Tech stocks to watch today.
The technology sector is a dynamic part of the stock market, encompassing companies involved in electronics, software, computers, artificial intelligence, and more. These companies range from giants in consumer electronics and software to startups pioneering cutting-edge technologies. Tech stocks are often seen at the forefront of innovation. They drive trends and developments that can shape the future.
Buying tech stocks offers the potential for significant returns as technology continues to evolve and integrate into every aspect of daily life. Many tech companies have demonstrated strong growth through the expansion of digital services, cloud computing, and the Internet of Things (IoT). Their growth potential can be substantial, particularly in areas like artificial intelligence, cybersecurity, and biotechnology.
However, there are disadvantages to consider. The tech sector can be volatile, with stock prices often sensitive to changes in technology trends, regulatory changes, and market sentiment. Additionally, competition is fierce in the tech industry, and companies must continuously innovate to maintain their market positions. This sector’s performance can also be swayed by economic cycles. Which makes it potentially risky during downturns. Investors should weigh these factors against their investment goals and risk tolerance. With that being said, here are two tech stocks to watch in the stock market now.
Tech Stocks To Buy [Or Avoid] Now
- Apple Inc. (NASDAQ: AAPL)
- Palantir Technologies Inc. (NYSE: PLTR)
Apple (AAPL Stock)
Leading off, Apple Inc. (AAPL) is a global technology leader. Apple designs, manufactures, and markets a broad range of consumer technology products, including smartphones, personal computers, tablets, wearables, and home entertainment systems. Its products, such as the iPhone, iPad, and Mac computers, are popular for their integration of hardware, software, and services. Apple also actively engages in digital streaming, financial services, and healthcare technology.
Back In February, Apple reported better-than-expected first-quarter 2024 financial results. Diving in, the tech giant reported Q1 2024 earnings of $2.18 per share, with revenue of $119.58 billion. This is compared to Wall Street’s estimates for the quarter which were earnings estimates of $2.09 per share, and revenue estimates of $118 billion. Additionally, the company said it expects second-quarter earnings to come in between $1.44 to $1.50 per share.
In the last month of trading action, shares of Apple stock are down 2.50%. Meanwhile, during Wednesday’s pre-market trading session, AAPL stock is trading modestly higher by 0.21% at $169.74 a share.
Palantir Technologies (PLTR Stock)
Next, Palantir Technologies Inc. (PLTR) specializes in big data analytics. The company develops software that enables organizations to integrate, manage, and secure data from various sources. Palantir’s platforms, primarily Palantir Gotham and Palantir Foundry, are used by government agencies, financial institutions, and major corporations globally to optimize operations, plan strategies, and prevent fraud.
Just today, Palantir Technologies announced it has been designated as an “Awardable” vendor for the Department of Defense’s Tradewinds Solutions Marketplace. This status applies to two of Palantir’s products, including its AI Mission Command Capability and Predictive Maintenance & Precision Sustainment Suite. These offerings are now available to support critical missions across the DoD. The Marketplace aims to fast-track the procurement of emerging technologies. The Tradewinds Marketplace serves as a digital repository for technologies proven through competitive assessments and ready for immediate adoption by government entities.
Looking at the last month of trading, Palantir Technologies stock has pulled back by 8.83%. While, during Wednesday’s pre-market trading session, shares of PLTR stock are trading higher by 0.82%, at $22.06 per share ahead of Wednesday’s opening bell.
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Originally Posted April 17, 2024 – 2 Tech Stocks For Your April 2024 Watch List
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