tech stocks

Are These Tech Stocks On Your Watchlist Right Now?

When investors search for tech stocks, they always look at what these companies can offer. Be it a revolutionary new type of tech to something that has been refined to perfection, there is something for every type of investor. The coronavirus pandemic has undoubtedly flipped the stock market upside down this year. The good news is that things do seem to be moving on the upswing. The Nasdaq composite, which is a tech-heavy index, has just hit a record high as of yesterday’s closing. This is despite weeks of Nasdaq’s lackluster showing against the broader market indexes. The index is up by over 80% since the March lows.

It is evident that investors are flocking back into top tech stocks. As vaccine news optimism is spreading throughout the world, could tech stocks rise to even greater heights than before? Retrospectively, if you look at tech stocks, they have had an amazing year in the stock market. This contrasts with the energy and airline stocks that were all but decimated earlier this year. For instance, tech stocks like Netflix (NFLX Stock Report) and Zoom Video Communications (ZM Stock Report) saw explosive gains in 2020 alone. Zoom is now a household name as many people depend on the teleconferencing software to carry out work and social meetings.

However, with so many tech stocks in the stock market today, it can be a rather daunting task to pick the good from the bad. You could say that investors are spoilt for choice when it comes to tech stocks. Regardless, could it still be possible to ride on this tailwind that the tech industry has enjoyed this year? With that in mind, here are the top 3 tech stocks for you to watch.

Read More

Best Tech Stocks To Buy [Or Sell] Now: Micron Technology Inc.

Micron Technology (MU Stock Report) is a producer of computer memory and computer data storage. The Idaho-based tech company manufactures and designs DRAM memory chips that are widely used in many electronics. Sony (SNE Stock Report) and Microsoft (MSFT Stock Report) mainly use Micron’s GDDR6 RAM to power their next-generation consoles, the PlayStation 5 and Xbox Series respectively. With the advent of next-generation consoles, Micron shares are up by over 25% in the last month itself.

top tech stocks to watch (MU stock)

The company had just revised its first-quarter fiscal 2021 guidance last week, sending its shares on the upswing. In its fourth-quarter fiscal 2020 that was posted in September, the company reported a revenue of $6.06 billion, which is a 24% increase from a year ago. Micron also reported an impressive net income of $988 million.

This strong growth in this quarter came from its strong DRAM sales in cloud, PC, and gaming consoles. The company also expects the gaming market to further accelerate its growth in 2021 with robust demand for its GDDR6 memory chips. Micron’s memory chips also power high-end graphical processing units (GPU) for PCs. With more people staying at home, Micron could generate significant income in the next few months. With solid figures and strong fundamentals underpinning the company, will MU stocks be a top tech stock to watch?

Best Tech Stocks To Buy [Or Sell] Now: MongoDB Inc.

MongoDB Inc. (MDB Stock Report) is a tech company that develops and provides commercial support for the open-source database, MongoDB. It is the most popular database for modern apps today. Millions of developers use the company’s database to power the world’s most innovative products. Some prominent examples are Adobe (ADBE Stock Report) and Google (GOOGL Stock Report). The company’s shares are up by over 15% in the last month itself. MongoDB will be releasing its third-quarter fiscal today.

best cloud stocks to buy (MDB stock)

To get an idea of how it has been faring this year, the company’s second-quarter fiscal should paint a clearer picture. The company reported a respectable performance in its second-quarter fiscal posted in September. Total revenue was $138.3 million, a 39% increase compared to a year earlier. That came in large part from its subscription revenue of $132.5 million, which increased by 41% year over year. These are certainly very impressive figures for the company. 

The company’s strong growth in this quarter reflected impressive sales execution and the growing strategic importance of its modern data platform. Its platform allows MongoDB to solve many of its customers’ most complex digital transformation challenges. With the pandemic reshaping the digital space, there is a rising importance of digital transformation and cloud migration. This essentially plays well for the company, much to investors’ delight. For these reasons, will you consider buying MDB stock?

[Read More] Are These The Top Retail Stocks To Watch Going Into 2021? 1 Up By Over 150% YTD

Best Tech Stocks To Buy [Or Sell] Now: Tesla Inc.

Yes, I know what you are thinking. Tesla (TSLA Stock Report) isn’t exactly a tech stock. But you could say that it has been trading like a tech stock. Tesla has enjoyed an explosive growth of over 600% year-to-date. Besides electric vehicles, batteries, and solar technology, the company also develops autopilot and onboard software for its vehicles. Following its rally this year, Tesla is now the sixth most valuable company in the U.S. Now, the company is taking advantage of its high stock price by selling $5 billion worth of shares in an at-the-market offering. That will provide ample cash for the company’s expansion plans. 

top electric vehicle stocks to buy now (tsla stock)

News of the offering led to a decline in the company’s share price by 1.7% as of 10:15 a.m. ET. Could this drop present an opportunity to buy on the dip? The company has very strong financials and has been busy ramping up its production capacity so it could propel itself to new highs in 2021. In its latest quarter fiscal posted in October, the company posted total revenue of $8.77 billion, which is a 39% increase year-over-year. It also boasts a cash flow of $1.4 billion in this quarter. 

The company is increasingly focused on its next phase of growth. Tesla reports that its capacity expansion investments are now stabilizing with Model 3 in Shanghai achieving its designed production rate. Its Model Y in Fremont is also reaching capacity-level production. This is on top of record vehicle deliveries and a buildout of new factories in 3 continents. With such exciting developments, will TSLA stock be worth adding to your portfolio? 


Sign up for our FREE Newsletter and get:

  • Stock Alerts And Ideas
  • Learn to Trade Stocks & Options
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@stockmarket.com

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
You May Also Like

Best Stocks To Invest In 2021? 4 Dividend Stocks To Watch

Income investors are turning to high yield dividend stocks as interest rates remain low.