4 Top Tech Stocks To Watch This Week
As of this week’s opening bell, investors could be eyeing the top tech stocks in the stock market now. After all, tech stocks have and continue to recover from the pullbacks seen earlier this year. In fact, the tech-laden Nasdaq composite is currently up by over 15% year-to-date and gunning towards newer heights. With the wide array of uses for tech in our world today, the industry continues to wow investors across the board. Because of this, it may be wise to keep an eye on the latest movers in the tech world now.
Just last week, Micron Technology (NASDAQ: MU) CEO Sanjay Mehrotra provided a positive update on the semiconductor chip industry. In an interview with CNBC, Mehrotra said that the company is seeing a “healthier and more robust demand environment than ever“. This is mainly thanks to its memory chip tech being used in tandem with semiconductor chips in a wide range of tech industries today. According to Mehrotra, these include the smartphone, automotive, data center, gaming, and industrial markets.
Meanwhile, Chinese tech companies such as Didi (NYSE: DIDI) and Weibo (NASDAQ: WB) continue to make headlines in the stock market today. On one hand, Didi is facing regulatory pressure from the Chinese government due to cybersecurity issues. This would highlight the growing demand for digital security services and provide the top cybersecurity stocks with more momentum. On the other hand, Twitter (NYSE: TWTR) competitor Weibo is reportedly looking to go private via a deal that values it at about $20 billion. With all of this activity in the tech space today, I can understand if investors are keen on tech stocks now. If you are one of them, here are four top tech stocks worth knowing now.
Best Tech Stocks To Watch Today
- Intel Corporation (NASDAQ: INTC)
- BlackBerry Inc. (NYSE: BB)
- Salesforce.com Inc. (NYSE: CRM)
- CrowdStrike Holdings Inc. (NASDAQ: CRWD)
Intel Corporation
Intel is an industry leader in creating world-changing technology. Specifically, it continues to advance the design and manufacturing of semiconductors to help address its customers’ greatest challenges. By investing in cloud, network, edge, and every kind of computing device, it continues to transform business and society for the better. INTC stock currently trades at $56.16 as of 3:09 p.m. ET. Last week, the company showcased how it will be extending its lead in high-performance computing (HPC).
Its next-generation of Intel Xeon Scalable processors will integrate high bandwidth memory. On top of that, the company says that its processors are the most widely deployed compute architecture in the world’s supercomputers, enabling global medical discoveries and scientific breakthroughs. In detail, Intel says that it will be announcing advances in its Xeon processor for HPC and AI as well as innovations in memory, software, exascale-class storage, and networking technologies for a range of HPC use cases. Given the excitement surrounding this piece of news, will you consider watching INTC stock?
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BlackBerry Ltd.
BlackBerry provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500 million endpoints including more than 195 million in cars. By leveraging AI and machine learning, it delivers innovative solutions in areas of cybersecurity, safety, and data privacy. BB stock currently trades $12.03 as of 3:11 p.m. ET and has been up by over 80% year-to-date. On June 24, the company reported its first-quarter financials for the fiscal year 2022. Total company revenue was $174 million. A significant chunk of this revenue came from its cybersecurity segment, at $107 million.
CEO John Chen had this to say, “This quarter we aligned the business around the two key market opportunities – IoT and Cyber Security. In IoT, we are pleased with the strong progress of the auto business, despite global chip shortage headwinds. Design activity remains strong, the number of vehicles with QNX software embedded has increased to 195 million, and royalty revenue backlog grew by 9% year-over-year.”
The company also gave a few business highlights and strategic announcements. Notably, Volvo Group had selected BlackBerry QNX operating system and hypervisor for its Volvo Dynamic Software Platform. It also announced BlackBerry Optics 3.0, its next-generation cloud-based endpoint detection and response (EDR) solution. With so many things happening to the company, will you watch BB stock?
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Salesforce.com Inc.
Salesforce is a tech company that focuses on customer relationship management (CRM) service. It also provides a complementary suite of enterprise applications focused on customer service. Impressively, the company has been consistently ranked as the world’s #1 CRM platform. More than 150,000 companies use its platform to grow their businesses by strengthening customer relationships. Also, Salesforce’s CRM will help companies understand their customers’ needs by better managing customer information and interactions. CRM stock currently trades at $249.95 at 3:11 p.m. ET.
On June 23, 2021, the company announced an expansive partnership with Amazon (NASDAQ: AMZN) Web Services (AWS). The partnership will make it easy for customers to use the full set of Salesforce and AWS capabilities together to quickly build and deploy powerful new business applications that accelerate digital transformation. It will also drive customer value through new and enhanced unification between the two companies. With that in mind, will you consider watching CRM stock?
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CrowdStrike Holdings Inc.
Following that, we will be taking a look at industry-leading cybersecurity company, CrowdStrike Holdings Inc. In short, the company’s cybersecurity portfolio boasts a wide array of relevant software solutions for its users in today’s increasingly digital world. The likes of which include its cloud workload and endpoint security, threat intelligence, and cyberattack response services. More importantly, CRWD stock is currently looking at gains of over 150% in the past year. With the company’s shares trading at $263.49 a stock as of 3:13 p.m. ET, would it have more room to run?
If anything, Canaccord Genuity’s Michael Walkley appears to believe so. The analyst recently reiterated a Buy rating on CRWD stock, backing it with a $280 price target. Walkley argues that CrowdStrike is a “long-term secular winner in security due to its native cloud platform advantage” over its peers. Adding to that, a recent security software market analysis by Gartner Inc. (NYSE: IT) supports this stance. Namely, CrowdStrike is now among the top three names in the endpoint protection platform industry in terms of market share.
Furthermore, CrowdStrike received two key awards from Amazon’s AWS last week. The awards are in recognition for “Best Cybersecurity solutions” and for “Independent Software Vendor of The Year”. With some of the top names in tech recognizing CrowdStrike’s work now, will you be watching CRWD stock?
