1. Microsoft Corporation (MSFT)
Microsoft Corporation stands tall as one of the tech stocks to watch now. As a global powerhouse, Microsoft specializes in developing, licensing, and selling a wide array of services and software products. Centered on innovation, the company’s diversity in its product and service lines, including being the creator of the world’s most widely used operating system- Windows, makes it a compelling choice for investment.
Among the principal factors propelling Microsoft’s growth is the company’s shift of strategy towards cloud computing, with Azure being its flagship product. Microsoft Azure, in competition with Amazon’s AWS, has experienced rapid growth, with a recorded advancement in its sales of over 50% in recent quarters. Also, Microsoft’s business model guarantees recurrent revenue since most of its cloud services are subscription-based.
Apart from Azure, Microsoft Office 365’s switch from software package to cloud-based subscription service, the rise in PC sales bolstered by remote work and online schooling, LinkedIn’s stellar performance, and the escalation of the Microsoft Gaming division with products like the Xbox, further enhance the company’s value proposition.
2. NVIDIA Corporation (NVDA)
NVIDIA, a visual computing company famed for its robust graphics processing units (GPUs), has made its mark in the industry as a viable investment option. NVIDIA GPUs, which initially were instrumental for improving video game graphics, are proving indispensable tools for Big Data processing and Artificial Intelligence (AI) due to their highly parallel structure. This shift has seen NVIDIA evolve beyond a gaming company into a serious player in the tech sector.
Moreover, NVIDIA’s partnerships with several major automotive industry brands to promote autonomous driving further strengthen its market position. With the company consistently investing heaps into Research and Development, they have been successful in releasing innovative products and solutions that are conducive to the needs of various niche markets.
3. Apple Inc. (AAPL)
Leading the market with its sophisticated range of products, Apple Inc. is a juggernaut in the world of technology stocks. From iPhones to iPads to MacBooks to Apple Watches, the company enjoys a loyal customer base that eagerly anticipates each product launch.
Apple’s consistent financial performance and its potential for growth make it an attractive investment option. The tech giant’s ventures into services like Apple Music, iCloud, Apple TV+, and Apple Arcade signify an expansion into the recurring revenue model, much like Microsoft. Plus, Apple’s recent switch to creating its chip, M1, shows that Apple is not just a tech hardware stock but also a semi-conductor company – diversifying its revenue streams.
4. Amazon Inc. (AMZN)
Last but not least, Amazon Inc., a leader in both the e-commerce and cloud services markets, provides a lucrative tech stock opportunity. Despite starting as an online bookstore, today, Amazon is a multi-faced company with operations in cloud services through AWS, digital streaming, artificial intelligence, and more.
Although its e-commerce business continues to see robust growth, the impressive growth rates of Amazon Web Services (AWS), its cloud infrastructure service, magnifies its economic potential. With continuous advancements, such as its drone delivery system and cashier-less stores, Amazon keeps pushing the envelope of technology and innovation, keeping its stock a ‘must-watch’.
The above tech stocks, with their expansion, innovation, and diversities, are arguably some of the best in the current market. Each of them boasts impressive growth trajectories and pioneering developments, making them pivotal for any tech-savvy investor. Despite volatility and market uncertainties, these companies have consistently shown resilience and the ability to leverage technology into commercial success.
