Are these the best tech stocks to buy this week? In the first half of this year, 4,444 technology stocks fluctuated in the stock market. If more of this happens in the short term, I won’t be surprised. However, no matter what happens, high-tech stocks are likely to continue to profit for anyone investing in the stock market. As long as you research and determine the company’s competitive advantages, you may benefit in the long run.
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Despite the long-term growth potential, many technology stocks still lag the market in terms of earnings so far. It is easy to forget that these stocks have seen some sell-offs this year. Now, it seems that various technology stocks appear on the stock market today. Many investors seem to be betting on these growth stocks again.
After all, given the fast-paced nature of the industry, the growth momentum of technology companies remains strong. With the pulse of tech stocks reappearing, are these stocks on your watch list today?
Tech Stocks Worth Watching This Week
- Paysafe Ltd. (NYSE: PSFE)
- Micron Technology Inc. (NASDAQ: MU)
- Teladoc Health Inc. (NYSE: TDOC))
- Palantir Technologies Inc. (NYSE: PLTR)
Paysafe Ltd
Paysafe is a leading professional payment company offering services similar to PayPal (NASDAQ: PYPL). However, one thing that sets Paysafe apart from some digital payment providers is its adoption of iGaming. Many people see this as a niche and risky industry, and Paysafe sees it as an opportunity. Now, the company’s digital wallet is suitable for almost all forms of digital gambling. Since David Tepper was given a boost to a new position at the company last month, PSFE shares have been relatively stable.
However, Paysafe shares have shown considerable momentum recently, because the Reddit crowd is betting on Paysafe’s huge downsizing. This urge may not last. However, if you take a close look at the products that the company offers, you will find that the field of online gambling is a market segment that you want to delve into. It is worth mentioning that the company has well-known clients, including Amazon (NASDAQ: AMZN) Twitch, and Bet365. With many top clients squeezing potential short positions on their belts and the Reddit crowd, is it time to go for PSFE stocks?
Micron Technology Inc.
Micron Technology is a company that designs, manufactures, and sells memory and storage products worldwide. Its memory technology is also used in various applications, such as 5G, automotive, mobile, and networking. In the past year, MU’s stock has been among the best in the stock market and has risen by at least 60% during this period. The chipmaker reported a strong second-quarter financial report, and management is also optimistic about its guidance.
It is scheduled to release its third-quarter report on Wednesday afternoon. If anything, the company has already taken full advantage of the huge demand for memory chips and other products. The question that many investors think of now is how quickly Micron can increase production capacity to meet growing demand. Betting on any stock before your earnings report is a risky attempt. That being said, if you are confident in the company’s achievements and optimistic about MU stock, would you invest in Micron stock now?
Teladoc Health Inc.
Teladoc Health is one of the companies that did well with the pandemic. Considering that the large number of telemedicine services provided by the company is still a vital service when restrictions on social activity are implemented, this is not surprising. Considering that its value has dropped approximately 40% since it peaked in February, many investors see this as an opportunity to buy TDOC shares. In fact, the stock is up about 10% in the last month.
The company announced its financial statements for the first quarter on April 28. Among them, the guidance for the whole year increased, and revenue in the first quarter increased by 151% year-on-year to a record US$453.7 million.
One of the reasons for investor optimism is that Teladoc is slowly creating cheaper remote alternatives to replace the inconvenient and inefficient healthcare system we have today. In addition, consulting firm McKinsey & Company estimates that once the pandemic is over, the US virtual care market will approach $250 billion annually. The fact that more and more participants are entering telemedicine proves the market potential here. Teladoc’s strategic exercises over the past few years have consolidated its position as a leader in its field. Therefore, in my opinion, TDOC shares may have a long history of growth going forward.
Palantir Technologies Inc.
Palantir is a software company specializing in big data analytics. In short,
Palantir enables organizations to get the most out of their data. The company may make headlines like meme stocks, but its portfolio of new deals and partnerships are factors to consider when investing in Palantir stock.
Since his recent collaboration with Augmented Intelligence company DataRobot, he will focus on providing retailers with demand forecasting solutions. Considering that traditional supply chains cannot keep up with consumer demand and the pace of changes in transportation logistics, this is exciting news for many retailers. The framework will use existing Palantir software to simplify many business operations. The popularity of meme stock may have increased the stock price, but if you are now considering investing in PLTR stock, a partnership with DataRobot may be a better reason.
Also Read: NASDAQ Stocks to Buy Now
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