4 Trending Tech Stocks To Watch Today
Whether you believe the return to normalcy is close at hand or far off, tech remains as relevant as ever. As such, it would then make sense that investors are also watching tech stocks closely in the
stock market
now. Indeed, all this is thanks to the tech industry’s focus on constant innovation and growth. Given the disruptive nature of tech, there would be no shortage of exciting developments in the industry for investors now.
On the telecommunications front, things appear to be heating up in the 5G space. Just last week, Verizon (
NYSE: VZ
) CEO Hans Vestberg reported an uptick in overall 5G traffic on its networks. This would indicate that more consumers have adopted the next-gen wireless tech throughout the pandemic. With the current upgrade cycle in consumer tech being accelerated, companies would be incentivized to bring their best work forward. Elsewhere, tech giants such as Microsoft (
NASDAQ: MSFT
) have been on a roll as well. From the release of its latest operating system update to its cloud division fueling third-quarter results, this seems to be the case. To maintain this momentum, Microsoft is reportedly giving out $1,500 bonuses to its employees who have persevered throughout the pandemic.
Overall,
tech stocks
appear to be catching up to the broader stock market after experiencing several major sell-offs. We can see this as the tech-laden Nasdaq composite is already up by over 15% year-to-date. In comparison, the
S&P 500
is looking at gains of 18% over the same period. Having read all this, you might be keen on tech stocks yourself. In that case, here are four to watch in the
stock market today
.
Best Tech Stocks To Buy [Or Sell] This Week
-
Facebook Inc.
(
NASDAQ: FB
) -
Square Inc.
(
NYSE: SQ
) -
Apple Inc.
(
NASDAQ: AAPL
) -
BlackBerry Ltd.
(
NYSE: BB
)
Facebook Inc.
Facebook is a multinational tech company that is based in California. The company focuses on its social media application that is used by billions to connect with friends and family, find communities, and grow businesses. Impressively, more than 200 million businesses use the company’s app to do business. It has over 80 offices in cities worldwide and 17 data centers globally. FB stock currently trades at $353.05 as of 1:52 p.m. ET. Recently, the company was given a price target increase from $385 to $410 by Argus.
Argus analyst Joseph Bonner maintains his buy rating on the company shares. The analyst notes that Facebook has continued strength in e-commerce advertising. This would ultimately drive the company’s stellar financial results in the months to come. He also cited the company’s recent partial victory over the U.S. Federal Trade Commission (FTC). A federal court dismissed the FTC’s antitrust complaint against Facebook in late June. In the filing, the court states that the FTC did not prove that Facebook maintains a monopoly. Could the worst be over for Facebook from a regulatory perspective? Given this piece of news, will you consider FB stock a top tech stock to consider buying?
Read More
Square Inc.
Square is a tech company that provides a cohesive commerce ecosystem. Its platform helps sellers start, run, and grow their businesses by combining sophisticated software with affordable hardware. This, in essence, would allow sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. SQ stock currently trades at $243.42 as of 1:52 p.m. ET. Last week, the company reported that it will be building a hardware wallet and service to make
bitcoin
custody more mainstream.
In May, the company announced its first-quarter financial results. Firstly, it achieved a gross profit of $964 million, a 79% increase year-over-year. Its Seller ecosystem generated $468 million, up by 32% year-over-year while its Cash App generated a gross profit of $495 million, up by 171% compared to a year earlier. The company also says that its customers have found increased value and convenience with the Cash Card and it has more than 10 million monthly active Cash Card users. It also continues to enhance its ecosystem of products by building on its omnichannel capabilities by launching Square Messages. It is a new feature that helps sellers interact with their buyers more effectively through text messages or email. With so many exciting developments surrounding Square, is SQ stock worth buying right now?
[Read More]
Best Cyclical Stocks To Invest In Now? 5 Names To Know
Apple Inc.
Next on this list is Apple, a tech titan that specializes in consumer electronics, software, and online services. It is one of the largest tech companies in the world by revenue and has also been one of the most valuable. The company has over 100,000 employees that are dedicated to making premium and game-changing products. AAPL stock currently trades at $144.24 as of 1:53 p.m. ET and has been up by over 50% in the last year.
In its latest quarter reporting in April, it posted a record revenue at $89.6 billion, up by 54% year-over-year. Apple also posted quarterly earnings per diluted share of $1.40. Unsurprisingly, international sales accounted for 67% of this quarter’s revenue. This includes record revenue in each of its geographic segments and strong double-digit growth in each of its product categories, driving its installed base of active devices to an all-time high. All things considered, will you buy AAPL stock?
[Read More]
Up And Coming Stocks To Buy Right Now? 3 Retail Stocks In Focus
BlackBerry Ltd.
Topping off our list today is software company BlackBerry Ltd. Sure, while the company’s smartphone developing days are behind it, BlackBerry is making waves in the tech world, nonetheless. In brief, it is now pivoting towards cybersecurity services. The likes of which consist of enterprise-critical event management, endpoint protection, and artificial intelligent-based digital security. Meanwhile, BB stock is also in the spotlight as it is among the ranks of the top Reddit stocks now. The company’s shares are currently trading at $11.26 as of 1:53 p.m. ET. With year-to-date gains of over 70%, could BB stock have more room to run moving forward?
While this remains to be seen, CEO John Chen provided a rather clear update on what BlackBerry is doing in its recent quarter fiscal. Late in June, the company reported total revenue of $174 million and ended the quarter with $339 million in cash on hand. Chen cited strong progress in BlackBerry’s auto business as a key driver for growth now despite global chip shortage headwinds. Moreover, he also noted that the company continues to focus on key opportunities in the Internet-of-Things and cybersecurity markets. Time will tell if BlackBerry can make the most of its ambitious plans. In the meantime, would you consider investing in BB stock?
