Are These The Top Tech Stocks For Your December 2021 Portfolio?
As investors consider their options amidst the current dip in markets, tech stocks could be worth noting. Overall, this section of the stock market today remains an industry focused on growth. From cloud computing to cybersecurity and even consumer tech, this is apparent. After all, the nature of tech is that it is constantly evolving. Across industries and consumer markets, clients are always eagerly awaiting the next big upgrade cycle. If anything, some would argue that the tech stocks are trading at attractive prices now as potential Federal Reserve policies weigh in on investors.
By and large, there is no shortage of exciting developments among tech stocks as well. For instance, we could look at the likes of GlobalFoundries (NASDAQ: GFS) and Apple (NASDAQ: AAPL) this week. On one hand, a major stakeholder in GlobalFoundries sees massive upside for the semiconductor industry at large. According to Khaldoon Al Mubarak, CEO of Mubadala (the stakeholder), the industry could double in market value within the next decade.
On the other hand, Apple continues to shine amongst its FAANG stocks peers as well in the stock market now. Namely, the company’s shares are hovering around record levels as Wall Street continues to hail it as a top tech stock. This is evident as the company received a notable price target update to $200 from Morgan Stanley (NYSE: MS) analyst Katy Huberty last week. Aside from these two examples, the tech industry continues to power forward despite the current weakness in stocks. Given all of this, could one of these tech stocks be worth investing in now?
Top Tech Stocks To Buy [Or Sell] This Week
- Luminar Technologies Inc. (NASDAQ: LAZR)
- AT&T Inc. (NYSE: T)
- Mastercard Inc. (NYSE: MA)
- Adobe Inc. (NASDAQ: ADBE)
Luminar Technologies.
First on this list, we have Luminar Technologies, a tech company that is transforming automotive safety and autonomy. It does this through its lidar and associated software that meets the industry’s stringent safety and performance requirements. The company has rapidly gained over 50 industry partners, including a majority of top global automotive OEMs. For instance, it signed the industry’s first production deal for autonomous consumer vehicles with Volvo Cars last year. LAZR stock currently trades at $14.98 as of 1:04 p.m. ET and is up a modest 2% on today’s opening bell.
Investors are likely responding to news that Luminar’s CEO, board members, and management have announced a plan to purchase a total of $250 million of LAZR stock. Share purchases are expected to begin today. “Over the past year, our breakthrough technology and commercial success have begun to usher in a new era of safety and autonomy for the industry on production consumer vehicles and trucks,” said Austin Russell, Luminar Founder, and CEO. “Given our current position and our trajectory, we think our stock price has not reflected the wins and successes we’ve had over the past year since our public debut, with substantial inefficiency in the market. Today, we’re putting our money where our mouth is by executing this significant purchase of shares as we accelerate our industry leadership.” With that being said, is LAZR stock a tech stock to consider buying?
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AT&T Inc.
Following that, we have AT&T, a multinational tech company that is one of the largest telecommunications companies in the U.S. In fact, it is a diversified, global leader in media, entertainment, and communications as well across mobile and broadband. It also serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. Its WarnerMedia is a leading media and entertainment company that creates and distributes premium content through its consumer brands that include HBO Max and Warner Bros. T stock currently trades at $22.52 as of 1:04 p.m. ET.
Last week, AT&T CEO John Stankey provided an update to shareholders. He characterized current wireless industry demand trends as healthy, saying that any seasonal uptick in competition remains broadly in line with historical trends. Stankey is also confident in the sustainability of AT&T’s wireless momentum. Furthermore, the company’s deployment plans are on track, and that in the coming years, investors can expect multiple opportunities from the country’s largest fiber network, including improved consumer and business penetration. Given this exciting piece of news, is T stock worth investing in right now?
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Mastercard Inc.
Mastercard is a financial services corporation that connects and powers an inclusive digital economy that benefits everyone. It uses secure data and networks along with partnerships, its innovative solutions help individuals and financial institutions to realize their greatest potential. The company’s platform is used in more than 210 countries and territories. MA stock currently trades at $339.61 as of 1:04 p.m. ET. Today, the company released a new report on consumer adoption of financial experiences.
In detail, the report titled The Rise of Open Banking demonstrates the mainstream adoption of technology to power smarter, more meaningful digital experiences. To begin with, open banking puts consumers at the center of where and how their data is used more effectively to provide the services that they want and need. Fintech companies and banks like Mastercard will use this consumer-permissioned data to provide easier and more inclusive access to credit, personal financial management, digital wallets, and payments services. Furthermore, it will also give consumers choice by enabling them to use their own data to obtain financial services effectively. With this piece of information, is MA stock worth adding to your portfolio?
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Adobe Inc.
Last but not least, we will be taking a look at Adobe. For the most part, it is a multinational computer software firm. The company offers a vast array of software solutions to clients across the globe. This includes but is not limited to its Adobe Creative Cloud, Document Cloud, and Experience Cloud offerings. All of which allows Adobe to cater to creatives, students, small businesses, government agencies, and even global brands. With the resurgence in pandemic concerns amidst rising Omicron variant cases, ADBE stock could be worth noting now.
As it stands, the company’s shares currently trade at $602.91 as of 1:05 p.m. ET. This would be after gaining by over 100% since its pandemic-era low. Even so, Adobe continues to find ways to reach more addressable markets with its flagship offerings. Just yesterday, the company launched Creative Cloud Express, a simplified version of its Creative Cloud service. Through the app, users can access a basic version of Adobe’s image and video editing tools on the go. Among the notable features are its artificial intelligence effects and massive library font. Not to mention, all of these features are integrated into an easy-to-use interface. All in all, Adobe seems to be looking to expand its software to accommodate more casual users. Could this make ADBE stock a top buy in your books?
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