Microsoft is also gaining market share in other important tech realms, ranging from cloud computing to video games.
TECHNOLOGY STOCKS TO BUY NOW SOFTWARE
In addition to its legacy software products such as Windows, the company has introduced new applications such as the video conference platform MS Teams which became a hit during the pandemic. Microsoft is also an increasingly diversified technology firm. Microsoft’s earnings have held up remarkably well despite global supply chain problems, inflation, and rising interest rates. Plus, the company’s stock has been pulled lower this year by the broader market.
Microsoft’s price-to-earnings ratio is the lowest it has been in more than five years, and it is one of the few established technology firms to pay a dividend (currently yielding 1.02% for a quarterly payout of $0.62 a share). The median price target on AMZN stock is $172, which would be nearly 40% higher than where the shares currently trade.Īnother mega-cap technology stock that is available to buy on the cheap right now is Microsoft (NASDAQ: MSFT).ĭown 28% on the year, this is one of the best tech stocks to buy on the cheap.
More recently, the company reported positive results, beating on both the top and bottom lines for the second quarter and issuing better-than-expected guidance for the current third quarter. This shift coming out of the pandemic has dinged Amazon’s stock and hurt its earnings earlier this year. The online retailer has closed 44 warehouse facilities around the world and delayed the opening of 25 other sites as it tries to right size its operations to meet waning demand coming out of the pandemic.Īmazon has also laid off 100,000 workers and is taking steps to get its inventory down to more manageable levels. But the company is working overtime to course correct, and long-term the stock should continue its upward trajectory. To be sure, some internal struggles have led to the drop in Amazon’s share price. The split, coupled with a 28% year-to-date decline, has AMZN stock trading near its most affordable level since before the pandemic hit in spring 2020. A perennial on any best tech stocks to buy list, the company looks even better following the 20-for-1 share executed on June 6 of this year. Speaking of stock splits, investors should get in on Amazon (NASDAQ: AMZN).
The median price target on PANW stock is $217 a share, implying 25% growth over the coming 12 months. In its most recent quarter, Palo Alto Networks generated $1.55 billion in revenue, its operating income grew 57% year-over-year to $323 million, and its earnings per share was $2.52, ahead of Wall Street forecasts. Now, more retail investors get to own a piece of the leading cloud-based cybersecurity company in the world. Before the split, Palo Alto shares traded above $500. In addition to the price decline, now is a great time to buy PANW stock after it split on a three-for-one basis Sept. While the company’s stock has fared better than many tech plays, its share price is down 10% over the last six months, making this one of the best tech stocks to buy on the dip Palo Alto Networks develops advanced firewalls that protect corporations and governments from online intruders, particularly cloud-based systems. Many analysts are pounding the table on Palo Alto Networks (NASDAQ: PANW) as the war in Europe and a growing number of online hacks throw a brighter light on cybersecurity firms. The median price target on the stock is currently $205, implying 54% upside from here. Still, despite the current hardship, many analysts and investors continue to stand by NVDA stock, claiming it remains the top semiconductor and microchip company in the world. The actual results came two weeks after Nvidia was forced to pre-announce that it would miss Wall Street estimates and that growth had slowed, particularly with its gaming division. Revenue for Q2 came in at $6.70 billion, which was 17% below the $8.10 billion that analysts had penciled in. The company announced earnings per share of $0.51, which was 60% lower than the $1.26 expected by analysts. In addition to investors fleeing to the safety of blue-chip consumer staples amid the current inflationary environment, NVDA stock has been hurt by poor earnings results and ongoing struggles with its global supply chains.Īt the end of August, Nvidia reported second-quarter earnings that missed Wall Street expectations by a country mile. Once among the best tech stocks to buy, Nvidia (NASDAQ: NVDA) has been particularly beaten up, down 55% on the year and only a shade above the its 52-week low.
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