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Are These 2 Top Tech Stocks A Buy In 2020?

Are these two top tech stocks on your 2020 watchlist?

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Are Investors Still Attracted To These Tech Stocks Amid High Valuations?

There are many great tech stocks to watch in the market at the moment. Despite the economic crisis, many tech stocks have had the ability to rise. The problem with tech stocks during the crisis was production and sales. Many factories had to close for a certain amount of time. While many factories are open again, it is still a problem. Sales became an issue for some top tech stocks as people are spending much less money.

But that doesn’t mean that all tech companies are struggling. We’ve seen tech companies like Amazon (AMZN Stock Report) and Apple (AAPL Stock Report) rise to new heights. So there are plenty of tech stocks with the potential to rise higher despite the state of the economy. There are always new tech stocks showing up in the market. This is because the tech sector is always making new advancements creating room for new companies to join.

Yes, some tech stocks are doing very well, but some are very close to recovering too. This is due to increased sales and demand over time. E-commerce and digital service-related tech stocks have been some of the biggest gainers. So let’s look at two tech stocks that are trending in the market.

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Top Tech Stocks To Buy [Or Sell] In 2020: NVIDIA

The first tech stock to watch is NVIDIA Corporation (NVDA Stock Report) because of its new record high. NVIDIA is a tech company that focuses on producing graphics cards (GPUs) for computers. It also produces other computer-related products but its GPUs are its best selling product. In 2018 alone NVIDIA brought in nearly $12 billion in revenue. The company was founded in 1993 and is based in California.

NVDA stock has seen a massive improvement since the market crash. Before the crash NVDA stock price was at $270 a share on average. Then NVDA stock fell to nearly under $200. As of July 16th, NVDA stock is at $407 a share on average. This is an increase of 50% from NVDA stock price before the stock market crash. This is an increase of 103% for NVDA stock from its recent low. These increases were great for investors of NVDA stock. From just June to July NVDA stock went up more than 12%.

These increases are due to NVIDIA’s ability to sell more GPUs. People are staying home more thus more people are building computers. NVIDIA is one of the largest GPU suppliers and a good GPU is required to build a fast computer. This is why NVDA stock price has been able to see the increases it’s seen. As NVIDIA grows to be a larger well-known tech company, NVDA stock has the potential to rise even more.

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Top Tech Stocks To Buy [Or Sell] In 2020: Advanced Micro Devices

The second tech stock to watch, Advanced Micro Devices Inc. (AMD Stock Report), is also a computer-related company. Advanced Micro Devices was founded in 1969 and has grown to be a large tech company since. AMD focuses on producing processors, motherboards, GPUs, and more. In 2019, AMD brought in $6.83 billion in revenue. AMD produces hardware for Xbox and PlayStation as well, including the upcoming PlayStation 5.

Just like NVDA stock, AMD stock fell after the market crash but quickly came back up. Before the economic crash, AMD stock price was at $54 a share. Then AMD stock fell to around $39 a share on average. That’s when in April, things picked back up for AMD stock price. On April 14th, AMD stock reached back up to $54 a share. And since this rise back up, AMD stock has rather steadily stayed between $50 and $54 a share. As of July 15th, AMD stock is at $54 a share on average. This rise back up is due to the same reason NVDA stock price rose up.

What Now

People are at home and building computers, thus buying more computer components. This means the possibility for these tech stocks to rise up even more exists. So AMD stock and NVDA stock are potential tech stocks to buy due to their rather fast recovery in the market. As technology continues to advance the products that these companies produce become more relevant. The companies sell products consistently because they are always improving their hardware. So the components you buy now may be obsolete in just a few years because of the rapid advancements being made. That is why these are two tech stocks to watch because they may rise even higher in the future.

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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