top tech stocks

Should Investors Be Watching These Top Tech Stocks? 3 Names To Know

It has been a fantastic year for tech stocks. Regular readers of will have seen this line time and time again this year. Yet, each time there is always something new going on in the tech industry that benefits both top tech stocks and investors to some extent. Despite the tech industry’s amazing rallies so far, tech investors are hungry for more as we head into the new year in the stock market. Naturally, this would be a normal reaction as the tech world is a continuous race filled with non-stop innovation.

In reality, this is necessary as we continue to face new problems every day. Technology serves to help us solve problems and challenges we face. This year, one of the biggest challenges faced was working from home. Because of this, tech companies are amongst the top work from home stocks. Zoom (ZM Stock Report) and Slack (WORK Stock Report) are prime examples of this. With most people working from home now, Zoom provided a means of telecommunication while Slack did the same for workplace instant messaging. However, it is important to note that Zoom saw its current all-time high on October 19. Since then, ZM stock has dropped by over 35%. Of course, that’s a result of developments on the vaccine front which raised hopes of reopening. Nevertheless, ZM stock is still up by over 400% in 2020.

For one thing, the risks of tech investing do not come without merits. Seasoned investors know that due diligence and proper research can help to a certain extent. Are there a lot of things we don’t know about 2021? Sure. But there will be new problems needing more tech, and tech investors are ever-ready to pounce when that time comes. Accordingly, here is a list of the best tech stocks on our radar now.

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Top Tech Stocks To Watch This Week: Taiwan Semiconductor Manufacturing Company 

First up, we have Taiwan Semiconductor Manufacturing Company (TSM Stock Report). As the name suggests, the company is in the game of manufacturing semiconductors. It is one of Taiwan’s largest companies and amongst the world’s most valuable semiconductor companies. Notably, TSM stock is up by over 140% since the March lows. Let’s take a closer look.

In its third-quarter fiscal reported in October, the company brought in $12.6 billion in total revenue. This marked a 21% year-over-year rise. On top of that, it also saw gains of 35% in earnings per share and net income over the same time. CFO Wendell Huang said, “Moving into fourth quarter 2020, we expect our sequential growth to be supported by strong demand for our industry-leading 5-nanometer technology, driven by 5G smartphone launches and HPC-related applications.” With solid financials and a clear growth pathway in mind, TS appears to be confident moving into 2021.

best tech stocks (TSM stock)

Earlier this month, Taiwan Semiconductor bought 1,128 acres of land in north Phoenix, Arizona for the construction of its new $12 billion factory. The new manufacturing facility will create up to 1,900 new jobs over the next five years. More importantly, the company estimates that the facility will bring in $38.2 billion over the next twenty years. The company is constantly growing and making the most of its deep pool of resources. Understandably, investors with TSM stock on their watchlist will continue to keep a close eye on it. Will you be doing the same?

Top Tech Stocks To Watch This Week:, Inc.

Our next entry needs no introduction because we are looking at tech goliath Amazon (AMZN Stock Report). AMZN stock has jumped by over 70% year-to-date. Admittedly these numbers may not seem as impressive as the likes of other top tech stocks. But, you should take into account that AMZN stock is currently up by over $1300 a share at the moment. In light of this, you may wonder how it is still making strides in the tech world.

Yesterday, it was reported that Amazon is launching a computer science education program in India. This will see the extension of its computer science program Future Engineer which is based there. The company is using its tech expertise to explore the field of education in India. It seems that Amazon is beginning to explore alternative means of penetrating the rapidly growing Indian market. Could this contribute to the company’s growth in the long run? It may be too soon to say. Nevertheless, with Amazon’s track record in tech, I would say investors are still keen on watching it moving forward.

top tech stocks (AMZN stock)

In terms of financials, Amazon does not appear to be slowing down anytime soon. The company posted its third-quarter fiscal in October. In it, the company saw a 37% rise in revenue year-over-year, reaching a whopping $96.14 billion. Moreover, it also saw an increase of 192% in earnings per share from the same quarter last year. Ideally, Amazon will want to leverage its gains this year to make the most of its other segments in 2021. With that in mind, do you think AMZN stock can continue flourishing next year?

[Read More] Why Square (SQ) Stock Could Go Higher In 2021 And Beyond

Top Tech Stocks To Watch This Week: Cloudflare Inc

Cloudflare (NET Stock Report) is a cybersecurity company that has been making waves on the stock market this year. With NET stocks seeing gains of 355% year-to-date, investors seem to be very interested in what it has to offer. In light of the rising demand for cybersecurity this year, could Cloudflare be looking at clear blue skies in 2021? 

In its recent quarter fiscal posted in November, the company reported a 54% leap in total revenue year-over-year. For a company that just hit its $100 million revenue milestone, I can see why investors may think it has room to grow. CEO Matthew Prince said, “I’m incredibly proud that we exceeded financial, customer, and innovation milestones, all while providing our services, at no cost, to state and local governments to ensure that cyberattacks don’t disrupt the United States 2020 elections. The world has never needed the Internet more than it has over the last nine months, and we’re laser-focused on helping to keep it fast, reliable, and secure.” Seeing as NET stock has risen over 30% since then, investors appear to be interested in Cloudflare, to say the least.

best tech stocks (NET stock)

Taking into consideration that the company has 3.2 million clients using its free services, I would say that Cloudflare is in a great spot. With the scare of the recent U.S. government hack earlier this month, demand for cybersecurity will likely continue to rise. On top of that, the company launched its website development platform for businesses. I could see budding business owners turning to Cloudflare over other alternatives for the sake of increased cybersecurity. Regardless, it appears to be in a great position to make the most of the current tailwinds. Do you think this means big gains for NET investors in the months ahead?

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