Do You Have These Tech Stocks On Your 2022 Watchlist?
Tech stocks have been a popular theme among investors in the stock market over the past few years. Now, the Federal Reserve recently announced that it would accelerate the taper of its bond purchases and forecast as many as three interest rate hikes next year. This is traditionally not great news for high-growth tech stocks but some will perform regardless of the situation. After all, the industry would likely continue to thrive as most innovations today would leverage technology. From cloud computing to blockchain and the metaverse, there is no shortage of new innovations in the technology space.
So, it should not come as a surprise that investors are always keeping a close eye on tech stocks. This week, Bloomberg reported that tech giant Apple (NASDAQ: AAPL) is working to design more chip components in-house. The idea is to establish a new office to replace components that it sources from Broadcom (NASDAQ: AVGO) and Skyworks (NASDAQ: SWKS). Should this be a success, it could help the company alleviate some of the chip shortage issues in the future. With all said and done, do you believe the industry will continue to grow? If you share the sentiment, do you have this list of top tech stocks to watch in the stock market before the new year?
Best Tech Stocks To Watch Right Now
- Oracle Corporation (NYSE: ORCL)
- Microsoft Corporation (NASDAQ: MSFT)
- International Business Machines Corporation (NYSE: IBM)
- Tencent Holdings Ltd (OTCMKTS: TCEHY)
Oracle
First, we have the tech giant that specializes in enterprise information technology, Oracle. Its business primarily involves cloud and license, hardware, and services. Leveraging Oracle technologies, its customers build, deploy, manage and support their internal and external products and services. ORCL stock has been on a strong bullish momentum this year, rising more than 50% over the past year.
This past week, the Wall Street Journal reported that Oracle is in talks to buy electronic medical records company Cerner (NASDAQ: CERN). The deal is potentially valued at $30 billion. Should it materialize, the transaction would bring Oracle a raft of health data to train and improve its artificial intelligence-based cloud services. Hence, boosting its presence in the health care sector. Furthermore, this would be the biggest ever deal for Oracle as a company.
It is also noteworthy that Oracle recently announced the opening of its first cloud region in the Nordics and Italy. It will support the increasing cloud computing demand from private and public sector organizations. By providing customers and partners access to Oracle Cloud services, it will enable them to rapidly scale their digital operations. Given these exciting developments, would it be the right time to jump on the ORCL stock bandwagon?
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Microsoft
Another top tech stock to note would be Microsoft. Most people would be no stranger to what the company has to offer. Essentially, the company develops and supports a range of software, services, and solutions. Most personal computers today run on the company’s operating system, Microsoft Windows. Well, MSFT stock is yet another tech stock that showed resilience despite the volatility in the stock market this year. MSFT stock has risen over 40% since the start of the year.
Earlier this month, Microsoft and CVS Health (NYSE: CVS) announced a new strategic alliance. The collaboration will focus on developing innovative solutions to help consumers improve their health. CVS recognizes the need to focus on a technology-forward approach in the company’s solutions. Hence, this is where Microsoft comes into the picture as it will help CVS accelerate this work and empower its employees to provide higher quality care.
Moreover, the company is not showing any signs of complacency. Microsoft is ramping up its effort to build products that cater to specific industry professionals in a bid to penetrate markets that have fallen behind when it comes to cloud modernization. For instance, it recently released its manufacturing cloud and also invested in technologies such as digital twins. Digital twins is a virtual replication of an object that holds the promise to upend many of the industrial sectors that Microsoft is focusing on. All things considered, is MSFT stock a top tech stock to watch now?
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International Business Machines
International Business Machines (IBM) is a technology company that provides integrated solutions and services worldwide. With the company’s presence in over 171 countries globally, IBM is without a doubt a tech titan in today’s world. By and large, it has divisions that focus on cloud computing, enterprise software, and quantum computing, to name a few.
It has been an eventful past week for the company, to say the least. For starters, the company and Irish bank AIB announced a $73 million three-year agreement on Wednesday. Under the agreement, IBM will provide AIB with a next-generation IBM z15 compute platform along with an extensive technology portfolio. So, it will help AIB to sustain its high pace of digitalization while maintaining its strong focus on security and resilience.
On top of that, the company along with HSBC (NYSE: HSBC) also recently announced the successful test of an advanced token and digital wallet settlement capability. The successful testing involved an end-to-end transactional lifecycle covering CBDCs, eBonds, and foreign exchange. It was conducted in a hybrid cloud environment incorporating public and private clouds on-premise data sources. Considering all these, would you add IBM stock to your watchlist?
Tencent
Last but not least, we will be looking at Tencent. The Chinese tech giant is notable for its superapp, WeChat. Besides, the company publishes online games and applications across various Internet and mobile platforms. Tencent also offers a range of services such as cloud computing, advertising, and other enterprise services.
While sentiment around Chinese tech stocks right now is rather dim, there are some positive developments with Tencent that may excite investors. Chinese regulators have now given Tencent approval to publish updates to nine of its mobile apps. This includes apps such as QQ Music and WeCom. The resumption comes three weeks after the company received a suspension in updating or launching new apps from Chinese regulators.
Furthermore, French mobile maker Voodoo, which is backed by Tencent, said that it will invest $200 million next year on studios that develop blockchain-based mobile games. The technology will give players a feel of true ownership of their digital assets while creating deeper interaction between players. So, could the future of gaming heavily involve blockchain technology? Only time will tell. With all these in mind, should you be keeping a close eye on TCEHY stock?
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