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8 Tech Industries You Need to Invest In Right Now

Technology is taking over the business world and companies that dont adapt will fall behind. Since many enterprises continue adopting different technologies, investing in tech stocks is becoming a lucrative venture.

The technology sector is filled with stocks that boast great fundamentals. The best tech stocks pride leading price-performance and several other strong fundamentals in their industry. To find the right stocks to invest in, you need to perform regular screening of high-quality stocks. And its easy.

Fishing in the right pond means targeting stocks that show resilience and hold near highs. In this article, you’ll find 8 of the best tech stocks to invest in.

  1. Match Group (MTCH)

The online dating giant has many properties, including several well-known apps, like Tinder, Match, Plenty of Fish and Hinge. With support for more than 40 languages globally, its platforms lead the growing online dating market.

Tinder, for example, is the most-downloaded dating app worldwide and top-grossing globally. In a recent quarter, the companys revenue rose 12% and shares are up this year. Thanks to the investors applauding the steady growth.

Match properties are built around people connecting in person. As people age, expect online dating to play a big role in intimate social connections and dating.

  1. Zoom Video Communications, Inc. (ZM)

Zoom Video Communications, Inc. is one of the best tech stocks to invest in. The companys stock has been a top performer in 2020 amid an increase of 500%.

With a market cap of $134 billion and about 100 times trailing sales, Zoom is one of the biggest newcomers to the large-cap list this year. Despite the hedge fund manager selling 1% of its stake in the latest quarter, the venture still accounts for 5.92% of the total portfolio. And with virtual meetings and events becoming a part of the new norms for society, it doesn’t seem to be going anywhere.

  1. Amazon (AMZN)

While some individuals think e-commerce is an area susceptible to slumps, Amazon.com belongs to its own league. The company has grown tremendously in the recent recession, as millions of people (unwilling or unable to purchase in-store) switched their buying to online.

The companys competitive pricing, fast delivery and broad market share make it very tough to compete with. Amazons cloud computing division, AWS (Amazon Web Services), is the leading provider in its rapidly growing, high-margin industry.

In the second quarter of 2020 (during the COVID-19 pandemic), AWS revenue rose 29%. Experts predict the businesss earnings to grow 36% annually, making Amazon among the best tech companies to invest in.

  1. Qualcomm Inc. (QCOM)

Qualcomm is a telecommunications and semiconductor equipment company.  The multinational company provides digital wireless communications products and services. Its also involved in the expansion of 5G technology.

A 2020 fiscal year report indicates the companys annual net income rose 18.5%, though the annual revenue declined by 3.1%.

  1. Netflix (NFLX)

Netflix is one of the biggest winners of the stay at home policies implemented in many countries worldwide. The streaming company saw a share price rally of 65% in 2020 and the hedge fund manager expects more upsides in the days ahead. The hedge fund recently increased its stake in Netflix by 1% to 1.4 million shares.

  1. Micro Devices Inc.

Advanced Micro Devices (AMD) is not a new name in the tech industry. The computer processor maker creates technologies for companies and consumer markets. The tech company shares are up by more than 80% year-to-date.

The companys third-quarter fiscal was much to investors delight. AMD reported revenue of 2.8 billion which is a 56% increase compared to the previous year. This growth is attributed to the higher earnings in its Enterprise, Computing and Graphics sections.

AMD also posted diluted earnings per share of $0.32 and a net income of $390 million. The company CEO recently announced its plan to extend AMDs leading product portfolio. The tech company plans to launch next-gen Radeon, Ryzen and EPYC processors.

The continued delivery of best-in-class products is part of its long-term growth strategy to grow its revenue. With all the exciting developments, you may want to include AMD in your list of best tech stocks to invest in.

  1. Twilio (TWLO)

If youre looking to increase customer engagement, then this powerful tool is worth checking out. Whether its a text indicating your food delivery is on the way or an appointment reminder call, Twilio can help you with that.

Twilio is the engine powering numerous software-driven digital communications people receive these days. It only takes a couple of hours for a developer to download the free trial and start generating value-added customer messages with info from a businesss legacy applications. Its the developer-focused approach that makes Twilio a powerful growth engine.

Twilio posted 52% year-over-year growth in its recent quarter. The growth is mostly attributed to a 21% increase in customers and a 137% dollar-based net expansion rate. The company expects to achieve at least 30% year-over-year expansion for the next four years.

  1. Cisco Systems (CSCO)

The data networking technology company supplies products related to switching, routing and other services. Cisco Systems basically provides lots of the infrastructure that helps make the internet possible.

Over the years, Cisco has increasingly adopted the recurring revenue model to help shield it during cyclic downturns in hardware costs. In a recent quarter, the company achieved its goal of deriving more than half its earnings from software and services.

Ciscos shift from hardware to high-margin software and services is predicted to continue growing. The company is one of the best tech investments because of its slow-but-steady nature, attractive 3.6 % dividend and reasonable valuation. This is definitely a giant to watch if you were interested in building a solid model for selling tech business.

Find Out About the Best Tech Stocks to Invest In 

The technology sector has recently become one of the biggest drivers of the stock market. As far as innovations continue to improve lives, tech stocks will continue to take over more of the investors and market portfolios.

Whether youre looking to invest in software development, streaming service providers, or gadget makers, etc., there are immense opportunities, and money, in investing early. Besides, the best tech stocks to invest in are moving fast and you can get in on the action.

 


Also published on Medium.

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