Are These Top Tech Stocks On Your Watchlist This Week?
Tech stocks have been the most interesting space to watch this year. Investors are drawn into the technology industry. That’s because of their bigger growth potential in an era of increasing digitization, automation, and artificial intelligence. As you may have noticed, the overall tech industry has proven sturdy. And this is despite the extreme challenges created by the coronavirus pandemic. Not only were they able to hold steady, but top tech stocks, in general, have had their best quarter since the dotcom bubble.
The resilience of tech stocks shouldn’t come as a surprise amid the stay-at-home measures. A sudden and unexpected surge in various niches, especially in SaaS and internet usage for both personal and professional capacities has led the tech-centric index Nasdaq-100 to outperform the Dow and S&P 500. If you were one of the lucky investors who jumped on the train when the market crashed back in March, congratulations.
Looking for the best tech stocks to buy amid the current healthcare crisis? Why not start with companies that would do well amid the current pandemic, and would do just as well even after the pandemic? Perhaps, investors could start looking at “essentials” among tech companies. Essentially, most tech stocks have the potential to rally in the stock market today, in my opinion, at least. Some tech stocks have the tendency to be quite volatile just before they report their earnings. With that in mind, are the following tech stocks on your watchlist this week as they will be releasing their second-quarter earnings?
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Top Tech Stocks To Buy During Earnings Week [Or Avoid]: AT&T
I know, some of you consider AT&T (T Stock Report) to be a communications stock rather than a tech stock. But let’s put that aside for now. AT&T will release its second-quarter earnings on Thursday before the opening bells. Investors have been anxiously waiting in the run-up to the earning’s date. From the report, investors could gauge the various challenges faced by different parts of the communications and media conglomerate due to the coronavirus pandemic. More specifically, it would provide an update on the 5G rollout development. Investors can also see how the HBO Max streaming service fared after the recent launch.
More importantly with AT&T could be the ability to maintain its dividend payment this quarter. Of course, should things go well, investors will be rewarded with capital appreciation in the short-term. But we all know investors are investing in T stock because of the high dividend yields, but not the massive price swings like other tech stocks.
T Stock To Benefit Greatly From The 5G Rollout
One of the main reasons investors should be optimistic about T stocks is that the company is in the midst of rolling out their 5G network. As more cities and countries roll out this highly anticipated technology, could T stocks be positioned to have another breakout? By now, most of us should have heard about the capabilities of 5G and how we can benefit immensely from the technology. For this reason, there could be major tailwinds as users can’t wait to enjoy the high-speed connection 5G entails.
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Top Tech Stocks To Buy During Earnings Week [Or Avoid]: Intel
Intel (INTC Stock Report) is set to release second-quarter results this coming Thursday too. The company should see great benefits from its data-center business and the growing adoption of cloud-based solutions amid the coronavirus-induced work-from-home order. There’s a reason to be optimistic about INTC stock during the second quarter. An analyst pointed to solid PC demand in the second quarter this year, which could be one of the catalysts for INTC stock.
Intel To Benefit From Strong PC Demand & Cloud Segment
According to Gartner, global PC shipments reported a 2.8% increase in shipments compared to the prior-year period. And Intel dominates the market for PC chips. For this reason, some investors are bullish in the run-up to the earnings announcement. Many analysts are giving INTC stock a price target of $70 per share. That’s a 14% potential upside from its current valuation.
As for Intel’s cloud segment, the business comprises the Data Center Group (DCG) and Internet of Things (IoT). The rise in demand for cloud service providers and the strength in high-performance second-generation Xeon Scalable processors are also areas to focus on from the earnings report. We know much of the global economy is in a recession and the insidious virus is nowhere near under control. As such, could the data center business bring INTC stock to a greater height?
