Are These The Best Tech Stocks To Buy Right Now?

Tech stocks have significantly shaped the stock market in recent years. This was inevitable as the world digitalized at an unprecedented rate. If anything, the coronavirus pandemic had catalyzed this digitalization. The tech-filled world that we live in today has huge benefits and opportunities that would have been beyond our ancestors’ wildest dreams. A mere 50 years ago, you would not think it was possible to have live video conferencing and autonomous vehicles. Today, these technological feats have become the norm for many. The world we live in today has many tech services that are widely adopted. For instance, top tech stocks like Amazon (NASDAQ: AMZN) and Chewy (NYSE: CHWY) have become the go-to platforms for consumers to satiate their shopping needs.

With so many things happening around us, it can be a daunting task for investors to pick the next best tech stocks to buy. Despite the high premiums that come with tech stocks, they still promise growth as their products and services continue to receive overwhelming demand from consumers. Tech companies like Nvidia (NASDAQ: NVDA) had a record year in 2020 and definitely have the momentum to power through 2021. With that in mind, here is a list of top tech stocks that could be worth adding to your portfolio.

Best Tech Stocks To Buy [Or Sell] Now

BlackBerry Limited

BlackBerry has been on fire in the stock market lately. To elaborate, the company’s shares are up by over 150% year-to-date and have shown no signs of stopping. The company is a provider of intelligent security software and services to enterprises around the world. Today, BlackBerry announced that it will expand its partnership with tech giant Baidu (NASDAQ: BIDU) to power net generation autonomous driving technology.

communication stocks to buy now (BB stock)

With BlackBerry QNX’s embedded software as its foundation, Baidu has made significant progress as part of its Apollo platform in establishing a commercial ecosystem for innovative technologies that OEMs can leverage for their next-generation vehicles,” said Dhiraj Handa, VP, Channel, Partners, and APAC, BlackBerry Technology Solutions. “We look forward to continuing to work closely with Baidu to help develop and deploy leading-edge autonomous driving and connected vehicle technologies to meet the ever-increasing mission-critical and security requirements of the automotive industry.

The expanded partnership will provide car manufacturers with a clear and fast path to the production of autonomous vehicles, with safety and security as a top priority. Furthermore, BlackBerry’s QNX software will perform superbly well in functional safety, network security, and reliability. This would certainly position the company for growth as it continues to expand its technological services. With that in mind, will you consider buying BB stock?

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Koss Corporation

Koss is a company that designs and manufactures headphones. The company is based in Wisconsin and has been making headphones and speakers for audiophiles since the late 1950s. KOSS stocks have been up by over 80% year-to-date. The company’s share price has also increased by a staggering 108% in pre-market trading as of 9:27 a.m. ET. So, what is causing this latest spike in share price for the company?

top tech stocks to watch (KOSS stock)

These huge gains for Koss stock seem to be coming from a subreddit called WallStreetBets. A subreddit is a specific online community on the social website Reddit. Following a tweet from portfolio manager Will Meade that Koss Corporation could be the next target of users from the subreddit, the stock rallied strongly and ended up recording these impressive gains.

How has the company been doing financially so far? In its latest quarter financials posted in October, the company reported sales of $5.2 million. The company reported that it experienced an increase in online direct-to-consumer sales. This increase in sales is a result of more people studying and working from home. All things considered, will you have KOSS stock as a top tech stock to buy?

[Read More] Making A List Of SPAC Stocks To Watch This Week? 3 Names To Know

Microsoft Corporation

Microsoft is a tech giant that is almost synonymous with all things tech. The company develops and manufactures computer software, electronics, and personal computers. Furthermore, it is best known for its software products like Microsoft Windows and Microsoft Office. The company announced its second-quarter financials after today’s closing bell. Microsoft shares are up by 5.8% year-to-date and are currently trading at $240.92 in after-hours.

best tech stocks (msft stock)

Work and learning from home trends continue to power increased demand for Microsoft’s products and services, evidenced by strong fourth-quarter demand in its Intelligent Cloud and Productivity and Business segments. In the company’s second-quarter fiscal posted Tuesday, it reported a revenue of $43.1 billion, a 17% increase. Also, net income for the quarter was $15.5 billion and increased by 33% year-over-year. Operating income came in at $17.9 billion, representing a 29% increase YoY, and diluted earnings per share (EPS) of $2.03, for a gain of 34%.

The company also saw revenue for its Intelligent Cloud, hit $14.6 billion, representing an increase of 23%. This is likely due to more people working from home, and companies transitioning to the cloud to accommodate remote working. The company also returned $10 billion to shareholders in the quarter through share repurchases and dividends. This was an 18% increase compared to the first quarter of its fiscal year 2020. With such impressive financials, is MSFT a top tech stock to watch this week?

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Advanced Micro Devices Inc.

AMD is a tech company that has had an impressive 2020. After announcing its latest generation central processing unit (CPU) and graphical processing unit (GPU), the company has been receiving rave reviews for its processors’ performance and price tag. Like Microsoft, the company announced its fourth-quarter earnings after the close of the market Tuesday.

best tech stocks to buy (AMD stock)

In AMD stock’s fourth-quarter fiscal posted Tuesday, it reported revenue of $3.24 billion, a 53% increase year-over-year (YoY). Also, net income for the quarter came in at $1.78 billion and increased by an impressive 948% year-over-year. Operating income reported at $570 million, representing a 64% increase YoY, and diluted earnings per share (EPS) of $1.45.

Also, earlier this month, the company announced the full portfolio of AMD Ryzen 5000 Series Mobile Processors, bringing its highly efficient and extremely powerful core architecture to the laptop market. This play by the company is certainly well-timed as laptops become an even more essential part of how we work and connect today. This surge in full-year revenue and profits could also be due to strong demand for the company’s products, particularly from cloud giants like Microsoft and Google (NASDAQ: GOOGL). With such exciting developments surrounding the company, will you consider adding AMD stock to your portfolio?

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