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With Tech Stocks Finally Getting Crushed, Is It Time To Buy These Top Tech Stocks?

Could the current tech stocks sell-off be a buying opportunity?

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.

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.

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.

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?

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.