The technology sector, also known as the tech sector, is a segment of the stock market that includes companies involved in the development, manufacture, and sale of technology products and services. This industry includes a wide range of companies, from established giants like Apple (NASDAQ: AAPL) and Netflix (NASDAQ: NFLX) to innovative start-ups and cutting-edge firms in emerging technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT).
Tech stocks are stocks of companies in the technology sector. These stocks are highly sought after by investors due to their potential for high growth and innovation. However, investing in tech stocks can also be risky, as the industry is highly competitive and constantly evolving. Market volatility and changing consumer trends can impact the performance of tech stocks.
Investing in tech stocks requires careful consideration and analysis. It’s important to understand the individual company’s financial health, market position, and competitive advantages, as well as the broader trends and economic indicators that may impact the tech sector as a whole. By investing in a well-researched portfolio of tech stocks, investors can potentially benefit from the industry’s growth and innovation while managing their risk exposure. If this has you interested in investing in the tech sector, here are three blue-chip tech stocks to check out in the stock market today.
Tech Stocks To Buy [Or Avoid] In 2023
- Microsoft Corporation (NASDAQ: MSFT)
- NVIDIA Corporation (NASDAQ: NVDA)
- Meta Platforms Inc. (NASDAQ: META)
Microsoft (MSFT Stock)
First up, Microsoft Corporation (MSFT) is a multinational technology company that develops, licenses, and sells computer software, consumer electronics, and personal computers. The company is known for its popular Windows operating system and productivity software such as Microsoft Office. Microsoft has diversified its business to include cloud computing and artificial intelligence.
Just this month, Microsoft announced that Sandra E. Peterson, an Operating Partner at Clayton, Dubilier & Rice, has been appointed as Lead Independent Director, succeeding John W. Thompson, who had held the role since 2012. The tech giant has also declared a quarterly dividend of $0.68 per share, payable in June 2023 to shareholders of record as of May 18, 2023, with the ex-dividend date set for May 17, 2023.
Looking at the start of 2023, shares of MSFT stock are up 15.89% YTD. Meanwhile, as of Thursday’s closing bell, Microsoft stock closed the day up by 1.97% at $277.66 a share.
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NVIDIA (NVDA Stock)
Second, NVIDIA Corporation (NVDA) is a semiconductor company that specializes in graphics processing units (GPUs) for gaming, data centers, and professional applications. The company’s GPUs are widely used in gaming consoles, personal computers, and cloud computing platforms. NVIDIA has been at the forefront of developments in artificial intelligence and machine learning.
Just last month, NVIDIA reported its fourth quarter 2022 earnings results. In the quarter, the company posted earnings of $0.98 per share, along with revenue of $6.1 billion. This came in higher than analysts’ consensus estimates which were earnings per share of $0.81 with revenue of $6.0 billion. Additionally, NVIDIA also said it estimates Q1 2023 revenue between $6.37 billion to $6.63 billion, with non-GAAP gross margins of 66.0% to 67.0%.
Year-to-date, NVDA stock has surged by 89.95% so far. Meanwhile, on Thursday, shares of NVDA stock closed the day up another 2.73% trading at $271.91 a share.
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Meta Platforms (META Stock)
Finally, Meta Platforms Inc. (META), formerly known as Facebook, is a social media company that operates several popular platforms, including Facebook, Instagram, and WhatsApp. The company generates revenue through advertising and is one of the largest advertising platforms in the world. Meta has also expanded into virtual and augmented reality with the development of its Oculus VR products.
Last month, Meta Platforms announced its fourth quarter 2022 financial results. Specifically, the company reported earnings of $3.00 per share and revenue of $32.2 billion. For context, this is compared to Wall Street’s consensus estimates which were earnings of $2.12 per share, and revenue estimates of $31.8 billion. What’s more, Meta Platforms also said it estimates Q1 2023 revenue in the range of $26.0 billion to $28.50 billion.
Year-to-date, shares of META stock have rebounded by 63.76% so far. Moving along, as of Thursday’s closing bell, META stock closed the day higher by 2.24% at $204.28 per share.
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