Are These The Best Tech Stocks To Buy Today?
While the broader stock market today appears to be on the decline, investors may want to consider tech stocks. After all, investors focusing on renewed pandemic-related restrictions worldwide seem to be driving markets lower now. With rising coronavirus cases globally, it would make sense that pandemic winners are once again in the spotlight. Accordingly, this would be where the tech industry and tech stocks come into play. Throughout the early stages of the pandemic, tech firms such as Zoom (NASDAQ: ZM) and CrowdStrike (NASDAQ: CRWD) thrived. This is understandable given the sudden surge in demand for their offerings as organizations focus on digital acceleration.
Notably, Zoom’s head of Asia Pacific operations Ricky Kapur recently said, “The numbers tell us that customers are still investing and continuing to invest in Zoom post-pandemic.” Overall, Kapur sees an ongoing shift towards hybrid work environments, regardless of the current pandemic conditions.
At the same time, consumer tech firms like AT&T (NYSE: T) continue to gain attention from investors as well. As of earlier today, Barclays analyst Kannan Venkateshwar is upgrading T stock from a Neutral rating to Overweight. Additionally, the analyst also hit it with a price target of $30. Venkateshwar cites AT&T’s position amidst increasingly relevant wireless trends among other catalysts as potential growth factors in 2022. All in all, tech companies have and continue to make waves in the stock market. Could the current dips in stock present good buying opportunities for investors now?
Top Tech Stocks To Buy [Or Sell] This Week
- Oracle Corporation (NYSE: ORCL)
- Upstart Holdings Inc. (NASDAQ: UPST)
- Palantir Technologies Inc. (NYSE: PLTR)
- Amazon.com Inc. (NASDAQ: AMZN)
Oracle Corporation
First up, we will be taking a look at the Oracle Corporation. For the uninitiated, Oracle is a multinational computer tech firm. Namely, it is among the largest software companies globally in terms of revenue and market capitalization. Should pandemic conditions continue to worsen worldwide, demand for Oracle’s offerings could rise accordingly. This could be the case given Oracle’s comprehensive suite of secure applications and autonomous infrastructure solutions. Now, with ORCL stock currently up by over 45% year-to-date, investors may be wondering if the company’s shares have more room to run.
By and large, Oracle does not seem to be slowing down anytime soon on the operational front. As of today, the company is acquiring health care tech firm Cerner (NASDAQ: CERN). At the moment, current estimates point towards a $30 billion deal between the two firms. The all-cash deal values Cerner at about $95 per share. In theory, Oracle is significantly bolstering the health care-related capabilities of its cloud services through this deal. Given the massive reach and current relevance of Cerner’s medical records tech services, this would be a win for Oracle. With all that said, will you be adding ORCL stock to your portfolio anytime soon?
[Read More] Best Cyclical Stocks To Buy Today? 4 In Focus
Upstart Inc.
Next up, we have Upstart, a tech company that has an artificial intelligence (AI) lending platform for banks and credit unions to provide consumer loans using non-traditional variables such as education and employment to predict creditworthiness. To highlight, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates, while simultaneously delivering an exceptional digital-first lending experience. Impressively, UPST stock is up by over 220% in the past year alone. On December 9, 2021, the company announced a piece of news that may have gotten investor attention.
Diving in, the company says that together with the National Bankers Association (NBA) have formed a partnership to improve access to affordable credit for customers of minority-owned depository institutions (MDIs) through a unique agreement to use the company’s AI lending platform.
Through this partnership, Upstart will offer MDIs advanced digital lending technology and the ability to provide smaller personal loans economically to their communities. Smaller loan amounts can help borrowers recover from short-term setbacks. This would help them avoid paying exorbitant interest rates from payday lenders that can quickly turn into cycles of debt. The company also says that access to advanced and innovative technologies will not only help its member banks meet community needs but also compete more effectively as all banking becomes increasingly digital. Given this piece of news, will you consider investing in UPST stock?
[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist
Palantir Technologies Inc.
Following that, we have Palantir Technologies, a software company that specializes in big data analytics. The company offers everything from data integration to applications that power decision-making, in hours. It does this through its Foundry platform. Palantir’s customers can choose the specific Foundry modules that serve its needs. Also, the company’s software as a service (SaaS) is one of the five offerings authorized for Mission Critical National Security Systems by the U.S. Department of Defense.
Today, the company announced that Dewpoint Therapeutics will be partnering up to have its Foundry platform to help power Dewpoint’s efforts to discover treatments and cures for the most challenging diseases. The platform will enable researchers at Dewpoint to further understand condensate biology by analyzing lab data along with other data sources. This would include data from published literature and databases to identify new compounds and therapeutic approaches. Dewpoint will also use Foundry as its primary platform for its centralized knowledge repository. The multi-year agreement marks one of Palantir’s most comprehensive partnerships with a biotechnology company. With this piece of news, is PLTR stock a top tech stock to buy right now?
[Read More] Best Monthly Dividend Stocks To Buy? 4 For Your December 2021 Watchlist
Amazon.com Inc.
Amazon is a multinational technology company with one of the biggest e-commerce platforms in the world. Its Amazon Web Services (AWS) is one of the world’s most comprehensive and broadly adopted cloud offerings. In fact, AWS has been expanding its services to support virtually any cloud workload and now has more than 200 fully-featured services. This would span computing, databases, analytics, machine learning, and AI among others.
Last week, the company announced the launch of AWS Asia Pacific Region in Indonesia. The company says that businesses as well as government, education, and organizations will be able to run their applications and serve end-users from data centers located in Indonesia, leveraging advanced AWS technologies to drive innovation. AWS also released an economic impact study estimating that the company’s spending on the construction and operation of the new AWS Asia Pacific (Jakarta) Region will create 24,700 direct and indirect jobs with an estimated $5 billion in planned investment in the local economy. Given this piece of news, would you buy AMZN stock?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!
