Is This The Best Tech Stocks To Invest Today?
In a world increasingly dependent on technology, it makes sense that investors are considering tech stocks in today’s stock market. Although there are impending headwinds in the form of rising interest rates, tech firms continue to evolve and grow. Whether it’s consumer tech, semiconductor, fintech, or even software-as-a-service (SaaS) companies, it’s understandable. Sure, while tech stocks may seem to be breathing this year, investors looking to expand their tech portfolios may see opportunities.
Get it Meta Platforms (NASDAQ: FB) at Nvidia (NASDAQ: NVDA) for example. Last week, the duo were currently working on developing a massive artificial intelligence (AI) research supercomputer today. According to Nvidia, AI Research SuperCluster (RSC), is already diligent in training new models to advance AI. When Meta’s RSC is fully deployed, it will be the largest customer system of Nvidia’s DGX A100 systems. With the current move, Meta expects to introduce “completely new AI systems, ”Which can provide services on a large scale. For example, this could include real-time voice translations to very large groups of people, each speaking a different language.
Of course, this is just one prime example of the tech industry’s tireless efforts to grow and thrive. On the whole, tech firms are also mostly seeing the green in their latest quarterly earnings reports. Even today, tech goliath Alphabet (NASDAQ: GOOGL) is scheduled to host the latest earnings call after the closing bell. On the whole, investors have a lot of remarkable tech stocks to choose from in the stock market today. With all that in mind, here are three top tech stocks to watch on the market this week.
Top Stocks for Sale [Or Sell] In February 2022
Service Today
Service Today is a tech company that provides cloud-based platforms and solutions that help digitize and unite organizations. This will help them find faster and smarter ways to make the work flow. Its Now Platform enables companies to transform their businesses with workflows that optimize productivity and stability. Furthermore, it generates connected cross-enterprise workflow apps very quickly.
On January 26, 2022, the company announced their fourth financial quarter ending December 31, 2021. In the dive, subscription revenues for the quarter were $ 1.52 billion for the quarter, representing a 29% year-over-year growth. The current outstanding performance obligations for the quarter were $ 5.7 billion, a 29% year-over-year increase.
The company also reported that it exceeded the high end of the guideline on all metrics for the fourth quarter of 2021 and expects strong subscription revenue growth in 2022. “We again report results that are more successful in high end expectations, ”said ServiceNow President and CEO Bill McDermott. “Customer demand for the innovative ServiceNow platform is stronger than ever. Because of our unique culture, we are one of the best places to work. We’re growing like a fast -moving startup with the profitability of a global market leader. ”Given this news, is NOW stock worth investing in?
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Lam Research
Next on this list, we have Lam Research, a tech company that is a supplier of wafer fabrication equipment and related services to the semiconductor industry. In fact, the company’s equipment and services allow customers to build smaller and better-performing devices. Also, its technology is on almost every advanced chip on the market today.
Recently, the company also reported its quarter in December 2021. First, revenue for the quarter was $ 4.23 billion. The total margin was $ 1.97 billion or 47% of revenue. Second, the company also reported net income of $ 1.19 billion, or $ 8.44 per diluted portion. The company also finished the quarter with $ 5.6 billion in cash and cash equivalents. This increase was primarily a result of $ 1.4 billion of cash generated from operating activities.
Last month, the company also announced Syndion GP, a new product that provides deep silicon etch capabilities to chipmakers to build next -generation power devices and power management integrated circuits. These circuits are important for the automotive and energy industries. As the demand for special devices continues to grow rapidly, the Syndion GP is designed to support the precision manufacturing process and can be configured to produce devices in 200 mm and 300 mm wafer sizes, which provides a simplified path of transition towards higher capacity. All things considered, is LRCX stock a buy?
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Visa
Top of our list today is Visa. For most, it is one of the top fintech players in the world today. In practice, Visa facilitates electronic funds transfers around the world. Its likes happen through its Visa-branded credit, debit, and prepaid cards. For size, Visa supports more than 215 billion payment transactions in more than 200 countries around the world annually. As the world continues to rely on Visa, the V stock can be noticed in the stock market today.
For one thing, the company posted stellar numbers in its latest quarterly financials update last week. Here, Visa posted earnings of $ 1.81 per share, topping the consensus estimates of $ 1.70. Moreover, the company also earned record revenue of $ 7.06 billion for the quarter, topping forecasts of $ 6.79 billion. According to CEO Alfred Kelly, the current rebounds in e-commerce and travel spending are to thank the company’s current performance. Hopefully, Visa sees the global economy continuing its recovery and it believes it is well positioned to deliver strong results.
Not to mention, the company also continues to expand its network of partners. Late last week, it was already working on XTM, a fintech based in Miami and Toronto. Through the current “Partner Agreement”, XTM will launch a Visa debit card into its Today Program. In other words, XTM’s Today Program provides Earned Wage and Gratuity services to hospitality and personal care service workers across Canada. Because of this deal, Visa will contribute to actively pushing it into US markets. With Visa appearing to be gaining momentum now, will V stock be the top buy on your books?
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