4 Tech Stocks To Watch In November 2021
When looking for the top tech stocks in the stock market right now, investors are spoilt for choices. It all depends on what you believe will be the dominant tech that would shape the future. Whether it is a cloud computing company such as Microsoft Corporation (NASDAQ: MSFT) or an electric vehicle company such as Tesla Inc (NASDAQ: TSLA), they all heavily rely on the intricacies of technology to improve their products and offerings. Given how reliant we are on technology today, it would be a safe assumption that this trend would likely continue.
As we cruise through the third-quarter earnings season, many of the tech stocks are reporting better-than-expected numbers. Smart investors who anticipated this would have benefited greatly. Take Silicon Laboratories (NASDAQ: SLAB) as an example. The company stock climbed over 20% in response to a strong third-quarter earnings report. It posted adjusted earnings per share of $0.34, far exceeding the expectations for $0.15. And there may be other companies with similar potential in the tech space today. With that in mind, do you have a list of the top tech stocks in the stock market today?
Best Tech Stocks To Watch Heading Into November 2021
- Intel Corporation (NASDAQ: INTC)
- NVIDIA Corporation (NASDAQ: NVDA)
- Wolfspeed Inc (NYSE: WOLF)
- Teradyne, Inc. (NASDAQ: TER)
Intel
Let us start the list with one of the top names in the tech space, Intel. Sure, it may have fallen off some investors’ radar over the years, but the fact remains that it is still one of the industry leaders. Since Pat Gelsinger became the CEO earlier this year, the company has been actively trying to regain its throne with plenty of exciting developments.
For instance, the company launched the first products in the 12th Gen Intel Core™ family on Thursday. This would include the Intel Core i9-12900K, the world’s best gaming processor. It has a new performance hybrid architecture that delivers leaps in multi-threaded performance while enabling up to two times faster creation compared to prior generations. Safe to say, the company will be delivering new levels of leadership performance for generations to come.
In addition, the company and Helbiz (NASDAQ: HLBZ) have strengthened their global partnership recently. Helbiz will expand the integration of its electric vehicles (EV) within Intel’s Moovit app. This means that Moovit users will have access to Helbiz’s suite of micro-mobility vehicles in more than 35 of its operating cities. All in all, it appears that the best is yet to come for Intel. So, would you add INTC stock to your watchlist today?
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NVIDIA
Nvidia is an American multinational tech company that specializes in graphics processing units (GPUs). For most parts, it caters to the gaming and professional markets, as well as system on chip units (SoCs) for the mobile computing and automotive markets. Impressively, NVDA stock has soared more than 90% since the start of the year.
Despite its success over the years, the company continues to innovate and push its boundaries. Just last week, the company announced its next-generation cloud gaming platform that will be available exclusively in a new, high-performance membership tier. The GeForce NOW RTX 3080 membership tier will provide gamers with access to the greatest-ever generational leap in GeForce history. How is this so? Well, it will deliver the highest resolutions and fastest frame rates, paired with the lowest latency.
It is a good time to be alive for gaming enthusiasts this year. We also saw the company announcing that Electronic Arts (NASDAQ: EA) will be bringing more of its hit games to the NVIDIA GeForce NOW™ cloud gaming service last month. It begins with Battlefield Revolution, Mirror’s Edge Catalyst, Unravel Two, Dragon Age: Inquisition, and Apex Legends. With this flurry of exciting developments, do you have NVDA stock as a top tech stock to watch now?
Wolfspeed
Another tech company making waves lately would be Wolfspeed. Essentially, the company offers silicon carbide technology and production. Its product families include power-switching devices and radiofrequency devices targeted for applications such as EVs, fast charging, 5G, renewable energy, and aerospace and defense. WOLF stock soared by more than 30% over the past week. So, let us see what the catalyst for this bullish hike was.
For starters, investors appear to be responding well to its fiscal 2022 first-quarter earnings report. It posted a revenue of $156.6 million, representing an increase of 36% year-over-year. This is the company’s fifth consecutive quarter of revenue growth that is driven by the rapidly expanding market for Silicon Carbide products. Wolfspeed expects this to continue in its second quarter as it set a target revenue in a range of $165 million to $175 million.
On top of that, Wolfspeed and the Biophysical Economics Institute announced recently the completion of a pioneering study that demonstrates the superior performance of Silicon Carbide against traditional semiconductor devices in EVs. It appears that Silicon Carbide used in the powertrain of an EV would deliver 13:1 energy savings. This amount of energy conservation would allow for longer range, and faster charging. Who knows, this new discovery could be a game-changer for the semiconductor industry. With that in mind, are you on the verge of jumping on the WOLF stock bandwagon?
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Teradyne
To sum up the list, we will be looking at Teradyne. This is a company that supplies automation equipment for test and industrial applications. Its business segments include Semiconductor Tests, System Tests, Industrial Automation, and Wireless Tests. TER stock is yet another in the industry that had a sudden jump due to a strong quarterly report. It has risen more than 25% over the past month.
On Wednesday, the company reported its third-quarter financial update. It posted revenue of $951 million, up 16% year-over-year. Meanwhile, its GAAP earnings per share grew 17% to $1.41. This shows that demand for its products remained strong in the third quarter as it delivered its eighth consecutive quarter of double-digit, year-over-year revenue and profit growth. These are encouraging figures that would draw the attention of prospective investors.
Earlier this month, LitePoint, a wholly-owned subsidiary of Teradyne announced a collaboration with Microchip Technology to deliver simplified design validation and turnkey manufacturing test solutions for the Internet of Things (IoT) systems. LitePoint will provide its IQfact+™ test automation software tailored for Microchip’s new WFI321E01 series of Wi-Fi MCU modules. This combination would provide its customers with the tools they need to meet their demand for increasingly complex products. All things considered, do you think TER stock will have more room for growth?
