Tech stocks to watch today.
The technology sector is a dynamic area of the stock market. It features companies involved in the development, production, and distribution of technology and related services. These companies range from giants like Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) to startups focusing on next-generation technologies. Investing in tech stocks often appeals to those seeking growth. As the sector frequently outpaces the overall market in terms of revenue and earnings growth due to continuous innovation.
However, investing in tech stocks comes with its set of risks and rewards. One major advantage is the potential for high returns, as many tech companies lead in innovation and market disruption, which can lead to significant stock price appreciation. On the downside, tech stocks can be highly volatile and susceptible to market cycles. They often trade at high valuation multiples, making them sensitive to changes in investor sentiment and market conditions. Additionally, rapid technological change can quickly make a company’s products or services obsolete.
In conclusion, buying tech stocks requires a keen understanding of the sector’s trends and the specific business models of the companies. While the potential for growth is significant, the risks related to competition, regulation, and market saturation should not be underestimated. Investors should consider their risk tolerance and investment horizon when allocating part of their portfolio to tech stocks. If this has you keen on investing in the tech sector, here are two tech stocks to watch in the stock market today.
Tech Stocks To Consider Today
- Adobe Inc. (NASDAQ: ADBE)
- Qualcomm Inc. (NASDAQ: QCOM)
Adobe (ADBE Stock)
Adobe Inc. (ADBE) is a multinational software company known for its creative and multimedia products. They develop and sell a wide range of software tools for digital media creation, including photography, video editing, and web development. Adobe’s most well-known products include Photoshop, Illustrator, and the Portable Document Format (PDF).
Earlier this month, Adobe announced the general availability of Adobe Journey Optimizer (AJO) B2B Edition. This new tool, designed for businesses selling to other businesses, utilizes generative AI to enhance customer engagement and promote profitable growth. It targets the challenges of B2B marketing, such as identifying decision-makers and personalizing marketing strategies across various channels. AJO B2B Edition integrates with Adobe Experience Platform to provide a unified customer view and employs AI to craft personalized content and identify buying groups effectively.
Over the last six months, shares of Adobe stock have gained by 3.95%. With that, during Thursday’s lunchtime trading session, ADBE stock are trading down on the day by 1.25% so far, currently trading at $558.72 a share.
Qualcomm (QCOM Stock)
Next up, Qualcomm Inc. (QCOM) is a global technology company that specializes in the design and manufacture of semiconductor and telecommunications equipment. They are particularly known for their development of wireless technology standards and mobile processors. Qualcomm’s technologies are widely used in smartphones, tablets, and other wireless devices across various brands.
At the end of last month, Qualcomm announced its third quarter 2024 financial and operating results. Diving right in, the company notched in Q3 2024 earnings of $2.46 per share, along with revenue of $9.39 billion. This is compared to consensus estimates which were earnings of $2.25 per share, and revenue estimates of $9.19 billion. Additionally, the company reported that revenue increased by 11.15% versus the same period, the prior year.
In the last six months, shares of Qualcomm stock are up 10.22%. Moreover, during Thursday’s early afternoon trading session, QCOM stock has dropped by 2.07% on the day, trading at $170.58 a share.
—
Originally Posted August 22, 2024 – 2 Tech Stocks To Watch In Late August 2024
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from StockMarket.com and is being posted with its permission. The views expressed in this material are solely those of the author and/or StockMarket.com and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.