5 Top Tech Stocks To Watch In The Stock Market Today
While investors ponder about what stocks to buy today, I could see tech stocks moving in the stock market. Why? Well, tech investors received some positive news yesterday from Federal Reserve Chairman Jerome Powell. At the end of the two-day meeting, it was revealed that the Feds would keep its benchmark interest rate close to zero. Moreover, central bank officials also noted that the next hike could come in 2023. Could the worst of investors’ interest rate fears be over for now?
If anything, CNBC’s Jim Cramer seems to believe so. The Mad Money host suggests that investors should stick their strategies and “buy some high-quality stocks” amidst the current dips. Adding to that, he also believes that industrials and tech stocks could have “a lot more room to run“. Indeed, all this would put some of the top tech stocks in the stock market today in focus.
While this is great news for the tech industry, tech companies have and continue to make massive strides regardless. Notably, tech giants like Google (NASDAQ: GOOGL) and Baidu (NASDAQ: BIDU) are making plays this week as well. In Google’s case, the company provided consumers a sneak peek inside its first-ever physical retail store in New York. This would appeal to customers looking for support for their Google products. Meanwhile, Baidu is looking to build 1,000 driverless cars over the next three years. The likes of which would serve to commercialize autonomous taxis on a mass scale in China. As you can see, there is no shortage of exciting developments in the tech world today. With that in mind, could one of these five trending names be worth knowing now?
Best Tech Stocks To Buy [Or Avoid] In June
- The Trade Desk Inc. (NASDAQ: TTD)
- Marathon Digital Holdings (NASDAQ: MARA)
- Palantir Technologies Inc. (NYSE: PLTR)
- Dell Technologies Inc. (NYSE: DELL)
- ServiceNow Inc. (NYSE: NOW)
Trade Desk Inc.
Trade Desk is a global technology company that markets a software platform. Its platform empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices.
Also, the company allows integrations with major data, inventory, and publisher partners to ensure maximum reach. TTD stock currently trades at $62.53 as of 2:27 p.m. ET. The share has just undergone a 10-for-1 stock split.
On Wednesday, the company has just launched its operations in India, as well as appointed Tejinder Gill as the company’s India General Manager. Tejinder will lead the company’s business and growth strategy in India, helping Indian brands and publishers unleash the full potential of the open internet. The digital space is the fastest-growing advertising segment in India and Trade Desk could capitalize on this opportunity. For this reason, will you consider adding TTD stock to your portfolio?
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Marathon Digital Holdings Inc.
Marathon is a company that focuses on digital asset technology. Specifically, it mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. Its main operations are at its proprietary Data Center in Hardin MT, with a maximum power capacity of 105 Megawatts. It projects to have a mining fleet of over 103,000 miners with a hash rate of 10.36 EH/s once it is fully deployed. MARA stock currently trades at $30.09 as of 2:27 p.m. ET.
On Tuesday, the company announced that it will join the Russell 2000 Index. In detail, Marathon will join the Russell 2000 Index after the 2021 Russell indices’ annual reconstitution, effective after the U.S. stock markets open on June 28, 2021.
The company says it expects the inclusion in the index to increase its visibility within the greater investment community, which would benefit both new and existing shareholders. Given the excitement surrounding the company, will you add MARA stock to your watchlist?
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Palantir Technologies Inc
Palantir is a software company that focuses on big data analytics and cybersecurity. It builds enterprise data platforms for organizations with complex and sensitive data environments. Unsurprisingly, the company actually serves many industries. This would range from building safer cars and planes to discovering new drugs and combating terrorism. PLTR stock currently trades at $25.16 as of 2:28 p.m. ET.
In late May, the company announced that it has been selected by the U.S. Special Operations Command (USSOCOM) to continue its work as its enterprise data management and AI-enabled mission command platform. In brief, Palantir was awarded a $111 million contract, which includes a base year and one option year.
“Our partnership with USSOCOM was one of our first in the U.S. military, and we are honored to keep providing technology that gets the job done while we partner on the future of what is possible,” said Doug Philippone, Palantir’s Global Defense Lead. All things considered, will you buy PLTR stock?
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Dell Technologies Inc.
Another major player in the tech space to know now would be Dell Technologies Inc. For the most part, Dell is a household name for many now. The company’s portfolio includes personal computers, digital acceleration services, and cloud storage solutions to name a few.
Given the current trajectory of organizations towards the digital space, Dell’s services would be in high demand now. Evidently, the company recently posted a record quarter in terms of revenue thanks to continued strength across its core divisions.
While Dell’s main business segments continue to ride industry tailwinds, the company is not sitting idly by. Earlier today, it was revealed that Dish Network, a major U.S. connectivity company, will be working with Dell. Specifically, Dish is planning to tap Dell’s offerings for its new U.S. 5G network. Together with the likes of Nokia (NYSE: NOK), the current project is looking to cover 70% of the U.S. population by mid-2023. With Dell a part of this ambitious collaboration, would you consider DELL stock worth investing in?
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ServiceNow Inc.
Following that, we have ServiceNow Inc. In brief, the California-based software company manages and operates its proprietary cloud computing platform. Through said platform, ServiceNow aids organizations manage their digital workflows. As organizations continue to shift towards digital offices, digital workloads would also be growing. Accordingly, I could see investors eyeing NOW stock because of this.
For one thing, it has been an exciting time for ServiceNow recently. Firstly, NOW stock was revealed to be on Goldman Sachs’ (NYSE: GS) conviction buy list. Last week, GS analyst Kash Rangan suggested that ServiceNow’s customer base will likely grow moving forward. On the operational front, ServiceNow is now working with cybersecurity company Zscaler (NASDAQ: ZS) for its remote access security needs.
According to Zscaler, ServiceNow users have access to zero-trust connectivity, providing more comprehensive digital security solutions. These would decrease the burden of security teams, making them more efficient. With ServiceNow seemingly firing on all cylinders, could NOW stock be a top buy for you?
