The technology sector is like the backstage crew in a theater production. They’re the ones that keep the lights on, the sound running, and the stage changing seamlessly. From the smartphone that wakes you up with an alarm in the morning to the computer you use for homework and games, to the GPS that guides you on road trips – all of these are products of the technology sector. It encompasses a wide range of businesses that sell goods and services in electronics, computers, artificial intelligence, and other fields related to information technology.
Investing in technology is like betting on the future. Tech companies, and therefore tech stocks, are often on the leading edge of innovation. They’re coming up with new gadgets, software, services, and platforms that can make life easier, businesses run smoother, and entertainment more enjoyable. Some of these companies grow rapidly, and as a result, so does the value of their stocks. When you buy a share in a tech company, you’re buying a piece of their future profits and successes.
However, it’s important to know that investing in tech stocks can be a bit like riding a roller coaster. Some tech companies soar high and fast, but others can plummet just as quickly. There’s a lot of potential for growth, but there’s also more risk compared to more stable sectors. It’s a good idea to study the company you’re interested in. Considering this, here are two tech stocks to watch in the stock market today.
Tech Stocks To Watch Right Now
- Netflix Inc. (NASDAQ: NFLX)
- CrowdStrike Holdings Inc. (NASDAQ: CRWD)
Netflix (NFLX Stock)
Firstly, Netflix Inc. (NFLX) is a streaming giant that has fundamentally changed how people consume movies and TV shows. It provides an on-demand platform for film and television content, with an impressive library that includes critically acclaimed original programming.
Last month, Netflix announced better-than-expected first quarter of 2023 financial results. Specifically, the company reported earnings of $2.88 per share, along with revenue of $8.2 billion. This is in comparison to Wall Street’s estimates which were an EPS of $2.83 per share, and revenue estimates of $8.2 billion. Additionally, Netflix also reported that it expects second-quarter 2023 earnings of approximately $2.84 per share.
Year-to-date shares of NFLX stock have increased by 35.97%. While, during Thursday morning’s trading session, Netflix stock is trading higher off the open by 1.44% at $400.93 a share.
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CrowdStrike Holdings (CRWD Stock)
Second, CrowdStrike Holdings Inc. (CRWD) is a cybersecurity firm that offers a cloud-native endpoint security platform to businesses of all sizes. Their technology uses artificial intelligence to analyze threats and protect their clients’ systems in real time.
Just this week, CrowdStrike reported a beat for its Q1 2024 financial results. Diving in, the cybersecurity company posted earnings of $0.57 per share, with revenue of $692.6 million for Q1 2024. For context, analysts’ consensus estimates for the quarter were an EPS of $0.51 and revenue estimates of $677.4 million. In addition, revenue increased by 42.0% versus the same period, the previous year.
Since the start of 2023, shares of CRWD stock have advanced by 49.79% year-to-date. Meanwhile, on Thursday morning, CrowdStrike stock is trading at $154.52 per share.
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