Power Hour Stocks to Buy Today? 4 tech names to watch out for

By Patrick Centeno On Oct 21, 2021

Are these cutting edge stocks on your watch list today?

Even though the broader stock market is lingering at record highs today, tech stocks remain viable games. After all, the current dependence on industry across the world continues to grow regardless of current market conditions. This is evident as organizations use cutting edge technologies such as Artificial Intelligence (AI), Internet of Things, and 5G networks, among others, to further refine their businesses. Not to mention, there is also the consumer side of the industry which is often the center of attention during this time of year.

For example, we could examine the likes of Nvidia (NASDAQ: NVDA). Earlier today, the company launched the latest version of its GeForce Now cloud gaming service. With the capabilities of its flagship RTX 3080 server-built graphics processing unit, Nvidia seems to be targeting the game streaming industry. The current move would meet the needs of gamers on a budget, allowing them to play the latest games without having to invest heavily in high-end gaming hardware. In theory, Nvidia can fill this market gap through its GeForce Now subscription service.

Plus, while the tech equity market is huge, it still seems to have a lot of room to grow. To know, We work (NYSE: WE), a commercial real estate company that provides physical and virtual office services went public earlier today. Given the relevance of digital workspaces amid the pandemic, this could be another entry point for investors in the tech industry now. Overall, tech stocks seem more active than ever. Could any of these companies be the first choice of the stock market now?

The best tech stocks to watch right now

PayPal Inc.

Let’s start with Pay Pal, a technology company at the forefront of the digital payments revolution. By using its platform, the company makes financial services and trading more convenient and secure. In addition, it helps more than 400 million consumers and traders around the world. In its latest financial statements for the quarter, for example, the company says there were more than 4.7 billion payment transactions made in the quarter for a total payment volume of $ 311 billion. PYPL stock is currently trading at $ 244.92 at 1:58 p.m. ET.

On Wednesday, the company was in late-stage talks to acquire Pinterest (NYSE: PINS). PayPal has discussed acquiring the company for a potential price of around $ 70 per share, which would value Pinterest at around $ 39 billion, according to Bloomberg. This strategic PayPal game could come from competitive pressure from companies like Shopify (NYSE: SHOP). Despite this, PayPal has also profited from the pandemic, as online shopping has exploded around the world since last year. Given this exciting news, should investors add PYPL stocks to their tech equity portfolio?

Source: TD Ameritrade CGU

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Micron Technology Inc.

Micronic technology is a company that produces computer data storage and memory. Its rich portfolio of high-performance DRAM, NAND and NOR memory and storage products are used in billions of computers around the world. The company is also innovating to enable advancements in AI and 5G applications. MU stock is currently trading at $ 67.79 each at 1:58 p.m. ET and has risen over 25% in the past year alone. Yesterday the company announced some exciting news.

Diving in, Micron announced plans to invest more than $ 150 billion globally over the next decade in cutting-edge memory manufacturing and R&D. This would include a potential expansion of factories in the United States. Micron’s investment will meet the growing demand for memory that is critical to all computing.

“Memory is at the forefront of semiconductor manufacturing and powers everything from feature-rich 5G smartphones to the AI-enabled cloud,Said Micron President and CEO Sanjay Mehrotra. He also says the company looks forward to working with governments around the world, including the United States, where CHIPS funding and the FABS law would open the door to further investment in the industry as it considers sites. to support future expansion. For this reason, will you consider adding MU stocks to your portfolio?

Source: TD Ameritrade T & Cs

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Skillz Inc.

then, we have Skillz, a leading mobile gaming platform that connects gamers around the world. Its Skillz Marketplace expands the gaming ecosystem, helping developers share their work with the world and build multi-million dollar franchises by enabling social competition in their games. SKLZ stock is currently trading at $ 10.02 at 1:58 p.m. ET. Today the company announced that the former Amazon (NASDAQ: AMZN), Vatsal Bhardwaj, chief product officer of the company, has been appointed.

Bhardwaj is a seasoned gaming executive who most recently served as General Manager and Director of Game Tech for Amazon Web Services. He will join Skillz’s C suite, further strengthening the company’s leadership team with seasoned executives from many of the world’s most prominent brands. He will lead both the product and technology teams and will be responsible for driving the creation of new services and products from concept, development and release to market. That being said, will you be adding SKLZ Stock to your watchlist?

Source: TD Ameritrade T & Cs

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HP Inc.

Finally we have HP. For the most part, the company operates primarily as a supplier of computer hardware. Some of its core offerings include personal computer systems, printers, and even 3D printing solutions. Given its role in consumer and enterprise technology markets, HP stock could now be a benchmark for technology investors. As it stands, HP stock is currently trading at $ 30.23 at 1:59 p.m. ET. This would be after gaining more than 5% since today’s opening bell.

Notably, the current positive move in HP stock is believed to be due to HP’s latest update on its financial outlook for fiscal 2022. To begin with, the company is increasing its annual earnings per share estimate for fiscal 2022 by $ 3.86 to $ 4.06. On top of that, HP also announced a massive 29% increase in its annual dividend. This is a huge gain of $ 1 per share. Overall, HP appears confident in its long-term growth capabilities. That said, will you be keeping an eye on HP stock now?