Do Investors Have These 2 Top Tech Stocks On Their List Of Stocks To Watch In August 2020?
Tech stocks have been in a bit of a volatile position in recent times. The problem is that the coronavirus pandemic had a large effect on most industries. The tech industry was effected in many good and bad ways because of this. The top tech stocks that are related to digital services have tended to be on the rise. Tech stocks related to things that are physical have been trending downwards.
How are you supposed to know the best tech stocks to watch? Well if you watch the news in the sector it can definitely help with this. As said before digital service tech stocks have been on the rise. Things like e-commerce, cloud services, and more have been some of the biggest gainers in regards to tech stocks. There are many great tech stocks to watch during the pandemic.
With so many tech stocks to choose from it can be overwhelming. That’s why this list is capped at two tech stocks to watch in the market. If the world reopens more it could open the doors for many more tech stocks to rise. With that being said let’s have a look at these two tech stocks and see why they are trending in the market at the moment.
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Top Tech Stocks To Watch In August 2020: Advanced Micro Devices
The first tech stock to watch on this list is Advanced Micro Devices (AMD Stock Report). Advanced Micro Devices creates processors, motherboards, graphics cards, and much more for computers. AMD received more than $6.8 billion in revenue in 2019 alone. In addition to these ventures, AMD lends hardware to popular home entertainment consoles such as the PlayStation and the Xbox. Its primary competitor in the computer industry is Intel, who we will talk about after.
AMD stock crashed hard when the market fell in February to March. Before the economic crisis began AMD stock price was around $54 a share on average. At AMD stock low point in March it fell to $39 a share. But in April, AMD stock price began to rise back up in the market. As of July 27th, AMD stock is at $69 a share on average. This is an increase of more than 76% from AMD stock price low in just a few months.
While people are at home, they are on their computers more than ever. This means many people are upgrading their computers and using parts from Advanced Micro Devices. That give AMD stock the potential to rise even higher if sales can stay consistent. AMD stock price is already higher than it was before the pandemic. So if things can continue improving for this tech company, it will mean good news for investors.
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Top Tech Stocks To Watch In August 2020: Intel
The second tech stock to watch on this list is Intel Corporation (INTC Stock Report). Intel Corporation primarily produces processors for computers. The company is the largest and highest valued semiconductor chip manufacturer in the world based on revenue. Intel was ranked number 46 on the Fortune 500 back in 2018. Intel produces processors for many types of computers. This includes brands like Apple (AAPL Stock Report), HP (HPE Stock Report), Dell (DELL Stock Report), and more. Intel also produces other types of computing pieces such as motherboards, graphics chips, and more.
On July 27th, INTC stock price fell 16.66% a share. There is a few factors contributing to the fall of INTC stock. Intel released a second quarter earnings report that was negative and its chips were behind manufacturing schedule. Intel additionally placed a massive order with TSMC for chips, showing that it is outsourcing for some production. INTC stock price was close to recovery at $60 before this 16.66% drop on July 27th. So why is this tech stock being highlighted if it is down? Well, this could potentially be the perfect time to invest in INTC stock. Since it is at a low point, if a good news report comes out then INTC stock price could rise once again.
What Now
That is why AMD stock and INTC stock are two potential tech stocks to buy. They are competitors in the computer industry. So when one of these tech stocks rises it is possible for the other one to fall. AMD stock price benefitted from INTC stock dropping. It is always interesting to see which tech stock will be the next one to rise up in the market.
