Tech stocks are among the most popular stocks among investors over the past few years. After all, the tech industry is one of the largest industries in the stock market. In today’s world, every industry is trying to leverage technology to improve its efficiency and output. Just look at our daily lives, almost everything we do would utilize a certain type of technology. We could now go out cashless and not need to worry. People are starting to accept and adopt digital payment options as the new norm. Because, why not?
This has given life to companies such as Square (NYSE: SQ) and Paypal (NASDAQ: PYPL) that specialize in this field. With Square’s Cash App, anyone can invest in the stock market through their phone. Interested in bitcoin? You only need about 6 taps from your home screen to buy bitcoin or find out more about it. So, it really isn’t that surprising that SQ stock has almost doubled in value over the past year. Meanwhile, PYPL stock has also been trending upwards since the market crashed in March last year. Now that we have established how huge of a role tech influences our lives. Do you already have a list of some of the top tech stocks in the stock market now?Best Tech Stocks To Watch Today
- International Business Machines Corporation (NYSE: IBM)
- Snap Inc (NYSE: SNAP)
- Oracle Corporation (NYSE: ORCL)
- Intuit Inc (NASDAQ: INTU)
One of the trending tech companies today is International Business Machines (IBM). It operates through five segments, Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. As of today, IBM provides its clients in more than 170 countries with insights from their data to streamline business processes, reduce costs, and gain a competitive edge. IBM stock has risen over 12% since the start of the year.
As some of you may know, the company announced its second-quarter earnings report on Monday. The company’s revenue came in at $18.7 billion, up by 3% year-over-year. Out of which, total cloud revenue for the quarter was $7.0 billion, an increase of 13% from the prior year. We can see that the clients’ adoption of its hybrid cloud platform has contributed strongly to its improved overall growth. Also, the company remains on track to deliver full-year revenue growth and meet its cash flow objective.
Besides that, IBM is also bringing advanced data protection capabilities to the IBM FlashSystem family of all-flash arrays. It would help companies better plan for ransomware and other cyberattacks. The IBM Safeguarded Copy will automatically create data copies in “immutable snapshots” that are securely isolated within the system. So, if there are any data breaches, customers can recover their data from the snapshots. Given its strong fundamentals and its progressive nature, would IBM stock be on the top of your watchlist?Source: TD Ameritrade TOS
Read MoreSnap Inc
Following that, we have one of the most popular camera app companies, Snap. Its Snapchat app is very popular among millennials. With it, you could communicate through short videos and images via the camera application. Given that the company is slowly growing in popularity and has an actively growing user base, SNAP stock has climbed by over 150% over the past year.
A month ago, Snap along with Universal Music Group (UMG) announced an expansive multifaceted global agreement. In it, Snapchat users will be allowed to incorporate UMG’s catalog of recorded music and content into creative tools such as Sounds and augmented reality (AR) Lenses. It is always exciting when social media and entertainment companies come into a collaborative relationship. Fans can then creatively build communities around the artists and the music they love. With time, the possibilities of more innovative features will be limitless.
It has been a good year for the company thus far. During its first quarter, it boasted revenue of $770 million, up by 66% year-over-year. Another key figure would be its daily active users which grew by 22% to 280 million users. Now that the company is scheduled to release its second-quarter update on Thursday, would you expect it to keep up its growth trajectory? If so, would you add SNAP stock to your watchlist?Source: TD Ameritrade TOS Oracle Corporation
Oracle provides products and services that address enterprise information technology (IT) environments. The company’s businesses include cloud and license, hardware, and services. Using Oracle technologies, its customers build, deploy, run, manage and support their internal and external products, services, and business operations. ORCL stock has been bullish since the start of the year, showing gains of almost 40% within the period.
That said, the company is not resting on its laurels. Yesterday, the company announced that Thomson Reuters, a leading provider of business information services, turned to Oracle Cloud Infrastructure (OCI) as part of its multi-cloud strategy. In addition, it will build out the application on Oracle Autonomous Database to help simplify processes and elevate performance with a cloud-first solution.
Thomson Reuters ONESOURCE enterprise cloud solutions provide businesses and multinational organizations with a single, unified tax and trade engine that automates the ever-evolving tax landscape. Hence, this collaboration continues to expand upon its offerings to aid customers globally tackle the simplest to the most complex transactional tax calculations. With this exciting collaboration in mind, would you consider investing in ORCL stock?Source: TD Ameritrade TOS Intuit Inc
To sum up this list, we have Intuit. Essentially, it is a global tech platform that helps consumers, and the self-employed prosper by delivering financial management and compliance products and services. INTU stock is yet another tech stock that has been steadily growing over the past year. It has risen by more than 70% over the past year.
Just last week, Intuit QuickBooks introduced QuickBooks Card Reader, a new innovative payments device designed for small business owners. This will be integrated with QuickBooks Payments, which processes more than $65 billion in volume annually. With this latest fintech offering, it will help small businesses get paid faster, wherever they are. After all, it does seem like the shift to contactless payment options is permanent.
Not to mention, Intuit also announced the launch of the Intuit Prosperity Accelerator: AI last month. The new five-month program aims to leverage the power of artificial intelligence (AI) to advance the finances of consumers and businesses in North America. Thus, hoping to help startup participants unlock new strategies with AI to benefit their end-users. Given these exciting developments, would you say that INTU stock is a top tech stock to watch now?Source: TD Ameritrade TOS