The tech industry, a vibrant and dynamic sector, plays a pivotal role in shaping the world’s economy. It spans a variety of areas including software development, hardware manufacturing, cloud computing, artificial intelligence, and more. These industries, combined with our increasing dependence on technology in our daily lives, have made the tech sector an integral part of the global economic landscape.
Investing in tech stocks can be both exciting and profitable, given the sector’s exponential growth over the past few decades. Companies in this sector have the potential to disrupt traditional industries, innovate, and drive growth at a pace that is often unmatched by other areas of the market.
However, investing in tech stocks does not come without its challenges. The tech industry is characterized by rapid change and high competition, and companies that can’t keep up risk becoming obsolete. Moreover, valuations in the tech sector can be high, leading to concerns about overvaluation and potential market corrections. As with any investment, due diligence is key when choosing tech stocks. Investors need to understand a company’s business model, growth prospects, and the risks involved before making an investment decision. With that being said, here are two large-cap tech stocks to watch in the stock market today.
Tech Stocks To Buy [Or Avoid] Right Now
- Alphabet Inc. (NASDAQ: GOOGL)
- Meta Platforms Inc. (NASDAQ: META)
Alphabet (GOOGL Stock)
Alphabet Inc. (GOOGL) is a multinational conglomerate known predominantly for being the parent company of Google, the world’s leading search engine. Alphabet’s vast portfolio also includes other high-profile businesses such as YouTube, Android, and others.
Back in April, Alphabet reported its first quarter of 2023 financial results. Diving in, the company beat analysts’ expectations posting a Q1 2023 earnings per share of $1.17 and revenue of $69.8 billion. This was more than what financial analysts had expected, which were estimates of $1.06 EPS and revenue of $68.9 billion.
Moving along, as of Friday morning’s trading session, shares of GOOGL stock are trading higher off the open by 1.35% at $126.22 per share.
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Meta Platforms (META Stock)
Next, Meta Platforms Inc. (META), formerly known as Facebook Inc., is a global social media and technology company. It operates several well-known platforms including Facebook, Instagram, WhatsApp, and Messenger.
Earlier this month, Meta announced the day and time it will report its Q2 2023 financial results. Specifically, the company is set to report its second quarter of 2023 earnings results on Wednesday, July 26, 2023, after the close of the U.S. stock market.
Meanwhile, during Friday morning’s trading session, META opened slightly lower by 0.20%, trading at $312.83 a share.
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