Are These Tech Stocks On Your Watchlist?
Tech stocks grow when more technological advances are made. Tech stocks could apply to a large variety of different companies. That being said, tech stocks that focus on digital have been on the rise. Currently, online services are more relevant than ever in our lives. Especially while most are stuck at home due to the coronavirus pandemic.
As an example, tech companies with a focus on home use products have been on the rise. Things like TV’s, gaming consoles, and more are in high demand. Tech stocks who sell products like that have seen increases in share price. This has investors looking at tech companies press releases lately.
It’s unsure what will happen to these tech stocks when the economy reopens. What we do know is that many tech stocks are taking off due to the current world climate. Some tech stocks have even made a full recovery in the share price. Let’s take a look at two trending tech stocks making moves in the market.
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Top Tech Stock To Watch In June: Panasonic
The first tech stock to talk about is Panasonic Corporation (PCRFY stock report). Panasonic has been creating electronics since 1918. The company is now one of the largest Japanese electronics producers. Panasonic started a 3 year deal with Tesla (TSLA stock report) on June 16th. This deal is for Panasonic to manufacture and supply lithium-ion battery cells for Tesla. This will take place at Tesla’s Nevada Gigafactory. Evidently, PCRFY stock was affected by this new three-year partnership.
This deal caused PCRFY stock price to rise up. PCRFY stock was at $8.80 a share on average before the deal. Once the news was announced on June 16th, PCRFY stock price rose to $9.24 a share on average. This 5% increase in PCRFY stock made it clear that its deal with Tesla will be good for the company.
It was thought that the Tesla Panasonic partnership was coming to a close. This is due to Tesla producing some of its own batteries. This three year deal made it evident that it is not coming to a stop anytime soon. Good news regarding this deal with Tesla means PCRFY stock price going up.
[Read More] 2 New Automotive Stocks To Watch In 2020
Top Tech Stock To Watch In June: Oracle
The next trending tech stock on this list is Oracle Corporation (ORCL stock report). Oracle sells software, cloud systems, and more. As of 2019, it is the second-largest software company in the world by revenue. It is also the second-largest software company by market capitalization. Oracle was founded in 1977 and has made many advancements in the tech sector since its start. ORCL stock has almost made a full recovery in the share price.
ORCL stock fell like most other stocks when the market crashed in late February and early March. The company’s stock price was at $55 a share before everything came crashing down. But now ORCL stock is at $51.85 a share on average on June 17th, just a few dollars short of its former price. On June 16th ORCL stock price even reached $54 a share. It saw a small dip because of analysts being unsure about its financials. Still, ORCL stock seems to be going strong once again after the economic effects of the world.
What Now
We’ve seen how ORCL stock and PCRFY stock have moved upwards in the market. Tech stocks are volatile but if they have solid financials they will strive in the market. These two tech stocks are just an example of how many have been able to recover from the economic crash. With technology always advancing, it will be interesting to see where these tech stocks go from here.
