- Technology stocks to buy now update#
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With its $11 billion market cap, it’s certainly the smallest of the group. Of all the stocks on this list, Five9 is likely the least well-known of the bunch. Shares closed higher by almost 8% after it reported, but it has since got caught up in the growth-stock selloff and given up all of those gains (plus a bit more). It’s firmly set to ride the wave of streaming video both domestically and internationally, and that’s exactly what it will do in the long term.įive9 is one of the few other growth stocks that actually rallied after it reported earnings. It’s also generating a slice of the “content pie” when customers sign up for other services through its platform.
Technology stocks to buy now free#
The company is increasingly pivoting toward content, while using its free streaming channel to drive ad revenue. Investors who still think Roku is “just a streaming stick” haven’t been paying attention. Regardless, there’s incredible momentum in the streaming content business. Seeing sellers step in that day is not too surprising, given the pain we’ve seen in this group.Įven in Roku’s case, shares are 34% off the highs and this is considered a high-quality growth holding. Roku stock actually rallied on earnings, climbing 11.5% on the day and up 18.7% at one point in the session. Despite incredible results, most of these companies were hammered after the print. We can debate the morals of Facebook until the sun goes down, but the reality is that the stock isn’t going anywhere but up over time.Īnalysts expect another strong year in 2021, with revenue growth of 35% and earnings growth of 30%.įacebook was the one FAANG stock to really rally on earnings, but in the growth world, investors were lucky if their holdings stayed flat after earnings, let alone rallied.
In any regard, the death of Facebook and social media has been greatly exaggerated, if not completely fabricated. Revenue of $26.2 billion grew almost 50% year over year and beat expectations by nearly $2.5 billion.
Technology stocks to buy now full#
Earnings of $3.30 per share beat expectations by almost a full $1.00 per share. It was the one component that was able to generate a notable post-earnings gain, up 7.3% the day after it reported, (Alphabet climbed about 3%).įacebook deserved to rally, though. In fact, almost all of the FAANG components sold off after earnings, with the exception of Facebook. Even on stellar results - and I mean blowout, incredible results - companies like Apple (NASDAQ: AAPL) have seen their stock prices slip after earnings. One characteristic we’ve seen this earnings season? The lack of upside rallies. Despite its lofty valuation, look for Shopify to remain an internet staple for years to come.
If it ends up being a win for Google, it will most definitely be a win for Shopify.Įither way though, this company has completely altered the way e-commerce operates. Google is deepening its partnership with Shopify and hopes to drive more revenue from the e-commerce world. Strong earnings haven’t been able to break it out of this consolidation, nor has a partnership with Google. However, shares are now 22% off the highs, while Shopify has been consolidating for several quarters. Shares ran from roughly $300 to almost $1,500, good for a near-400% gain.
Technology stocks to buy now update#
In the end, it was actually a great update and it ended up kickstarting a monstrous rally in the stock price. Shares cratered lower in response, but hey, what did investors know? It was a volatile time and it was tough to tell left from right. Early in the pandemic, Shopify provided a business update and Wall Street didn’t like it. That has been a long-term growth trend for years and the coronavirus pandemic only accelerated it. One of the hottest trends in tech is e-commerce. Let’s look at seven tech stocks enjoying hot trends in the Nasdaq right now:
Technology stocks to buy now plus#
On the plus side, that gives long-term investors an opportunity to accumulate their positions. Despite strong secular trends, many of these names are in or near bear market territory. Unfortunately, we’ve seen a big dip in many growth stocks lately. It’s why these stocks tend to command higher valuations and have now garnered some of the largest market capitalizations in the world. That doesn’t mean they always come with a low valuation - it’s not that easy - but we can still find opportunities in this space.Īfter all, it’s tech that often has the largest tangible addressable markets, best margins and largest opportunities. However, finding high-quality tech stocks can lead to a huge win, both in the short-term and the long-term depending on the investor. Those are the ones that pay the real price when a bear market comes along. There are plenty of low-quality, high-valuation stocks that don’t deserve to be trading at their current prices. In some cases though, that can lead investors down the wrong path. Investors are always looking for the next best tech stocks to buy.
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