4 Tech Stocks To Check Out In The Stock Market Right Now
When it comes to tech stocks, investors are mostly spoilt for choice in the stock market today. For the most part, the tech sector is home to a wide array of companies that service a multitude of global industries now. Because of this, most investors would likely find a tech stock that suits their investment strategy. Now, as seasoned investors would know, 2020 was a banner year for tech stocks. After all, the industry has and continues to play a major role in allowing us to adapt to the pandemic. As such, it would not surprise me to see investors eyeing the top tech stocks in the stock market now.
For one thing, the tech industry is also one that is focused on growth. This is evident as even upcoming names in the field continue to grow and expand their services rapidly. As of last week, online advertising firm Marin Software (NASDAQ: MRIN) is now working with ad tech company Criteo (NASDAQ: CRTO). Through this partnership, joint customers can easily manage and optimize their marketing solutions and media campaigns via the MarinOne platform. Given the current reliance on digital advertising in the current age, the current move would serve to benefit both companies.
Elsewhere, even tech giants like Microsoft (NASDAQ: MSFT) are finding new ways to further refine their offerings. On Friday, the company revealed that it would loosen the system requirements needed to run its latest operating system, Windows 11. Ideally, this would allow more consumers and organizations alike to access its world-class software. Overall, these are but two instances highlighting the booming tech industry today. On that note, could one of these tech stocks be your next big investment?
Best Tech Stocks To Watch Right Now
- Amazon.com Inc. (NASDAQ: AMZN)
- Nvidia Corporation (NASDAQ: NVDA)
- Support.com Inc. (NASDAQ: SPRT)
- Zoom Video Communications (NASDAQ: ZM)
First, on this list, we have Amazon, a multinational tech company. Notably, the company owns one of the largest e-commerce businesses in the world. On top of its e-commerce platform, the company also offers a slew of tech services. Namely, this would include its Amazon Prime, a paid subscription that provides same-day delivery, streaming music, videos, e-books, and also grocery shopping services. Impressively, the company says that Prime now has over 200 million subscribers worldwide. AMZN stock currently trades at $3,440.67 apiece as of 2:31 p.m. ET.
The company has recently teamed up with Affirm Holdings (NASDAQ: AFRM). This would be Amazon’s first partnership with an installment payment player on the popular e-commerce site. This would allow Amazon to dive into the buy now, pay later space. Affirm’s buy now, pay later checkout option will be available to certain Amazon customers in the U.S. It will also have a broader rollout in the coming months. This partnership is the latest sign of the booming lending space as younger consumers move towards these alternative lines of credit. Given this exciting piece of news, will you consider AMZN stock a top watch right now?
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Nvidia Corporation is a tech company that has transformed computer graphics with the invention of the graphics processing unit (GPU). Today, its GPUs are used by millions all over the world especially in the gaming and data center markets. The company has also evolved the GPU into a computer brain for the virtual reality, high-performance computing, and artificial intelligence markets. NVDA stock currently trades at $227.37 as of 2:31 p.m. ET.
Last Friday, Reuters reported that Nvidia will seek EU antitrust approval for its $54 billion takeover of British chip designer Arm, early next month. Regulators will likely launch a full-scale investigation after a preliminary review. Nvidia announced the Arm deal last year and Arm has long been a neutral player licensing key intellectual property to customers like Qualcomm (NASDAQ: QCOM) and Apple (NASDAQ: AAPL). If approval is given, Nvidia could have the edge over its competitors. All things considered, will you add NVDA stock to your watchlist?
Support.com is a technical support company for businesses and consumers. In fact, the company is a leading provider of customer and tech support solutions and security software. It also has a global network of home-based experts. SPRT stock currently trades at $31.06 as of 2:32 p.m. ET and is up by over 45% on today’s opening bell. This could be a continuation of momentum as the company stock price has been up by over 150% in the last 5 trading sessions.
Retail traders began taking note of the company last month after noticing the company’s outstanding short interest accounts for about 60% of the float, a measure of the shares available for trading. This allowed the stock to become a target for retail traders to trigger a short squeeze, pushing the stock price up. The company is also scheduled to hold an extraordinary general meeting on September 10, regarding the proposed merger with Bitcoin miner Greenidge Generations Holdings Inc. With that in mind, will you consider SPRT stock a top tech stock to buy?
Zoom Video Communications
Another name to consider in the tech industry now would be Zoom Video Communications. For many tech investors, ZM stock was a go-to as teleconferencing became the new trend amidst the pandemic. All in all, Zoom exploded onto the scene with its video telephony and online chat services. The likes of which operate via its cloud-based peer-to-peer software platform. Fast forward to over 16 months later and investors could be turning their radars towards ZM stock again.
If anything, this would be the case today as Zoom is set to report its second-quarter fiscal after the closing bell. With ZM stock currently trading at $344.46 as of 2:32 p.m. ET, could it be worth watching?
Well, Morgan Stanley (NYSE: MS) equity analyst Meta Marshall seems to believe so. Marshall cites the continuation of work from home trends and “structural increase” in video call usage support longer-term growth for Zoom. Notably, consensus estimates suggest that the company could report earnings per share of $1.16 on revenue of $3.99 billion. To put things into perspective this would indicate possible year-over-year gains of 84% and 501% respectively. With all this in mind, will you be keeping an eye on ZM stock?