Are These Top Tech Stocks On Your Radar For July?
Tech stocks related to digital services have been on the rise. Stay at home orders means that technology that can be used at home is on the rise. Tech companies that focus on things like apps are on the rise. Tech companies related to things like computers, cell phones, and more are on the rise as well. This is why tech stocks like Apple (AAPL stock report) have been able to make a full recovery.
Tech stocks are always changing and evolving. One way tech stocks adapt is by new technology being created resulting in new tech companies. New tech companies can mean possible investments for stockholders. For example, electric car maker Nikola went public in the market and saw its stock price soar.
Many tech stocks were affected by the economic crisis though. This means it is a volatile time for tech companies. With reopening on the rise, companies are starting to see some profits return. The economy is still rebuilding itself so it is unsure what will happen to tech stocks. The two tech stocks to watch being discussed today have been interesting in the market.
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Top Tech Stocks To Watch Before July 2020: Snap Inc.
The first tech stock to watch, Snap Inc. (SNAP stock report) has been rising rather consistently for the last month. Snap is a social media company that owns Snapchat, Spectacles, and Bitmoji. The company was founded in 2011 and is headquartered in Santa Monica, California. Snapchat has grown to be one of the largest social media platforms in the world. Its Spectacles and Bitmoji products have become widely popular as well.
Snapchat’s user base is growing especially while we are stuck at home. The app continues to develop new features bringing in more people. Its increased amount of ads and implementation has made more profit for the company. This has caused an increase in SNAP stock price. Shares of SNAP stock started the 2020 year at $16 a share on average. When the pandemic arrived SNAP stock price dropped to lows of around $8 a share. Since this low, SNAP stock is at its 52 week high on June 25th. As of the 25th SNAP stock price is at $24 a share on average. The last time SNAP stock was near this price was in 2017.
Continued growth in user base will be great for SNAP stock price. If the company continues to implement its ads well it will see SNAP stock continue to rise to new heights. The current SNAP stock price is further proof that tech stocks can rise during dark economic times. Investors are curious to see how SNAP stock evolves as good reports continue to come from Snap Inc.
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Top Tech Stocks To Watch Before July 2020: T-Mobile
Tech stocks continue to hit record highs and T-Mobile US Inc. (TMUS stock report) is a perfect example. T-Mobile is a mobile communications company that has over 230 million subscribers worldwide. T-Mobile is the thirteenth largest mobile services provider in the world. It offers services in many countries and is a well known brand across the world.
On June 23rd TMUS stock fell 4.5% in share price. TMUS stock price went from $109 a share to $104 a share. Since this fall, TMUS stock has been rising back up. On June 24th the climb began and as of June 25th TMUS stock price is $111 a share. This means that TMUS stock has officially reached its 52 week high. This also means that TMUS stock has surpassed its all time record high. Mobile communications have become essential for most people in the world. So it is no surprise that the industry continues to grow over time. As more people make the switch to T-Mobile or buy its products, TMUS stock price will rise.
Even after the economic crisis, these two tech stocks have managed to make a comeback. TMUS stock and SNAP stock are great examples of thriving tech stocks in the market. As the world becomes more digitally connected tech stocks will continue to be valuable to investors. While some tech stocks can be volatile, solid financial reports and growth will normally drive share prices higher.