Top Tech Stocks To Watch In The Stock Market Today
Tech stocks appear to be making a major comeback in the stock market now. Evidently, the tech-heavy Nasdaq composite spent most of the past week hitting record highs. If anything, this could be thanks to a mix of steadying Treasury yields and slight deceleration in the reopening trade. While tech stocks and reopening stocks remain viable plays in the current market, we will be focusing on the tech industry for today.
Notably, the world of tech has and continues to develop despite the performance of the tech stocks. Even now, industry giants such as Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) are making massive plays. For starters, Microsoft recently launched the next massive upgrade to its flagship operating system, Windows. Subsequently, the company revealed a new artificial intelligence (AI) system, GitHub Copilot, earlier today. Through this collaboration with GitHub and AI research and deployment firm, OpenAI, Microsoft is looking to optimize the programming process for software developers with AI. Meanwhile, Amazon reportedly acquired encrypted messaging app Wickr last week. Why this move is notable is because of Wickr’s existing $35 million contract with the U.S. military. In theory, this could serve as a possible means of further positioning Amazon’s cloud computing arm as a government contractor.
However you look at it, the tech industry seems to be constantly innovating towards newer frontiers. Likewise, some would argue that this justifies some of the top growth stocks being tech stocks. Because of all this, I can understand if investors are bullish on the sector now. On that note, here are four hot tech stocks to know in the stock market today.
Best Tech Stocks To Buy [Or Sell] Right Now
- IBM Corporation (NYSE: IBM)
- Marin Software Inc. (NASDAQ: MRIN)
- Qualcomm Inc. (NASDAQ: QCOM)
- AT&T Inc. (NYSE: T)
International Business Machines Inc.
IBM is a tech company that focuses on cloud & cognitive software, global technology services, and systems. The company’s data science and AI division has been at the center of attention recently. For instance, it announced last Thursday that it’s IBM Watson Advertising will apply open-source AI technology to explore the role of AI in detecting and mitigating bias in advertising. You could say the company is at the forefront of the tech industry. IBM stock currently trades at $145.55 as of Tuesday’s closing bell.
The company has been busy in June with a series of announcements and partnerships. On Tuesday, IBM and Schlumberger announced the industry’s first commercial hybrid cloud Enterprise Data Management Solution for the energy sector. The hybrid cloud offering is designed to expand access to customers globally. It will also help reduce the time for analysis and accelerate decision-making. Yesterday the company also announced that it will be bringing AI-Powered automation software to networking to help speed up 5G adoption. With so many exciting developments surrounding IBM, will you consider adding IBM stock to your portfolio?
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Marin Software Inc.
Marin is a tech company that focuses on online advertising. It aims to give advertisers the means to drive higher efficiency and transparency in their paid marketing programs that run on the world’s largest publishers. In essence, the company provides enterprise marketing software for advertisers and agencies to integrate, align, and amplify their digital advertising spending across the web and mobile devices. MRIN stock saw gains of over 130% during Tuesday’s trading session, closing at $17.30 a share.
The company’s stock price continues to climb after it recently announced that its ad management platform now lets users manage Instacart ads. This will allow brands to connect more directly with customers. Instacart is an online grocery platform that delivers groceries and other items from nearly 55,000 stores located in the U.S. and Canada. With this integration, Marin says that this will help advertisers better optimize the $40 billion they spend in digital advertising geared towards targeting consumers to buy goods and services. The company has also been the target of retail traders recently, which could further explain its increase in valuation recently. With that in mind, is MRIN stock worth buying?
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Qualcomm Inc.
Qualcomm is one of the world’s largest wireless technology companies. It has essentially been the driving force behind the development and expansion of 5G. The company has been heavily involved in many industries, which include automotive, communications, and the Internet of Things among others. QCOM stock currently trades at $142.62 as of Tuesday’s closing bell and is up by over 55% in the last year.
On Monday, the company announced the new Snapdragon 888 Plus 5G Mobile Platform, a follow-on to the flagship Snapdragon 888. These two platforms power more than 130 designs announced or in development. “Snapdragon is synonymous with premium Android experiences. Our latest flagship Snapdragon 888 Plus 5G Mobile Platform will help deliver the premium entertainment, connectivity, and gaming experiences users deserve,” said Christopher Patrick, senior vice president, and general manager, mobile handset business, Qualcomm Technologies, Inc. “We’re excited to see OEMs launch with products based on our highest performing platform.” Given all of this, will you be investing in QCOM stock?
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AT&T Inc.
Following that, we will be taking a look at telecom giant, AT&T Inc. In brief, AT&T is the world’s largest telecom company and the second largest provider of mobile telephone services. For a sense of scale, the company caters to over 225 million monthly subscribers. Over 100 million of which consist of U.S. consumers relying on AT&T’s mobile and broadband services. More importantly, AT&T is a prominent name in the consumer 5G industry now. For tech investors looking to jump on the top 5G stocks in the market, T stock could be a viable play. Now, T stock is currently trading at $28.66 a share as of the end of Tuesday’s trading day.
Among the vast applications of its wireless services, AT&T recently expanded on its FirstNet network. Simply put, FirstNet is a nationwide, high-speed wireless broadband network, serving first-responders. Just this past month, AT&T bolstered and expanded its existing FirstNet network in Wisconsin, New York, and Minnesota, among others. Firstly, this would help to bolster AT&T’s relations with federal government bodies. Secondly, it would also serve to improve overall coverage for its wireless customers. All things considered, would you consider T stock a top tech stock to buy now?
