The technology sector is a driving force behind many of the advancements that are shaping the world today. With innovations like machine learning, big data, and the internet of things, tech companies are playing a key role in transforming industries. This ranges from healthcare to finance to transportation. As such, the tech sector has become a key focus for investors looking to capitalize on the latest trends and emerging opportunities.
Investing in tech stocks can be an effective way to gain exposure to the technology sector. Tech stocks have historically outperformed the broader market, and many investors see the sector as a key growth opportunity. However, investing in tech stocks can also be risky, as the sector is prone to rapid changes in market sentiment and can be subject to significant volatility. Investors should carefully consider their investment objectives and risk tolerance before buying tech stocks, and be prepared to monitor their investments closely to ensure they are well-positioned to take advantage of new opportunities as they arise.
Despite the risks, there are many reasons to consider investing in tech stocks. Tech companies have historically been able to grow quickly and generate significant returns for their investors. Additionally, many tech companies have strong balance sheets and cash positions. This can help them weather economic downturns or other challenges. Ultimately, investors who are able to identify promising tech stocks and carefully manage their investments can potentially reap significant rewards in the long term. With that, let’s look at two tech stocks to watch in the stock market today.
Tech Stocks To Watch Today
Docusign (DOCU Stock)
Firstly, DocuSign Inc. (DOCU) is a leading provider of e-signature and digital transaction management services. The company’s platform enables businesses to sign and manage digital documents securely and efficiently, eliminating the need for physical signatures and paper-based processes.
Today, Thursday, Docusign announced a beat for its 4th quarter 2023 earnings results. Diving in, the company reported earnings of $0.65 per share, on revenue of $659.6 million. This is versus Wall Street’s consensus estimates for the quarter that was earnings of $0.52 per share, along with revenue of $632.8 million. Additionally, DocuSign said it estimates first-quarter revenue between $639.0 million to $643.0 million.
In 2023 so far, shares of DOCU stock have jumped by 13.50% year-to-date. Following this news, DOCU Stock dropped in after-hours trading session by 5.45% at $64.41 per share.
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Salesforce (CRM Stock)
Next, Salesforce Inc. (CRM) is a leading provider of cloud-based customer relationship management (CRM) software. The company’s platform enables businesses to manage customer interactions, sales, and marketing activities, among other functions.
Earlier this month, Salesforce launched Einstein GPT, a generative AI CRM technology that will enable the creation of AI-generated content across sales, service, marketing, commerce, and IT interactions at hyper-scale. The new technology uses a combination of Salesforce’s proprietary AI models, generative AI technology from an ecosystem of partners, and real-time data from the Salesforce Data Cloud. This will allow businesses to create personalized content that adapts to each customer’s changing needs in real-time using natural language prompts directly within the Salesforce CRM.
Year-to-date, CRM stock has jumped by 32.60% so far in 2023. Meanwhile, as of Thursday’s closing bell, shares of CRM stock dropped by 2.30% to $178.72 per share.