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Stocks To Consider Right Now? 3 Tech Stocks To Watch

Stocks To Consider Right Now? 3 Tech Stocks To Watch

Posted October 24, 2023 at 10:00 am

Brett David
StockMarket.com

Tech stocks to watch in the stock market right now.

When we talk about the modern world and its driving forces, the tech sector stands out as a major player. This sector encompasses companies that create and sell electronic devices, software, computers, artificial intelligence, and other innovations that power our daily lives. These companies, from giants like Apple (NASDAQ: AAPL) and Alphabet (NASDAQ: GOOGL) to smaller startups, are continually pushing boundaries, creating products, and offering services that redefine how we live, work, and play.

Investing in tech stocks means buying a piece of these companies. For many investors, this is an attractive proposition because of the sector’s reputation for rapid growth and its history of game-changing innovations.

However, like all investments, tech stocks come with their own set of risks, often characterized by their volatility. While there’s potential for high rewards, it’s essential to understand the unique challenges of the tech world before diving in. That said, here are three tech stocks to check out in the stock market now.

Tech Stocks To Buy [Or Avoid] Right Now

Microsoft (MSFT Stock)

First off, Microsoft Corporation (MSFT) is a global technology giant known for its software products. This includes the Windows operating system and the Office suite of productivity tools. Additionally, Microsoft offers a range of hardware, cloud services, and other innovative solutions that cater to both individual consumers and businesses of all sizes.

Last month, Microsoft announced a 10% increase in its quarterly dividend, raising it by 7 cents to $0.75 per share. This dividend will be payable on December 14, 2023, to shareholders who are on record as of November 16, 2023, with the ex-dividend date set for November 15, 2023. Additionally, Microsoft confirmed that the 2023 Annual Shareholders Meeting is scheduled for December 7, 2023.

In the last six months of trading, shares of Microsoft stock have traded higher by 14.13%. Meanwhile, during Friday’s late-morning trading session, MSFT stock is trading lower on the day so far by 1.51% at $326.31 per share.

Microsoft (MSFT Stock)

Source: TD Ameritrade TOS

Netflix (NFLX Stock)

Second, Netflix Inc. (NFLX) is a pioneering streaming service that offers a vast library of films, television shows, and original content. With a presence in numerous countries worldwide, Netflix has transformed the way audiences consume entertainment, providing on-demand access to a diverse range of genres and languages.

Earlier this week, Netflix reported a beat for its third quarter 2023 financial results. In detail, Netflix notched in earnings of $3.73 per share, on revenue of $8.54 billion for Q3 2023. This is versus Wall Street’s estimates for the quarter which were an EPS of $3.46 and revenue estimates of $8.43 billion. Additionally, revenue increased by 7.77% compared to the same period, the previous year.

Moreover, in the previous six months of trading action, Netflix stock has surged by 23.20%. While, during Friday’s late-morning trading session, shares of NFLX stock are trading modestly lower on the day so far by 0.39% at $400.20 a share.

Netflix (NFLX Stock)

Source: TD Ameritrade TOS

Palantir Technologies (PLTR Stock)

Last but not least, Palantir Technologies Inc. (PLTR) specializes in creating software platforms for data integration, information management, and analytics. Catering primarily to government, defense, and intelligence agencies, as well as commercial sectors, Palantir’s platforms assist organizations in making informed decisions by analyzing vast amounts of data.

Earlier this month, Palantir Technologies announced that it had secured a contract from the Army to offer enhanced capabilities in support of the Combatant Commands (COCOMs), Armed Services, Intelligence Community, and Special Forces. This contract, aimed at furthering the testing, utilization, and scaling of artificial intelligence (AI) and machine learning (ML) capabilities, is valued at up to $250 million and spans through 2026.

Looking at the past six months of trading, shares of PLTR stock have increased by 96.99%. Additionally, during Friday morning’s trading session, Palantir Technologies stock has dropped by 6.04% on the day so far, trading at $16.03 a share.

Palantir Technologies (PLTR Stock)

Source: TD Ameritrade TOS

Originally Posted October 20, 2023 – Stocks To Consider Right Now? 3 Tech Stocks To Watch

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