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Making A List Of Tech Stocks To Buy In January? 3 Names To Watch

Tech stocks could be on the rise again, should investors pay close attention to these three companies?

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Are These Top Tech Stocks On Your Watchlist This Week?

Tech stocks have no doubt played a pivotal role in shaping the stock market in recent years. These stocks have shown a resilience that not many industries can match. In fact, the Nasdaq Composite has shown one of its best years since 2009, with the tech sector leading the way. The reason why the top tech stocks outperformed many other sectors last year is simple. The demand for tech services, like cloud computing, software, and e-commerce soared throughout the pandemic last year. Even today, the demand for these services is still at an all-time high. 

Despite their high and somewhat unstable valuations that tech stocks are currently enjoying, are they still worth betting on in the stock market today? Today, we are still witnessing high unemployment rates and a raging pandemic that shows no signs of stopping. If anything, things are likely to drag on like this for the months to come. The conditions and prerequisites that allowed tech stocks to flourish, will no doubt continue to allow these stocks to do so. For instance, tech stocks like Zoom (NASDAQ: ZM) and Netflix (NASDAQ: NFLX) have enjoyed explosive growth as more people turned to these companies during the pandemic. 

With how technology has progressed so rapidly in the last few years, it is safe to say that the sector still has a lot of surprises just waiting to be unveiled. As tech continues to enhance the value and quality of our lives, it will continue to bring huge returns to investors. With that in mind, here is a list of the best tech stocks for you to consider this week.

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Best Tech Stocks To Buy Right Now

  1. Telos Corporation (NASDAQ: TLS)
  2. Cerence Inc. (NASDAQ: CRNC)
  3. BlackBerry Limited (NYSE: BB)

Telos Corporation

Telos is an information technology and cybersecurity company that is based in Virginia. The company is a leading provider of cyber, cloud, and enterprise security solutions to companies all around the world. It offers advanced technology solutions that empower and protect the world’s most security-conscious enterprises. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the U.S. Department of Defense.

The company has only gone public in November but has since almost doubled in share price with a 40% increase in the last month alone. This is certainly due to the overwhelming demand for cloud and cybersecurity services that companies now require to ensure business continuity. In the company’s latest financials posted in September last year, the company reported a revenue of $47.44 million, up by 4.19% year-over-year.

Earlier this month, the company had just announced the latest version of its next-generation cyber risk management platform, Xacta.io 1.5. Xacta.io 1.5 will offer full vulnerability and asset management support for Amazon’s (NASDAQ: AMZN) Amazon Web Services (AWS). “The latest release of Xacta.io provides customers with options to ingest data needed to automate asset inventory, vulnerability management, compliance validation, and continuous monitoring across AWS cloud resources,” said Richard Tracy, CSO, Telos. “These are critical functions of a comprehensive cyber risk and compliance management program for complex environments that span on-premises and cloud.” With that in mind, will this be enough for you to consider buying TLS stock?

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Cerence Inc.

Cerence is the world’s leading provider of automotive assistants. The company creates intelligent and intuitive in-car experiences for the world’s leading automakers. Cerence has worked with automotive titans like Ford (NYSE: F) and Volkswagen (OTCMKTS: VWAGY). The company’s share price has been up by over 15% year-to-date.

In the company’s fourth-quarter financials posted in November, Cerence reported revenue of $91 million and earnings per share of $0.61. A bulk of this revenue came from its licenses and connected services. The company boasts over 325 million cars on the road with Cerence tech. Cerence also established itself as a key player in conversation artificial intelligence (AI) for transportation and mobility. The company also has $1.8 billion in backlog, which creates high revenue visibility for the months ahead.

Last month, the company was selected to provide voice technology for a new version of Mercedes-Benz’s in-car-multimedia system. Dubbed the MBUX – Mercedes-Benz User Experience, it will utilize Cerence’s AI-driven technologies and is one of the most intelligent and personalized voice assistants on the road. The company also introduced Cerence Look last week. Cerence Look will enable drivers and passengers to interact with points of interest outside of the car. This will allow drivers and passengers to ask the automotive assistant for quick and useful information. This could certainly play well for the company as more people utilize its technology. All things considered, will you add CRNC stock to your portfolio?

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BlackBerry Limited

BlackBerry is a multinational company specializing in enterprise software and the internet of things (IoT). The company used to be famous for its brand of interactive pagers and smartphones but has since transitioned into software and IoT. BlackBerry has invested heavily in R&D and boasts over 38,000 patents. BlackBerry shares were up by over 25% in the last week. Investors may have been responding to a report published last week that the company had sold some of its patents to Huawei.

The company had posted its third-quarter fiscal last month, delivering solid financial results for the quarter. BlackBerry also reported sequential software and services revenue growth in line with its outlook. Total company revenue of $218 million for the quarter with a significant chunk of the revenue coming from its Software and Services segments. The company also announced that it will be partnering with AWS to create an intelligent automotive platform to analyze vehicle sensor data.

Could 2021 finally be the year the company returns to its former glory as a leading tech company? The transformation that has taken place over the last several years is slowly making its way towards fruition. The company has made a commendable number of acquisitions and has since assimilated them into BlackBerry’s product streams. By focusing on enterprise software and IoT, the company is certainly in the right direction. Would this revamp be enough for investors to buy BB stock?

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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