Are These The Best Tech Stocks To Buy In September 2020?
The market for tech stocks in 2020 has been trending, to say the least. Top tech stocks that are related to digital services have been reaching new record highs. In fact, US tech stocks are now more valuable than the entire European stock market. A few examples of this include Advanced Micro Devices Inc. (AMD Stock Report) and Adobe Inc. (ADBE Stock Report). These companies both reached new all-time highs in 2020. Tech companies related to digital services or computer hardware have seen the biggest gains in the sector.
Since many people are stuck sitting at home, more enterprise software and online services are being used. In addition to this, more personal computers are being purchased for things like school, gaming, work, and more. These companies have actually seen benefit from the coronavirus pandemic occurring. Investors have been pursuing tech stocks much more in 2020. So let’s look at three tech stocks that have been trending and reaching new highs in the market.
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Top Tech Stocks To Watch In September 2020: Apple Inc.
We all know this first tech stock, Apple Inc. (AAPL Stock Report) If you have been living under a rock, Apple is the largest tech company in the world that produces cell phones, computers, and much more. So let us talk about what Apple has been up to lately. Apple recently announced a 4-for-1 stock split at $125.5 per share. Apple also has been reporting very good numbers in its earnings reports.
AAPL stock reached a new all time high of $137.97 a share on September 2nd. On the same day it did fall 3% at around $130 a share. This new record high still shows the potential that AAPL stock price has in the market. Back in January AAPL stock was at $74 a share so the climb is very real. AAPL stock seems to be on a constant incline with some bad days here and there, yet it always recovers. That is why AAPL stock is certainly a tech stock to watch.
Top Tech Stocks To Watch In September 2020: NVIDIA Corporation
The next tech stock to watch is NVIDIA Corporation (NVDA Stock Report). NVIDIA is a tech company that focuses on producing graphics cards (GPUs) for computers. It also produces other computer hardware products as well. Nvidia announced its new GPU lineup on September 1st of the 3070, 3080, and 3090 cards. These GPUs are less expensive and faster than the previous generation which is unheard of in this market. This caused NVDA stock to uptick as soon as the news was announced.
NVDA stock has seen a massive improvement since the market crash. Before the crash, NVDA stock price was at $270 a share on average. Before the recent announcement, NVDA stock was at $553 a share on average. Post announcement, NVDA stock has gone up to $574 a share on average. This nearly 4% increase shows that people are excited about this new GPU release. If the sales figures are large for these cards, then Nvidia could report positive financials for Q3 & Q4.
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Top Tech Stocks To Watch In September 2020: Cloudera Inc.
The final tech stock to watch is Cloudera Inc. (CLDR Stock Report). Cloudera is a California based company with a focus on data engineering, data storage, machine learning, and more. Cloudera recently announced that it will be participating in financial conferences in the near future. Cloudera is also releasing second-quarter financial results at the end of September 2nd. This could cause an uptick or the opposite depending on the results.
At the start of 2020, CLDR stock was at $11.30 a share on average. Since then, CLDR stock price has grown to $13.35. This is a difference of 18.14% in share price. These upcoming financial results from Cloudera will be telling as to where CLDR stock price will move to. That is why CLDR stock is a tech stock to watch.
What Now
The tech industry seems to be an ever-growing sector of the market. The value of tech stocks is undeniable as they have taken the market by storm. There are always new tech stocks showing up in the market so it is important to do research to know which ones are the best. That is what makes AAPL stock, NVDA stock, and CLDR stock tech stocks to buy or sell in September.
