Are These Best Information Tech Stocks Worth Investing Today?
In the current day and age we live in, information technology (IT) is one of, if not the most crucial areas of tech. As such, it would make sense then that IT stocks are, arguably, a noteworthy section of the stock market today. Without going into too much detail, IT essentially involves making and processing electronic data and information. Because of this, virtually most tech firms either offer software services or hardware that fall within this category. For the most part, they do so to cater to a wide range of end markets. The likes of which range from financial and government institutions to organizations and consumers alike.
Take Meta Platforms (NASDAQ: FB) for example. Overall, the company serves several areas of the IT spectrum now. On one hand, its vast network of social media offerings enables consumers to communicate and socialize from across the globe. On the other hand, its advertising and e-commerce solutions empower businesses to interact with its massive user base. Sure, the company reported less-than-ideal figures in its latest quarterly earnings report yesterday. As a result, FB stock is currently on the decline. However, the company remains a titan in the IT space now and some investors could see an opportunity here.
At the same time, companies like Qualcomm (NASDAQ: QCOM) that produce the hardware supporting the IT industry are on the rise. Just yesterday, the chipmaker topped Wall Street’s expectations across the board in its fiscal first-quarter update. Namely, it also raked in a record first-quarter revenue, citing surging demand for its chips in the booming smartphone market. After considering all of this, could one of these IT stocks be top picks in the stock market now?
3 Top Information Tech Stocks To Buy [Or Sell] This Month
- T-Mobile US Inc. (NASDAQ: TMUS)
- Nvidia Corporation (NASDAQ: NVDA)
- Apple Inc. (NASDAQ: AAPL)
T-Mobile US
First up, we have T-Mobile, a telecommunications company that delivers advanced 4G LTE and nationwide 5G connectivity. It has a wide subscription base of over 100 million and is also one of the largest wireless carriers in the U.S. Furthermore, it offers its customers an unmatched combination of value and quality as well. TMUS stock is up by over 9% on today’s opening bell.
On Wednesday, the company announced its fourth-quarter and full-year 2021 financials. Diving in, it continues to deliver industry-leading service revenue with its differentiated customer growth momentum and synergy-backed model. Net income for the quarter was $422 million, while full-year net income was $3 billion. It also added 1.8 million postpaid net customers during this quarter. Furthermore, high-speed internet net customers also increased by 224,000 in this quarter, the highest in the industry.
The company also posted a strong 2022 outlook, specifically mentioning its differentiated growth playbook and 5G leadership. T-Mobile CEO Mike Sievert had this to say, “Our industry-leading year-end results – adding 1.2 million postpaid accounts and 5.5 million postpaid customers, extending Ultra Capacity 5G to 210 million people – show that the Un-carrier is experiencing the greatest growth momentum in wireless. And we’re poised to sustain that position into 2022 and beyond as we continue to execute on our winning playbook and consistently make investments that have enabled our success. With plenty of room to run, we’re in the best-ever position to continue delivering.” Given the impressive quarter, is TMUS stock worth investing in today?
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Nvidia
Nvidia is a multinational tech company that is known for its line of graphics processing units (GPU). In fact, the company invented the GPU and has since paved the way for next-generation computer graphics, high-performance computing, AI, and data centers. Its products and services are used by many industries like manufacturing, transportation, and health care. NVDA stock is up by over 80% in the past year alone. The company will announce its fourth-quarter financials on February 16, 2022, after the market closes.
Ahead of its fourth-quarter earnings, the company’s main competitor, Advanced Micro Devices (NASDAQ: AMD) has just smashed analysts’ expectations. If Nvidia could follow suit, should investors be on the lookout for the company’s stock right now? Last month, Nvidia announced that researchers from the University of Illinois have developed GPU-accelerated software to stimulate a 2-billion-atom cell that metabolizes and grows like a living cell. With this Nvidia-powered GPU, scientists can create complex cell simulations and help advance research. This would be one of the many applications that Nvidia’s products could help achieve.
Today, the company also showcased its prowess in supporting emergency flood relief. By using Radar Vision, governments and agencies can see through clouds, allowing them to gain insights in near real-time. This would also allow them to reach future disasters in a timely manner, protecting homes and businesses that are most vulnerable to worsening weather conditions. With Nvidia Rapids’ suite of software libraries and the CUDA parallel computing platform, Nvidia is able to create this platform. All things considered, is NVDA stock a buy right now?
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Apple
Another major name in the IT space now would be Apple. Through its vast array of industry-leading consumer tech, the company’s business is firmly rooted in the IT realm. On the hardware end, consumers across the globe turn to Apple’s iPhones and Macs for their work and entertainment needs. On the software front, the company offers a comprehensive suite of related services to complement its hardware. This ranges from its streaming service, Apple TV+ to iCloud storage and Apple Music.
Now, even among its FAANG stock peers, Apple’s recent quarterly figures would be turning some heads. In detail, the company reported earnings of $2.10 on revenue of $123.9 billion for the quarter. Notably, this well exceeds Wall Street estimates of $1.89 and $118.66 billion respectively. Aside from iPad sales, Apple’s core product categories are seeing year-over-year revenue growth as well. In particular, its iPhone revenue for the quarter was $123.9 billion, a respectable 11% year-over-year increase.
Not to mention, analysts appear to see further value in its fast-growing software services segment. So much so that Wedbush analyst Dan Ives notes that Apple’s “services margin is a major tailwind, regardless of what happens to the iPhone.” With Apple seemingly firing on all cylinders now, would you consider adding AAPL stock to your portfolio?
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