walmart will attain 12.5% and 7.5% respectively in TikTok Global. National security aside, this could potentially cement Oracle’s long years plan to become a cloud computing heavyweight by providing computing services to TikTok.
“We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.”– Safra Catz, Oracle CEO.
This is a much-needed win for Oracle, the world’s second-largest software maker after Microsoft (MSFT Stock Report). Oracle has been looking to make a comeback in the increasingly competitive cloud industry. Now that ORCL stocks have broken through the level it was trading at the beginning of this year, could this be the start of Oracle’s growth story in the years ahead? If you haven’t been putting on a list of top tech stocks to watch now, you might want to include ORCL stock to start.
Best Tech Stocks To Buy [Or Avoid] Now: Netflix
Netflix (NFLX Stock Report) is next in line when it comes to top tech stocks to watch as we enter the new week. The streaming giant continues to face serious backlash following the release of the French film “Cuties”. Investors should brace for volatility in NFLX stock in the coming few days. This is as the company is seeing a wave of cancellations on the platform. The company’s share price reached an all-time high on September 1st. Since then, NFLX seems to be on a downward trend.
“Cuties” has received criticism from both sides of the aisle. High profile politicians including Republican Senator Ted Cruz and Hawaii Rep. Tulsi Gabbard — who ran for the Democratic presidential nomination — hammered the film for over-sexualizing young girls. The hashtag #CancelNetflix has been trending on social media recently.
No doubt, NFLX has been one of the best stay-at-home stocks this year. This is not the first time the company has to face subscriber losses. And it will also not be the last. While this time around, the cancellation rate seems significantly higher, it shouldn’t have much of a lasting impact on the company’s overall subscriber base. The streaming giant has well over 182 million users worldwide. It is still the clear leader in the increasingly competitive video-streaming space. Now that the company continues to dip, would this present an opportunity for scalpers to profit?
Best Tech Stocks To Buy [Or Avoid] Now: Teladoc
Shares of Teladoc (TDOC Stock Report) closed 3% higher on Friday. There wasn’t any specific news why the stock would have popped on that day. If we are really trying to find an explanation, then TDOC stock seems to be rising on the successful listing of a peer telemedicine services provider.
The successful debut of Amwell (AMWL Stock Report), which started trading on Thursday appears to be the reason for creating another wave of investors’ interest in the telehealth sector.
In fact, telehealth is not something new. The service has been available in the past few years. But it is only gaining strong traction during the coronavirus pandemic. A commanding lead in a rapidly growing niche makes TDOC stock one of the best tech stocks to buy. The long term prospects of telemedicine remain favorable. With more users now discovering the advantages of remote medicine, TDOC stock might be able to continue to thrive even after the pandemic.