Are these two tech stock good long-term stocks to watch now?
Tech stocks have been on the rise in recent years, as more and more people are investing in the latest and greatest technology. This trend shows no signs of slowing down, as new innovations are constantly being made in the tech world. Some of the most popular tech stocks include Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Microsoft Corporation (NASDAQ: MSFT).
These companies are leaders in their respective fields, and their stock prices have reflected this. investors who are looking to make a profit. Tech stocks can be a great investment for those who are willing to take a risk, as they have the potential to generate a lot of growth. However, it is important to remember that the tech sector is also very volatile, so it is important to do your research before investing. Considering this, here are two large-cap tech stocks to watch in the stock market today.
Tech Stocks To Watch Now
- Intuit Inc. (NASDAQ: INTU)
- Alphabet Inc. (NASDAQ: GOOGL)
1. Intuit Inc. (INTU Stock)
Starting off, Intuit Inc. (INTU) is a global financial technology company. The company currently has over 100 million customers across the globe that use its family of software. This includes popular platforms like QuickBook, TurboTax, Credit Karma, and Mailchimp.
INTU Recent Stock News
In November, Intuit announced that it reaffirms its operating income and EPS forecast for the fiscal year 2023. Diving in, the company said it expects to report results for Q1 2023 on November 29, 2022. They also said that they are expecting to report 1st quarter of 2023 above the guidance that it provided at its Investor Day back on September 29, 2022.
The company’s CEO Sasan Goodarzi stated, “We continue to be bullish on our small business and tax businesses, which made up 86 percent of our revenue last year, and we expect each of these segments to meet our previously issued revenue guidance for the year as we continue to accelerate innovation across the company.”
INTU Stock Chart
On Friday, shares of INTU stock closed down 1.04%. Meanwhile, INTU stock is set to open Monday morning’s trading session at around $361.19 a share.
Source: TD Ameritrade TOS
2. Alphabet (GOOGL Stock)
Next, Alphabet Inc. (GOOGL) is an American multinational conglomerate, notably the parent company of Google. The company is best known for its flagship product, Google Search, as well as for developing and owning such notable products and services as YouTube, and Android among others.
GOOGL Recent Stock News
Just last month, the tech giant reported a miss for its 3rd quarter 2022 financial results. Specifically, Alphabet reported earnings of $1.06 per share, along with revenue of $69.1 billion for the third quarter of 2022. This is compared to the street’s consensus estimates, which were earnings of $1.25 per share, and revenue estimates of $71.0 billion.
Ruth Porat, CFO of Alphabet and Google, said: “Our third quarter revenues were $69.1 billion, up 6% versus last year or up 11% on a constant currency basis. Financial results for the third quarter reflect healthy fundamental growth in Search and momentum in Cloud, while affected by foreign exchange. We’re working to realign resources to fuel our highest growth priorities.”
GOOGL Stock Chart
Meanwhile, Alphabet stock is going into the new trading week after closing Friday’s trading session up 3.78%. With that, shares of GOOGL stock are set to open Monday’s trading session at around $86.58 a share.
Source: TD Ameritrade TOS
–
Originally Posted November 6, 2022 – 2 Tech Stocks To Watch In November 2022
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.
