No doubt, tech stocks have been among the most exciting stocks to invest in across the stock market. As the broader market appears to be recovering from its recent weakness, some investors see this as an opportunity to scoop up some bargains. Unless you have been living under a rock, you would know why the stock market was down yesterday. This was partly to do with China Evergrande (OTCMKTS: EGRNF), a property developer drowning in debt and is on the brink of default.Why Was The Stock Market Down?
For the most part, stocks were down because of heavy speculation. Adding more uncertainty in the stock market is the Fed’s meeting starting today. A lot of the attention will be on the Fed’s taper schedule. While the tapering schedule is important, it’s unlikely anything will be set in stone anytime soon. Instead, it is the growing concerns from China Evergrande that are stoking fears among investors. Adding more uncertainty is the fact that Beijing remains passive on whether it will lend a helping hand to its biggest property developer.
Another company that has been under pressure recently is Alibaba (NYSE: BABA). The e-commerce company has struggled this year due to tightening government regulations. The good news here is, investors don’t have to look too far for stocks to buy. There are household names closer to home that could also bring attractive returns. With all of this in mind, could these five tech stocks help you make money in the stock market today?Best Tech Stocks To Buy [Or Avoid] Right Now
- BlackBerry Ltd. (NYSE: BB)
- Virgin Galactic Holdings Inc. (NYSE: SPCE)
- Etsy Inc. (NASDAQ: ETSY)
- Thermo Fisher Scientific Inc. (NYSE: TMO)
- Netflix Inc. (NASDAQ: NFLX)
A lot has changed since the days of BlackBerry smartphones. These days, BlackBerry is in the cybersecurity business where demand is, arguably, at an all-time high. The company provides intelligent security software and services to enterprises and governments around the world. As you may be aware, Microsoft (NASDAQ: MSFT) participated in a meeting at the White House last month regarding the need to address cybersecurity threats as a country. With BlackBerry as a partner, a lot of focus will be on BB stock moving forward.
If anything, that is a great testament to BlackBerry’s cybersecurity capabilities. Other positive catalysts include the increased proliferation of BlackBerry’s systems in China’s automotive space. BlackBerry is also set to report its earnings after the stock market closes today. With all that in mind, is BB stock a buy ahead of its earnings report?Source: TD Ameritrade TOS Virgin Galactic
After SpaceX completed its all-civilian mission to space, it reinvigorated investors’ interest in space stocks. We all know that an investment in space is hard, but investors are betting that Virgin Galactic could reach orbit one day. The company is among the key players in the space tourism industry now. Through its operations, Virgin Galactic is actively developing and refining its advanced air and space vehicles. By the company’s estimates, commercial flights could start as early as 2022 as more test missions are carried out. If you believe in the potential of the space travel industry, it is never too late to dip your toes in this space.
Wall Street seems to agree on this. Analysts at both Cowen and Jefferies Group reiterated their confidence in SPCE stock as an investment. The former continue to view Virgin Galactic as an important leader in the commercial space flight industry, Meanwhile, Jefferies is confident that it will carry more than 2,000 space tourists to the edge of space every year, generating in excess of $1.2 billion in revenue per year. Given all this, would this make SPCE stock a top tech stock buy right now?Source: TD Ameritrade TOS Etsy
Next up, we have an e-commerce company, Etsy. The company operates two-sided online marketplaces that connect over 90.5 million buyers and 5.2 million sellers around the world. Etsy.com is currently the 4th largest e-commerce site by monthly visits in the U.S. Etsy also owns the Reverb, Elo7, and Depop platforms. With the rising demand for e-commerce services, ETSY stock could be a tech stock to watch.
The company could still have room to grow moving forward. Depop and Elo7 further extend Etsy’s total available market opportunities in resale, a large and fast-growing apparel segment, and in Brazil, Latin America’s largest e-commerce market. It has a total addressable market of $1.7 trillion across all key categories. This presents considerable potential for the company to raise its top line. The company also posted solid figures in its recent fiscal quarter raking in revenue of $528 million, a 23% year-over-year growth. Given all this, could ETSY stock be a top pick for you?Source: TD Ameritrade TOS
[Read More] 4 Semiconductor Stocks To Watch Right NowThermo Fisher Scientific
Following that, we have a scientific instruments maker, Thermo Fisher Scientific (TMO). The company offers its products and services through various brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, and Pantheon. TMO stock has been trading sideways for the first half of the year but has been steadily rising since the start of June. In fact, TMO rallied to a record high on Friday. So, what happened?
The bullish movement on TMO can be attributed to its recent optimistic forecast for fiscal 2022. The company provided EPS guidance of $21.16 on $40.3 billion in revenue. This blew past analyst EPS estimates of $19.68. In line with that, the company recently announced plans to establish the world’s largest single-use technologies (SUT) products manufacturing site. This will more than double the company’s SUT manufacturing capacity to address the unprecedented demand in the bioprocessing market. All things considered, would you buy TMO stock?Source: TD Ameritrade TOS Netflix
To sum up the list, we have pure-play video streaming stocks, Netflix. Being the leader of the streaming pack, the company offers a plethora of top-quality content to over 209 million subscribers. As the economy recovers and people are stepping outdoors again, the question here is, could Netflix continue to grow? Looking at its recent quarterly result, Netflix has shown a slowdown in growth.
It’s certainly not a death knell for Netflix. In fact, Netflix remains the world’s most popular on-demand video platform. Sure, the pandemic-driven subscriber surge is certainly a tough act to follow. But then again, Netflix will do just fine even if subscriber and revenue growth slows considerably. With its established leadership in the streaming space, the company can reinvest its cash profits into more content creation efforts. That way, NFLX stock could still be a big winner at the end of the decade.Source: TD Ameritrade TOS