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Top Stocks To Buy Now? 2 Tech Stocks For Your Late October 2023 Watchlist

Tech stocks to watch this month.

top stocks to buy now tech stocks

The tech sector stands out as a hub of innovation, drawing investors from all corners of the globe. It includes a broad spectrum of companies, ranging from software to hardware. This sector is vibrant, diverse, and vital to today’s economy. Tech giants like Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) have transformed our daily lives. They’ve also created profitable opportunities for investors.

Tech stocks offer both high rewards and notable challenges. The fast evolution of technology and market instability are the main challenges. These stocks can grow significantly, as seen with major industry players. Even startups have become tech powerhouses. However, the sector’s swift nature means companies must consistently innovate. They need to stay current to remain relevant, adding investment risk. This balance of potential gains and risks makes tech stocks an intriguing investment choice. They attract both experienced and novice investors.

Anyone looking to invest in tech stocks should adopt a strong strategy. It is essential to research thoroughly and understand market trends. Be ready for possible market fluctuations. Tech stocks can experience notable price changes. With the right research and a strategic approach, the tech sector offers chances for potential growth and profit. It is a fundamental part of numerous investment portfolios. Considering this, here are two mega-cap tech stocks to watch in the stock market this week.

Tech Stocks To Watch Right Now

Alphabet Inc. (GOOGL Stock)

To start, Alphabet Inc. (GOOGL) is a global technology company known primarily for its internet-related services and products. Alphabet is the parent company of Google and several former Google subsidiaries. Alphabet’s portfolio encompasses various industries, including technology, life sciences, and investment capital.

This week, Tuesday, Alphabet reported a beat on its third quarter 2023 financial results. Diving in, the company posted Q3 2023 earnings of $1.55 per share, with revenue of $76.69 billion for the quarter. For context, this is compared to analysts’ consensus estimates which were an EPS of $1.45, with revenue of $75.91 billion. Additionally, revenue increased by 11% versus the same period, the previous year.

In the last six months of trading, shares of GOOGL stock have increased by 21.64%. Moreover, during Wednesday’s early afternoon trading session, Alphabet stock is trading lower on the day so far by 8.98% at $126.34 a share.

Source: TD Ameritrade TOS

[Read More] 3 Defense Stocks For Your October 2023 Watchlist

Meta Platforms (META Stock)

Next, Meta Platforms Inc. (META), formerly known as Facebook Inc., is a technology company specializing in social media services and products. In detail, Meta is a global platform connecting billions of users across its suite of apps and services, including Facebook, Instagram, WhatsApp, and Oculus.

Earlier this month, Meta announced the date it will report its most recent third quarter 2023 earnings results. In detail, the company is set to report its Q3 2023 financial results, today Wednesday, October 25, 2023, after the U.S. stock market closes.

Continuing on, in the last six months of trading, shares of META stock are trading higher by 45.73%. Meanwhile, during Wednesday’s afternoon trading session, Meta Platforms stock is trading down on the day thus far by 3.23% at $302.47 a share.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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