Search a ticker

Categories
Featured Investing Stocks to Watch Tech Stocks

Top Tech Stocks To Buy Now According To Analysts?

Here comes the busiest and most critical weeks for top tech stocks in the market.

top tech stocks to buy

Top Tech Stocks Are Releasing Their Earnings This Week

Tech stocks were under pressure last week, leading to a sell-off that dragged the Nasdaq Composite lower. After most top tech stocks seeing a strong rally for months, it is expected that they will take a breather and fall back occasionally. And when that happens, we often see mutual funds and other big institutional players come into space and scoop up some shares.

You know it, the top tech stocks turbulence won’t be here for a long time, and therein lies this week’s opportunity. Tech stocks, especially the mega-caps, are usually still attractive during bullish markets. In the face of the coronavirus pandemic, we are still seeing strong performance in tech. The resilience shown thus far is showing the technology sector is equipped with strong fundamentals. Buying in the dips has been infallible. This couldn’t possibly go far off as the world shifts towards more digitization. That said, are these the top tech stocks to buy during the dips?

Read More

Top Tech Stocks To Buy In July [Or Avoid]: Facebook

First, up the list, Facebook (FB Stock Report) is set to report its earnings on July 29. The social media giant could witness a jump in their usage of various platforms amid the pandemic. As you may have noticed, the ad-boycott by more than 400 companies towards Facebook last month was worth the attention of potential investors. From the ad-boycott, investors should brace themselves for a hit from the lower ad-sales, which could significantly hurt the company’s earnings.

Amongst other sectors, the travel and automotive industries are likely to report lower ad spending as these sectors show no signs of recovery just yet. FB stocks are trading 10% higher year to date and trading at $230 per share on last week’s closing.

Top Tech Stocks To Buy In July [Or Avoid]: Shopify

Shopify Inc. (SHOP Stock Report) will report its second-quarter earnings on July 29 too. One thing to note from the report is the gains from the introduction of contactless payment hardware for Canadian retailers using the new point of sales (POS) system. The newly launched system is expected to integrate online and in-person sales to aid merchants to keep their business afloat.

Of course, the shift towards digital space has accelerated during the pandemic. It’s safe to assume that it would have contributed significantly to top-line growth and increased user base in the second-quarter performance. The acceleration in digital shops has sent SHOP stocks soaring more than 120% year to date. The stock traded at $930 on Friday’s close.

[Read More] Netflix Or Roku: Which Is A Better Tech Stock?

Top Tech Stocks To Buy In July [Or Avoid]: Spotify

The largest music-streaming provider Spotify (SPOT Stock Report) is also releasing the second-quarter earnings on Wednesday. The main growth driver of Spotify seems to be its singular focus on music streaming. But the company has recently added podcasts to increase their offerings to stay at the leading spot. Of course, the addition of podcasts is unlikely to bring huge profits to the company anytime soon. We know podcasts could be big, but many think that it will be huge in the long run.

So, offering such a service could provide a competitive advantage as the company moves forward. In the event podcasts really do reach their full potential, Spotify will benefit immensely. That’s because the more users the company can attract, the more users will listen to Spotify-owned podcasts, and their accompanying ads. SPOT stock rallied more than 70% year to date and last traded at $268 per share.

[Read More] Are These 2 Top Tech Stocks A Buy In 2020?

Top Tech Stocks To Buy In July [Or Avoid]: Apple

Apple (AAPL Stock Report) no longer looks to its iPhone device sales as its main growth driver. The company is reporting the second-quarter earnings on July 30. As you may already know, the company is shifting towards wearables and services. Yes, Apple may no longer emphasize on its iPhone sales, but that doesn’t mean the device isn’t integral to its long-term business strategy. The company’s hardware products are the best ways for consumers to tap into the growing ecosystem.

AAPL stocks slid last week after the company delayed its iPhone launch to October. Even though Apple’s iPhones may no longer be in their prime, the upside potential from the services, wearables, and 5G is still very significant. AAPL stock has climbed 20% this year and last traded at $370. Even at such a price tag, analysts are still bullish and some even gave it a $500 price target.

Top Tech Stocks To Buy In July [Or Avoid]: Amazon

Of course, no list of top tech stocks is complete without Amazon (AMZN Stock Report). The largest e-commerce company is slated to report its earnings on July 30. Amazon has been quite successful in capitalizing on its e-commerce dominance to secure more than 150 million Prime members worldwide. With the coronavirus pandemic, e-commerce has seen a huge uptick in demand, which then explains Amazon’s meteoric rise this year. But it’s not e-commerce that’s going to be the major growth driver.

Rather it’s the cloud segment Amazon Web Services (AWS) which is likely to do most of the heavy lifting in the future. AMZN stock has climbed more than 50% this year and could grow even further in the long term. The question here is, would you buy AMZN stocks during the dips

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.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments