best tech stocks to buy right now

Are These Tech Stocks On Your Watchlist This Week?

Tech stocks have fueled the current bull market. After some remarkable gains over the past few months, it is not surprising that the stock market is prone to some remarkable losses. Despite the talks of high valuations and a tech bubble bursting, the underlying growth of the tech sector remains undisputed. Notwithstanding the temporary pullback, top tech stocks to watch are still expected to go higher.

Tech heavy Nasdaq Composite dropped 3.3% last week to 11,313.13. Essentially, Nasdaq gave back nearly half of its August gains. Although volatility like what we saw for the past week could be unnerving, investors should also bear in mind that the tech sector has been very resilient amid the coronavirus pandemic, at least for the past 5 months.

While the rally in tech stocks may not be over, Thursday’s market rout serves as a good reminder to investors that stocks can move in two directions. Of course, many investors still believe that the coronavirus crisis would amplify the dominance of tech companies, there’s a high chance that tech stocks could rebound strongly when the tech sell-off is over. That said, do you have these trillion-dollar tech stocks on your watchlist?

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Top Tech Stocks To Trade [Or Avoid] This Week: Amazon

Amazon (AMZN Stock Report) led the correction last week, with AMZN stock down 6%. Now that AMZN stock takes a breather, would it be worth adding to your list of top tech stocks to buy? Everyone knows e-commerce is booming amid the pandemic. After all, shoppers would rather stay home to avoid going to stores. U.S. e-commerce saw a 44.5% year over year growth in the second quarter. Globally, that number’s 71%. Chances are, some of the shift to e-commerce will stick around, so it’s not a one-time spike. Another similar stock that benefited immensely is Shopify (SHOP Stock Report). It skyrocketed to become the most valuable company in Canada.

best tech stocks to buy (AMZN stock)

Amazon is expanding its fulfillment network by 50% in terms of square footage. Furthermore. The annual Prime Day will be happening next month. The company continues to ramp up marketing efforts, which should drive sales. With these upcoming catalysts, would it be wise for investors to buy AMZN stock as they dip?

Top Tech Stocks To Trade [Or Avoid] This Week: Microsoft

Another trillion dollar tech stock to trade is Microsoft (MSFT Stock Report). We all know the large-cap tech stocks tumbled last week, with MSFT stock down around 7%. But bear in mind that this company is still reaping significant profits from its legacy software products. The ability to turn a one-off purchase to a subscription-based model for Microsoft Office services also provides a strong recurring revenue. On top of that, Microsoft sees huge growth in its Microsoft Azure cloud offerings.

best tech stocks to buy now (MSFT stock)

Besides its margins and the recurring nature of its revenue, Microsoft is possibly one of the most creditworthy companies in the world. It is one of the only two AAA-rated public companies, according to credit rating agency Standard & Poors. That suggests Microsoft has essentially no issues with its ability to pay its debt. In dollar terms, Microsoft pays out the most dividends every year in comparison to other American public companies. That said, when MSFT stock takes a breather, could this be a buying opportunity for investors?

[Read More] Are These The Best Electric Vehicle Stocks To Watch This Week?

Top Tech Stocks To Trade [Or Avoid] This Week: Netflix

When it comes to looking for the best video streaming stocks to buy, Netflix (NFLX Stock Report) tops the list for the same reasons as work from home stocks like Salesforce.com (CRM Stock Report). Many have expected Netflix to do well during the pandemic. The company grew global paid subscribers by 27% year over year last quarter to reach 193 million, a truly impressive feat.

top tech stocks to watch (NFLX stock)

Given its vast content and affordable pricing, Netflix should remain sticky for customers. It is only natural that with limited outdoor entertainment options, most consumers will turn to Netflix. If you have been eyeing this stock, would this be the perfect moment to jump in?


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