Tech stocks are one of the most important types of stocks in the stock market. Tech stocks are the stocks of companies that produce and sell technology products. This includes companies that make and sell computers, software, semiconductors, and telecommunications equipment. As a result, tech stocks make up a large portion of the stock market, and they are often some of the most volatile stocks.
This means that they can go up or down in value very quickly. Tech stocks are often seen as risky investments, but they can also be very profitable. Many people believe that technology is the future, and investing in tech stocks is a good way to get involved in this rapidly growing industry. If this has you keen on investing in the technology sector, here are two mega-cap tech stocks to watch in the stock market today.
Tech Stocks To Buy [Or Sell] Right Now
- Alphabet Inc (NASDAQ: GOOGL)
- Microsoft Corporation (NASDAQ: MSFT)
1. Alphabet (GOOGL Stock)
Leading off, Alphabet Inc. (GOOGL) is an American multinational conglomerate. In brief, Alphabet was created in 2015 as a restructuring of Google and several other subsidiaries. Alphabet Inc’s portfolio encompasses several industries, including life sciences, investment capital, researching energy production, health care, producing consumer electronics, working on the development of self-driving cars, and artificial intelligence. Notably, some of the more popular brands in Alphabet’s portfolio are names like Google, YouTube, Android, Nest, and Calico, among others.
GOOGL Recent Stock News
On Tuesday, Alphabet reported weaker-than-expected third-quarter 2022 financial results. In detail, the company posted Q3 2022 earnings of $1.06 per share and revenue of $69.1 billion. Meanwhile, Wall Street’s consensus estimates for the quarter were earnings of $1.25 per share and revenue of $71.0 billion. Though, Alphabet did report a 6.1% revenue increase compared to the same period, a year prior.
Sundar Pichai, CEO of Alphabet and Google, said: “We’re sharpening our focus on a clear set of product and business priorities. Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetize YouTube Shorts. We are focused on both investing responsibly for the long term and being responsive to the economic environment.”
GOOGL Stock Chart
After Wednesday’s opening bell, shares of GOOGL stock are trading lower by 7.57% at $96.57 a share.
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2. Microsoft (MSFT Stock)
Next, Microsoft Corporation (MSFT) is an American multinational technology company. For starters, it develops, manufactures, licenses supports, and sells computer software, consumer electronics, personal computers, and services. Moreover, its best-known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface tablet lineup.
MSFT Recent Stock News
On Tuesday, Microsoft reported its first-quarter 2023 financial results. Diving in, the company released stronger-than-expected earnings, though lowering its guidance. Specifically, Microsoft posted Q1 2023 earnings of $2.35 a share, with revenue of $50.1 billion. For context, this is versus the street’s consensus estimates for Q1 2023, which was earnings of $2.29 per share, with revenue of $50.1 billion. Furthermore, the tech giant notched in a 10.6% increase in revenue year-over-year, during the same time period.
Moreover, Satya Nadella, chairman and CEO of Microsoft. “In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way.“
MSFT Stock Chart
Meanwhile, during Wednesday morning’s trading session, shares of Microsoft stock are down 7.09% at $232.95 a share.
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