June
23, 2021
6 min read
This story originally appeared on StockMarket
Are These The Best Tech Stocks To Buy Before July 2021?
As most investors would know, tech stocks have not had the best year in the stock market in 2021. When you pair the current focus on potential interest rate hikes and the reopening trade, this would make sense. However, within the current weakness, some may find opportunity. After all, the tech industry is one of, if not the most versatile sectors around now. For the most part, if you can name an industry, chances are tech is involved in some manner. Because of all this, it would not surprise me to see investors eager to buy on the dip on top tech stocks.
For instance, we could look at the world of consumer finance. Despite the current state of the world, most people would still need to manage and handle their finances. This would be where financial tech (fintech) companies come into play. Within the current digital age, companies such as Upstart (NASDAQ: UPST) and Paysafe (NYSE: PSFE) provide vital services to consumers. On one hand, Upstart’s online lending platform would provide a convenient means of credit assessment for potential lenders. On the other hand, Paysafe’s digital payment solutions would facilitate the general adoption of contactless transactions.
By and large, this is but one instance of the growing need and relevance of tech in our world today. Notable trends in the industry now range from cybersecurity stocks to new frontiers such as quantum computing stocks. As you can see, there is plenty of activity in the tech world today, regardless of stock performance. With all that in mind, here are four tech stocks to note in the stock market today.
Top Tech Stocks To Buy [Or Sell] This Week
CrowdStrike Holdings Inc.
CrowdStrike is a cybersecurity company that is based in California. In essence, the company provides cloud workload and endpoint security along with threat intelligence, and cyberattack response services. Specifically, its Falcon platform protects customers against cyberattacks on endpoints on or off the network by offering protection and visibility across the enterprise. CRWD stock currently trades at $256.61 as of Tuesday’s close.
Investors seem to be responding to the news today on investment firm Stifel upgrading CrowdStrike to a buy rating and saying that the cybersecurity stock can rally more than 25%. Stifel analyst Brad Reback says that the company’s rapid growth does not show signs of slowing down anytime soon and could lead to a significant upside for its stock.
The analyst also raised the price target for CRWD stock from $240 to $300 per share. Stifel also sees a significant runway remaining in the new customer acquisition opportunity. After all, the company could still reach a subscription customer count of more than 100,000 over time. Given the excitement surrounding the company, will you consider buying CRWD stock?
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FuboTV Inc.
Fubo is a sports-first live TV streaming service that provides premium content, interactivity, and integrated wagering. The company focuses on its game-changing streaming platform that can transcend the industry’s current virtual MVPD model. It does this by leveraging its proprietary data and technology platform. The likes of which is optimized for live TV and sports viewership. FUBO stock currently trades at $31.72 and has been up by over 200% in the last year.
Today, the company announced that it is set to join the broad-market Russell 3000 Index after the 2021 Russell indexes annual reconstitution. This will be effective after the U.S. market opens on June 28, according to a preliminary list of additions posted on June 4.
“We are pleased with the interest fuboTV has received from the investor community in such a short period following our listing on the New York Stock Exchange last October,” said David Gandler, co-founder and CEO, fuboTV. “The addition of fuboTV to the Russell 3000® Index is an important milestone for the company as we stay laser-focused on defining a new category of interactive television while delivering significant shareholder value.” All things considered, will you add FUBO stock into your list of top tech stocks to buy?
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International Business Machines Corporation
IBM is a multinational technology company that is headquartered in New York. The company has operations in over 170 countries. It believes that in order to succeed with digital transformation, its approach starts with intelligent workflow. It does this by combining employee expertise and data with powerful technologies to help companies be more predictive, automated, agile, and transparent.
The company last week unveiled the first quantum computer in Germany that is capable of bending the laws of physics and computing to work. This would help boost the country’s efforts to stay in the race for what’s considered a key technology of the future. It will also provide fuel for economic growth as we live in this digitalized age.
In April, the company also reported stellar first-quarter financials. In it, IBM posted revenue of $17.7 billion, where total cloud revenue made up a chunk of that revenue, at $6.5 billion. The company said that the strong performance in cloud was driven by increasing client adoption of its hybrid cloud platform and growth in software and consulting. With that in mind, is IBM stock a buy?
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Microsoft Corporation
Topping off our list today is the Microsoft Corporation. Now, it goes without saying that the company would be a household name. Given its industry-leading Windows computer operating system to its wide array of consumer electronics, this would be the case. Throughout the pandemic, many consumers have and continue to rely heavily on Microsoft’s software and hardware offerings. As such, it would make sense then that tech investors would be eyeing MSFT stock. Now, the company’s shares currently trade at $265.51 a share as of Tuesday’s closing bell.
Evidently, Microsoft continues to ride pandemic-fueled tailwinds even now. For starters, the company is planning to showcase its “next-generation” Windows 11 update later this week. This comes just two weeks after fellow tech giant Apple (NASDAQ: AAPL) unveiled its upcoming iOS 15 operating system. According to Microsoft, the latest iteration of Windows will bring about “significant changes”.
Aside from that, internet security company Cloudflare (NYSE: NET) announced new integrations with Microsoft Azure earlier today. Ideally, this would further incentivize the use of its cloud computing services. Overall, Microsoft appears to be kicking into high gear this week. Would this make MSFT stock worth investing in for you now?