Tech stocks to watch in the stock market today.
The technology sector is a dynamic component of the stock market, characterized by companies involved in electronics, software, computers, artificial intelligence, and other technological innovations. This sector is popular among investors due to its potential for high growth and innovation-driven gains. Tech companies range from giants like Amazon (NASDAQ: AMZN) and Netflix (NASDAQ: NFLX) to smaller startups, providing a broad spectrum of investment opportunities.
Investing in tech stocks offers several advantages, such as the potential for substantial growth and exposure to innovative products and services that can transform industries. Many tech companies are at the forefront of advancements like cloud computing and AI, driving new market opportunities. However, there are also disadvantages, including high volatility and valuation concerns. Tech stocks can be highly susceptible to market sentiment, regulatory changes, and economic shifts, leading to significant price fluctuations.
Overall, buying tech stocks requires careful consideration of risk tolerance and market trends. While the sector offers opportunities for significant returns, it demands close attention to company fundamentals and broader technological trends. Investors should be prepared for potential rapid changes in both technology and stock prices. With that, here are two tech stocks to watch in the stock market today.
Tech Stocks To Consider Now
Apple (AAPL Stock)
Apple Inc. (AAPL) is a global leader in technology that designs, manufactures, and markets a wide range of consumer electronics, software, and online services. Renowned for its innovative products such as the iPhone, iPad, and Mac computers, Apple also offers services like the App Store, Apple Music, and iCloud. The company is known for its high-quality design, proprietary ecosystem, and strong brand loyalty among consumers.
This week, Apple reported better-than-expected second-quarter 2024 financial results. Getting straight to it, the tech giant notched in earnings of $1.53 per share, with revenue of $90.75 billion. For context, Wall Street’s estimates for the quarter were earnings of $1.51 per share, on revenue estimates of $89.79 billion. Additionally, the company said on its conference call its expectations for its third-quarter 2024 earnings to come in between $1.28 to $1.34 per share, with revenue estimates of $83.84 billion.
During Friday morning’s trading session, shares of AAPL stock opened higher up 5.96%, currently trading at $183.38 a share.
Microsoft (MSFT Stock)
Next up, Microsoft Corporation (MSFT) is a major force in the technology sector, primarily known for its software products. Microsoft’s offerings include the Windows operating systems, the Microsoft Office suite, and the cloud computing service Azure. Additionally, Microsoft owns and operates LinkedIn, Xbox, and has a significant presence in the personal computing hardware market with devices like the Surface.
At the end of last month, Microsoft also reported better-than-expected third-quarter 2024 financial results. In detail, the company posted Q3 2024 earnings of $2.94 per share, with revenue of $61.86 billion. This was versus analysts’ estimates for the quarter, which were earnings estimates of $2.81 per share, on revenue estimates of $60.77 billion. In addition, revenue increased by 17.03% versus the same period, the previous year.
Meanwhile, during Friday morning’s trading session, Microsoft stock opened higher up 1.72%, currently trading at $404.67 per share.
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Originally Posted May 3, 2024 – 2 Tech Stocks For Your May 2024 Watchlist
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