Top Tech Stocks To Watch Right Now
Tech stocks seem to be gaining traction again in the stock market after experiencing some turbulence over the past few months. However, you may have seen this coming, given how technologically-driven our world is right now. The question is, would this be a good time to invest in tech stocks? Well, it’s worth pointing out that the tech-heavy Nasdaq composite spent most of the past week hitting record highs.
In the long run, you will likely not go wrong investing in the right tech stocks. New developments are made every other day and this is why we are so reliant on tech today. For example, have you heard of augmented reality (AR)? Believe it or not, companies such as Snap Inc (NYSE: SNAP) and Pinterest Inc (NYSE: PINS) have now incorporated AR try-on features when you do your shopping online. These are groundbreaking tech advancements and it could very well be just the tip of the iceberg. Now, given that tech stocks are showing momentum again, do you have this list of four top tech stocks to buy in the stock market today?
Best Tech Stocks To Buy [Or Avoid] In July
- Microsoft Corporation (NASDAQ: MSFT)
- Advanced Micro Devices, Inc (NASDAQ: AMD)
- Upwork Inc (NASDAQ: UPWK)
- Auddia Inc (NASDAQ: AUUD)
Microsoft Corporation
First, we have the tech giant Microsoft. As most of you may be aware, the company develops a range of software products, services, devices, and solutions. Its Windows computer operating system is used by consumers globally. Besides, many consumers have continued to rely heavily on Microsoft’s software and offerings throughout the pandemic. MSFT stock has risen over 20% year-to-date and recently hit $2 trillion in market capitalization.
Last week, the company finally unveiled the Windows 11 operating system which will feature a cleaner design and a variety of new features. This is a highly anticipated upgrade, nearly six years on from the release of Windows 10. The new Windows 11 will also let users both find and run Android mobile applications on their laptops and personal computers (PCs). The upgrade could be available as early as October this year.
Furthermore, there were also reports from Bloomberg that Microsoft is planning to add four new data centers within China by early 2020. This is to expand its service capacity across Asia. As of today, the company already has six data centers in the country, operated by local partner 21Vianet. So, it appears that the company is now seeking to capitalize on the global surging demand for internet services. We can see that Microsoft is not resting on its laurels despite it being already one of the largest tech companies in the world. Hence, would you consider buying MSFT stock now?
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Advanced Micro Devices, Inc
Another tech company that has been making waves would be Advanced Micro Devices (AMD). Essentially, it is a company that develops computer processors and technologies for the business and consumer markets. Consumers and businesses alike globally rely on its technology to improve efficacy and productivity. So, it should not be surprising that AMD stock has risen by over 70% over the past year.
In this year’s International Supercomputing 2021 digital event, AMD showcased the momentum of its AMD EPYC™ processors and AMD Instinct™ accelerators across the High-Performance Computing (HPC) industry. Up to date, the AMD EPYC processors power nearly 5x more systems compared to the June 2020 list. Also, EPYC processors power half of the 58 new entries on the June 2021 list. Hence, it is enabling its partners and customers to deploy all sizes of clusters, across key research areas which may include manufacturing, life sciences, and more.
Moreover, AMD also outlined updates to the ROCm™ open software platform and introduced the AMD Instinct Education and Research (AIER) initiative. This initiative is designed to help scientists and researchers to accelerate the performance of their code on AMD Instinct Accelerators. Well, we can see that AMD is firing on all cylinders and there’s probably more to come. With that in mind, would you view AMD stock as a top tech stock to buy now?
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Upwork Inc
Upwork is a company that operates an online employment marketplace. The company offers a platform that allows businesses with freelance labor to hire, manage and pay for completed work. Its platform also enables clients to streamline workflows, such as talent sourcing, outreach, and contracting. Just within the past year, UPWK stock has climbed by over 300%.
Last month, the company and Budweiser announced a partnership to champion America’s diverse workforce. This partnership would tap into the country’s extraordinary creative freelancers to reimagine the design of limited-edition Labor Day can packaging. It also marked the launch of Upwork CoLab, a new Upwork brand-partnership program that connects freelancers with exciting brands. Therefore, allowing brands to have access to independent talent who may provide unique ideas and solutions.
Upwork had a record year in 2020 but the company started the year 2021 even stronger. In its first quarter, the company posted revenue of $113.6 million, up by 37% year-over-year. Out of which, the clients’ segment increased by 40% to $45.2 million. Upwork continues to see success with its strategy as shown by its accelerating growth in both new clients and core clients. All things considered, would UPWK stock be a buy for you?
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Auddia Inc
Lastly, we have an up-and-coming tech company that develops software products for the audio markets, Auddia. The company’s flagship product is Auddia, a subscription-based mobile application that enables users to listen to various streaming AM/FM radio stations without commercials. It also provides Vodacast, an interactive podcasting platform, and application. AUUD stock has been buzzing over the past week and soared by over 130% within the last five trading days.
Last week, the company announced a major advancement in its proprietary tech at the core of its Artificial Intelligence engine. The new AI processing methodology gives the company near real-time data processing capabilities which is expected to improve the overall performance of the Auddia platform. Furthermore, it also reduces the onboarding time for stations by a factor of five as the company scales to thousands of stations.
Fast forward a week, Auddia has been trending again largely because of the announcement of the release of the flagship Auddia App ahead of schedule. This is due to the significant AI advancements mentioned earlier. The Auddia App delivers freedom from commercials and choice of content to radio listeners for the first time. Thus, with Auddia appearing to be at the forefront of the industry, would you invest in the future of AUUD stock?
