3 Hot Tech Stocks To Watch In October 2021
Thanks to the recent pullbacks amongst tech stocks, some investors could be seeing opportunities in the stock market today. For the most part, this would be the case as rising Treasury yields spurred the drop in the broader tech industry earlier this week. Because of this, high-growth tech stocks that were considered overvalued by some could now be trading at more reasonable prices. As such, investors could now be wondering if now is a good time to buy on the dip.
Well, for one thing, Tocqueville Asset Management portfolio manager John Petrides seems to be leaning towards a yes. He believes that while tech valuations “may have been stretched”, they are now coming “down to reality”. Adding to that, Petrides says, “But to be honest with you, there’s a lot of fundamental and very strong themes to play within the growth sector where if you’ve done your shopping list and you’ve done your homework, [days like Tuesday] could be a really good buying opportunity.” In essence, Petrides seems to be taking a long-term perspective when looking at the current action among tech stocks.
At the same time, major players in the tech industry are not sitting idly by as well. We could take a look at the likes of Alphabet (NASDAQ: GOOGL) subsidiary Google, for instance. At its annual Search On event yesterday, the company announced plans to revamp its flagship Google Search service. This would include the introduction of a new operating artificial intelligence (AI) that is 1,000 times more powerful than its current AI. Elsewhere, IBM (NYSE: IBM), another leading name in tech, is reportedly looking to spin-off its IT services department, Kyndryl. All in all, the tech industry continues to power on. Could that make these three companies worth watching in the stock market now?
Best Tech Stocks To Watch Ahead Of October 2021
- FuboTV Inc. (NYSE: FUBO)
- Apple Inc. (NASDAQ: AAPL)
- Virgin Galactic Holdings Inc. (NYSE: SPCE)
FuboTV Inc.
First up, we have FuboTV, a sports-first live TV experience that provides a wide array of premium sport-related content. The likes of which focus on interactivity and integrated wagering. In essence, its streaming platform is used by sports lovers all over the country. The company leverages its proprietary data and technology platform that is optimized for live TV and sports viewership. Furthermore, it aims to turn passive viewers into active participants and has defined a new category of interactive sports and entertainment television. FUBO stock currently trades at $23.97 as of 9:50 a.m. ET.
Safe to say, it has certainly been an exciting month for Fubo. Firstly, as of today, Fubo is now partnering up with Paysafe (NYSE: PSFE), a leading specialized payments platform. Through this team-up, Paysafe will be providing Fubo with several key financial services in preparation for its upcoming real-time sports betting service launch. This includes but is not limited to credit & debit card payments, digital wallet, paysafecard, and eCash solutions. As a result, Fubo users will be able to seamlessly fund their bets using a variety of payment methods, significantly bolstering user experience.
Not to mention, Fubo also recently launched its first e-commerce venture. Dubbed the Fubo Shop, it is an online store selling exclusive branded merchandise from FuboTV and its forthcoming Fubo Sportsbook. In fact, the new e-commerce platform will offer a large assortment of clothing and accessories with logos from the company. Given these exciting developments, will you consider investing in FUBO stock?
[Read More] Best Copper Mining Stocks To Buy In 2021? 4 To Watch This Week
Apple Inc.
Next up, we have multinational tech company Apple. It specializes in consumer electronics and software. The company also offers a comprehensive suite of ecosystem-related services like Apple Music and Apple TV that is used by millions globally. Also, the company is one of the largest PC and smartphone manufacturers in the world. AAPL stock currently trades at $140.55 as of 9:54 a.m. ET.
As most would know, Apple recently announced its iPhone 13 lineup. Unsurprisingly, its latest smartphones are equipped with its next-gen A15 Bionic chip. The company also introduced a new iteration of the iPad mini and the ninth-generation iPad as well. All of which boast “superintelligence software” for new photo and filmmaking techniques and have started topping benchmarks by reviewers.
Additionally, Apple also recently unveiled its iOS 15 operating system that includes a wide number of new features for its users. This would include more ways to stay connected with its suite of applications. To highlight, Apple’s new Focus feature serves as a productivity mode, filtering notifications based on user preferences. Overall, the company appears to be out in full force ahead of the upcoming holiday seasons. Given the general popularity of its consumer tech offerings, this would be a timely play. With Apple kicking into high gear now, could AAPL stock be a top buy for you right now?
[Read More] 4 Semiconductor Stocks To Watch Right Now
Virgin Galactic Holdings Inc.
Following that, we will be taking a look at Virgin Galactic Holdings or SPCE for short. In brief, it is an aerospace company that primarily focuses on commercial space travel. Thanks to the ‘out-of-this-world’ nature of the company’s tech, retail investors have and continue to pile onto the company’s shares. As another member of the meme stock community, investors could be considering SPCE stock now. Considering the stock market’s recent volatility, I can understand why.
Notably, SPCE stock currently trades at $24.86 a share as of 9:54 a.m. ET. This would be after gaining over 15% at today’s opening bell. Accordingly, the current activity in SPCE stock would be thanks to a positive update from the Federal Aviation Administration (FAA). According to the FAA, SPCE is now in the clear to resume its operations after a supposed mishap investigation. After making “required changes” in terms of its communications systems, SPCE can now provide the FAA with real-time mission notifications. Moreover, the company’s latest upgrades would serve to improve the overall quality of its future missions.
By and large, CEO Michael Colglazier had a few things to say in a recent press release by SPCE. According to Colglazier, the current test flight program serves to continually improve the company’s processes and procedures. As SPCE stock continues to surge, would you consider jumping on the company’s shares now?
