Technology stocks, also known as tech stocks, are shares of companies that produce and sell technology products and services. These companies can range from small startups to large, well-established firms, and they can operate in a variety of tech-related industries, such as software, hardware, the internet, and telecommunications.
Tech stocks have historically been some of the most volatile and high-risk investments, but they have also had the potential for high rewards. Despite the inherent risks, tech stocks remain a popular choice for investors, particularly those looking for long-term growth.
The technology sector has consistently outperformed the broader market over the past few decades, and many experts believe that trend is likely to continue as technology continues to advance and become increasingly integrated into every aspect of our lives. Considering this, here are two blue-chip tech stocks to keep an eye on in the stock market in 2023.
Tech Stocks To Watch In 2023
- Apple Inc. (NASDAQ: AAPL)
- Adobe Inc. (NASDAQ: ADBE)
Apple (AAPL Stock)
First off, Apple Inc. (AAPL) is a multinational technology company that designs and develops consumer electronics, computer software, and online services. It is best known for its line of iPhones, iPads, and Mac computers, as well as its operating system, iOS, and its music streaming service, Apple Music.
AAPL Recent Stock News
In recent news, last month Apple announced it has made significant upgrades to the pricing capabilities of the App Store. This includes an additional 700 price points for developers. In detail, Apple is making changes to how much money developers can charge for their apps in the App Store. Right now, developers can choose from a limited number of prices for their apps. However, soon they will be able to choose from many more prices, almost ten times as many. This means developers will have more flexibility to set the price for their app, depending on the country or region where the app is being sold.
The App Store also has tools to help developers sell their products and services all around the world. This includes features for payment and marketing. These new changes to pricing will make it easier for developers to manage the cost of their apps in different countries and deal with changes in money exchange rates. These changes will be available for certain apps starting today, and for all other apps in the spring of 2023.
AAPL Stock Chart
Over the last month of trading, shares of AAPL stock have fallen another 12.10%. Meanwhile, going into this holiday trading week, AAPL stock is set to open Tuesday morning’s trading session at around $129.93 a share.
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Adobe (ADBE Stock)
Next, Adobe Inc. (ADBE) is a multinational software company that provides a range of products and services for creative professionals, marketers, and developers. The company is best known for its software products, which include Photoshop image editing software, Acrobat document management software, and Illustrator vector graphics software. Adobe also offers cloud-based software as a service (SaaS) products.
ADBE Recent Stock News
Last month, Adobe reported its fourth-quarter 2022 financial results. Diving in, the company reported Q4 2022 earnings of $3.50 per share, along with revenue of $4.5 billion. This was compared to analysts’ consensus estimates for the quarter which were earnings of $3.50 per share and revenue estimates of $4.5 billion. What’s more, these revenue figures for Q4 2022 represent a 10.1% increase versus the same period, a year prior.
Shantanu Narayen, chairman, and CEO of Adobe commented, “Adobe drove record revenue and operating income in fiscal 2022. Our market opportunity, unparalleled innovation, operational rigor and exceptional talent position us well to drive our next decade of growth.“
ADBE Stock Chart
Looking at the last month of trading, shares of ADBE stock have dropped a modest 1.46%. Additionally, as we look into this holiday-shortened week, ADBE stock is set to open Tuesday morning’s trading session at around $336.53 a share.
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