These headwinds included a Fed intent on aggressively raising interest rates to bring down stubbornly high inflation. There was also a near shutdown of the initial public offering (IPO) market, as well as a spate of awful layoffs. All of this led to significant share-price declines across the technology sector, including for many of Wall Street’s best tech stocks. Today Broadcom specializes in chips for wireless communications, digital set-top boxes and networking hardware used in data centers and cloud computing. The company’s plans for future growth are focused on artificial intelligence applications, SIP manufacturing and cybersecurity.
As far as funding is concerned, it is typically done either via bank wire, payment services such as Skrill or PayPal, or in some cases you can do it with a credit card. You’ll notice some very familiar and relatively unknown names in this roll call. But when it comes to the potential for investor gains, they all compute. Chip foundries like Taiwan Semiconductor Manufacturing, Samsung, and Intel all use ASML’s EUV machines to manufacture their smallest semiconductors. ASML only ships a few dozen EUV machines every year, but they accounted for 59% of its net bookings last quarter.
- Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
- There are dozens to choose from, but for those just getting started, why not begin with the big dogs?
- Regulators can change the landscape for emerging technologies rapidly when things go wrong.
- All told, cybersecurity shares are currently enjoying a sustainable double-digit growth trend.
Coinbase’s reputation as a leading exchange is essential because crypto is often difficult/impossible to trace, so security is critical. Coinbase can expand in many different ways; it can branch from facilitating crypto trades to basic banking features like spending, saving, and investing. If crypto continues to go mainstream, Coinbase will likely be there for it. Cryptocurrency could still be in its early stages, where both established cryptos like Bitcoin and Ethereum trade alongside speculative cryptos like Dogecoin. Coinbase Global (COIN -3.97%) is a leading cryptocurrency exchange and crypto technology company that could significantly influence the industry as a whole. Building the Metaverse will be a vast undertaking, and Meta is investing at least $10 billion this year alone and expects to invest billions more over the years to come.
Best-performing tech stocks
Companies that provided quick, innovative solutions to a changing world’s problems were handsomely rewarded by the stock market. Tesla’s Gigafactory 2 is located in New York and builds solar cells and components for energy storage and superchargers at the facility. After years of losing money, Tesla’s business is now profitable, and analysts are calling for an average of 37% earnings-per-share growth each year over the next three to five years. Tesla could continue to be an outstanding energy stock for its EV and solar businesses, both of which have room to grow.
- ASML only ships a few dozen EUV machines every year, but they accounted for 59% of its net bookings last quarter.
- As Kafka grew quickly, Kreps, Rao and Narkhede would commercialize real-time streaming solutions with the founding of Confluent (CFLT, $24.64) in 2014.
- In 2022, the memory industry entered one of its worst busts ever, as PC and smartphone demand evaporated in the wake of the pandemic and amid higher interest rates.
- A flurry of ransomware attacks along with a more complex security environment created by a sudden surge in remote work led to a spike in demand for Fortinet’s technology this year.
- This is when LinkedIn employees Jay Kreps, Jun Rao and Neha Narkhede created Apache Kafka, an open-source project.
- The company provides technologies with an eye toward making payments easier and safer in online and in-person formats and driving cashless transactions among consumers, merchants and banks.
So, it’s not surprising that Upstart’s banking partners have quickly increased to 25. Full-year revenue guidance of $750 million represents 221% YOY growth. Plus, UPST stock hit an all-time high of $346.54 in late September. Shares currently hover around $340 and have gained more than 730% so far this year. But it also supports a reasonable valuation for a growth stock that has already reached profitability. In particular, the growth of the metaverse is expected to provide significant tailwinds for edge-computing solutions.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Due to a growing need to move data into the cloud, third-party security solutions providers have seen surging demand for their services. ASAN stock hovers above $110 as of this writing and is up more than 280% this year. Moreover, accelerating top-line growth suggests that Asana could see further best tech stock to buy 2022 gains once market sentiment rotates back to growth stocks. However, ASAN stock trades at a hefty 57 times current sales. Potential investors would find better value around $95 or lower. With that in mind, here are seven of the best tech stocks for growth investors to buy in October.
Arista Networks
Unfortunately, it proved difficult to get cooperation among the two groups. It helps that cybersecurity is one of the most important IT priorities. To this end, Cloudflare has created a huge network that spans over 100 countries and more than 275 cities. Analysts’ consensus ratings are courtesy of S&P Global Market Intelligence. Stocks are listed in reverse order of analysts’ consensus recommendation.
Apple – NASDAQ:AAPL
The tech sector spans a broad array of industries as well as product/service categories, including cloud computing, e-commerce and social media services. This gives investors space to diversify their holdings across a swath of companies big and small. Yet, many investors remain interested in tech stocks — and for good reason. Technology will play a major role in the future, helping to resolve questions about sustainable energy, automation, health care and housing. In the early days of the pandemic, technology stocks were the talk of the town.
The company has continued to invest aggressively in cutting-edge technologies like artificial intelligence. This is the role of Fortinet FortiGuard Labs, whose systems analyze over 100 billion events daily for real-time threat intelligence. The AI technology will help to further bolster the company’s powerful competitive advantages. Coming out of 2020, a year when remote everything became critical during the height of the COVID-19 pandemic, it’s not surprising that tech companies are performing well. Those who were able to invest their pandemic stimulus in the right stocks that year often made out well.
Palo Alto’s revenue, billings, and adjusted earnings growth all accelerated in fiscal 2021, and it expects its revenue to rise another 24%-25% this year, with 16%-18% earnings growth. In its most recent quarter, adjusted revenue rose by 35% from the same quarter last year. Adjusted earnings per share surged by 86% over the same period.
His focus is on breaking down complex financial topics so readers can make informed decisions. He has been featured by CNBC, Fox Business, Bloomberg, and MarketWatch. Perhaps best known as the parent company of Google, Alphabet was created as part of a 2015 restructuring. Google, its crown jewel and also predecessor, was founded in 1998 in Menlo Park, Calif., as a project led by Sergey Brin and Larry Page at Stanford University. In the beginning, Google was a humble search engine, but today it and its parent company have grown to become online advertising and web services behemoths. Onto Innovation (ONTO -1.27%) has arguably an ideal portfolio for the AI age.
“Our fiscal year 2023 results demonstrated a good balance of growth and profitability and further strengthened our balance sheet,” said Rukmini Sivaraman, CFO of Nutanix. One of the best stocks to buy in the security software group, CrowdStrike gapped up on Aug. 31 after the company reported its second straight quarter of accelerating earnings growth. The best stocks to buy and watch boast strong fundamentals along with leading price performance in their industry group.
Alphabet’s other claim to fame is the scary amount of data it collects on users. For users who don’t opt out, Google collects data on everything from who they are and where they go to what they like and what they do online.