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Making A List Of The Best Tech Stocks To Buy This Upcoming Week? 3 Names To Watch

Could these tech stocks be on the rise with Pfizer’s FDA news?

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Are These The Best Tech Stocks To Buy Right Now?

What a year has it been for tech stocks in the stock market so far. These stocks were spared from the brunt of the global recession. Tech companies also benefited from the stay-at-home tailwinds that came with the coronavirus pandemic. Investors who stuck to tech stocks this year have seen astronomical returns to their investments. But some might wonder if the valuations of top tech stocks have gotten too high. Rest assured, many analysts believe that these stocks could still see strong future growth. For instance, the disparity in growth trends between industrial stocks and tech stocks like Facebook (FB Stock Report) and Amazon (AMZN Stock Report) has been evident in the last decade.

As the year is coming to an end, would top tech stocks to buy be able to carry this momentum into 2021? With strong fundamentals shown by the tech industry, investors would be at ease. People depend on tech more than ever these days. You are reading this article on a piece of tech after all. Chances are you own a PC and a smartphone that is manufactured by the tech industry. 

Yesterday, Pfizer’s (PFE Stock Report) coronavirus vaccine received an endorsement for the U.S. Food and Drug Administration (FDA) emergency authorization. How would this affect the top tech stocks that are in the stock market today? I would say that tech stocks will continue to grow as this pandemic has certainly shown us how much we depend on tech today. With such strong resilience from the industry, here are the top tech stocks to have in your portfolio.

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Best Tech Stocks To Buy [Or Sell] Before 2021: Advanced Micro Devices Inc.

Advanced Micro Devices (AMD Stock Report) is no newcomer to the tech industry. In fact, the company has had such an amazing 2020, few would believe that it was on the brink of bankruptcy just a mere 5 years ago. The tech company develops computer processors and related technologies for both business and consumer markets. AMD shares are up by over 80% year-to-date.

The company has released its latest graphics processing units (GPU), the Radeon RX 6000 series last month. The RX 6000 series promises a huge performance boost over its predecessor. It is also able to give its archrival Nvidia (NVDA Stock Report) a run for its money. The company has just posted its third-quarter fiscal in October, much to investors’ delight. AMD reported revenue of $2.8 billion, an increase of 56% compared to a year earlier. This growth is driven by higher revenue in its Enterprise, Computing, and Graphics segments. The company also posted a net income of $390 million and diluted earnings per share of $0.32. 

“We reported our fourth straight quarter with greater than 25 percent year-over-year revenue growth, highlighting our significant customer momentum. We are well-positioned to continue delivering best-in-class growth as we further extend our leadership product portfolio with the launches of our next-generation Ryzen, Radeon, and EPYC processors,” said Dr. Lisa Su, AMD president, and CEO. This plays well for the company’s long-term growth and AMD will be looking forward to the revenue it will get from its next-generation chips. With such exciting developments, will you consider adding AMD stock to your watchlist?

Best Tech Stocks To Buy [Or Sell] Before 2021: Apple Inc.

Following that, we have Apple (AAPL Stock Report). The tech giant is a household name that is known for its premium smartphones and computers. Understandably, it continues to show growth with its share prices up by over 10% since November. The company likely has Black Friday and Cyber Monday to thank for such a great month. Its ever-growing collection of devices continues to sweep the market. In fact, the company just released its first premium headphones this week. 

In its recent quarter fiscal posted in October, Apple set a new record for its company revenue. It posted a revenue of $64.7 billion for the quarter. In the breakdown, it reported international sales accounting for 59% of the quarter’s revenue. CEO Tim Cook commented, “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone line-up, has been tremendously positive.” These numbers would likely reassure investors, simply because the company continues to set new records even in these times.

Just yesterday, Bloomberg reported on an internal reveal from Apple’s chip chief. The revelation involves yet another chip transition for the company’s products. Basically, Apple is currently working on a replacement for the Qualcomm (QCOM Stock Report) chips found in its devices. This is right on the heels of its recent chip departure from Intel’s (INTC Stock Report) laptop chips earlier last month. Apple appears to be moving towards full control over its products in terms of components. In doing so, it frees up more valuable resources as the company can further streamline production and continue to thrive. Do you think these developments will help AAPL stock continue to soar in 2021?

[Read More] Making A List Of The Top Food Delivery Stocks In December? 3 Names To Watch

Best Tech Stocks To Buy [Or Sell] Before 2021: Jumia Technologies

Jumia Technologies (JMIA Stock Report) has been at the center of attention for all the right reasons. The company harnesses the power of technology to improve everyday life in Africa. More than 80,000 local African companies did business with Jumia in 2018. The company is essentially taking African economics online and enabling its sellers to reach more customers. Jumia’s shares are up by over 200% in the last month alone.

Fresh of its third-quarter fiscal in November, the company reported a gross profit of $28.14 million, which is a 22% increase compared to a year earlier. The company’s JumiaPay total payment volume increased by 50% year-over-year at $58.21 million. Jumia has over 1.2 billion consumers and 17 million SMEs all across Africa. It also boasts over 1 billion visits to its virtual marketplace in 2019 alone. Impressively, the company also has over 40 million products, restaurants, and other services listed on its platform.

The company recently opened its African logistics network to third parties in order to help add volume. This move will also help negotiate better pricing on shipping and control costs. Jumia also currently benefits from a reluctance of industry giants like Amazon and Alibaba (BABA Stock Report) to expand into the continent. With such promising growth, would JMIA stock be a top tech stock to watch?

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.