Do you have these peak stocks on your July 2021 watchlist?
As we enter a new week of trading, we are looking to see if tech stocks can continue to gain with the wider stock Exchange. Clearly, this appears to be the case as the high-tech Nasdaq composite continues to climb to new highs last week. If anything, it could be because investors are diversifying their portfolios instead of just focusing on reopening stocks.
Certainly, the hot reopening trade has and continues to push up the valuations of reopening stocks. However, there are now fears about the rise of the delta variant of the coronavirus in the United States, namely that even White House chief medical adviser Dr Anthony Fauci claims it is the “”biggest threat‘to America’s fight against the pandemic. To underline, Dr Fauci believes this worrying variant could be the dominant strain in the country as early as next week. This would put the brakes on the current economic recovery, as the delta variant is currently one of the most contagious known variants of the coronavirus. In that case, I wouldn’t be surprised to see investors coming back technological actions.
After all, the tech industry flourished throughout 2020 as the pandemic ravaged the world. We can see that the iconic pandemic tech company, Zoom (NASDAQ: ZM) is already looking at gains of over 18% over the past month. Meanwhile, tech giants such as Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) continue to play heavily this week. Microsoft has unveiled its Windows 11 operating system while Amazon looks at autonomous delivery robot technology. Arguably tech stocks could once again be part of the trending stock group. to look in the scholarship today. If so, here are four tech players to watch out for now.
Best tech stocks to watch in July 2021
Marin Software Inc.
Marin is a technology company specializing in online advertising. The company prides itself on empowering advertisers to improve the efficiency and transparency of their paid marketing programs run by the world’s largest publishers. It provides business marketing software for advertisers and agencies to integrate, align and amplify their digital ad spend across the web and mobile devices.
Last month, the company announced that it has added the ability to manage Instacart ads to its flagship MarinOne platform. Integration makes it easier for brands to connect with customers directly at the point of sale. Instacart is the leading online grocery platform in North America and partners with more than 600 national, regional and local retailers.
“Customer habits have changed during the pandemic and online grocery delivery has been a big beneficiary,Said Chris Lien, Chairman and CEO of Marin. “As the leading online grocery platform in North America, Instacart is a staple of digital marketing strategies. We’re excited to give advertisers on Instacart the power of MarinOne to maximize ROI.âGiven the buzz around the company, will you consider adding MRIN stocks to your portfolio?
Taiwan Semiconductor Manufacturing Co. Ltd.
TSM is a multinational contract semiconductor manufacturing and design company. The company pioneered the pure-play foundry business model when it was founded. It deploys more than 280 distinct process technologies and manufactures more than 10,000 products for 510 customers in 2020.
This includes providing the widest range of advanced, specialized and advanced packaging technology services. TSM stock is currently trading at $ 118.91 at Friday’s close and has more than doubled in the past year.
In June, the company announced its May 2021 revenue report. Its net revenue for the month was $ 4.02 billion, an increase of 19.8% year-over-year. He also announced with NXP Semiconductor the release of NXP’s S32G2 vehicle network processor into series production on TSM’s advanced 16 nanometer (nm) FinFET process technology. All things considered, will you be looking at TSM stock as one of the best tech stocks?
Luminar Technologies Inc.
Next, we’ll look at Luminar Technologies Inc. In some context, Luminar identifies itself as a manufacturer of sensors and software for autonomous vehicles (AV). In fact, the company’s light-sensing and telemetry (lidar) sensors are among the few that meet the stringent performance and safety requirements of the automotive industry. Additionally, Luminar is currently working with 50 industry partners to further refine its AV offerings. In its list of partners, 8 are among the world’s top 10 manufacturers of automotive original equipment (OEM). Given the current interest in the audiovisual industry from the big tech players, Luminar’s products could now be the center of attention.
Likewise, it would then make sense for investors to also eye LAZR stocks now. The company’s shares are currently trading at $ 20.99 a share at the end of Friday’s trading session. Despite the current decline in LAZR stock, Luminar continues to deliver on the operational front. Just last week, the company provided an important update on its existing collaboration with leading automaker, Volvo.
By diving into it, Volvo will integrate Luminar’s lidar system on its next electric SUV. More importantly, Volvo is the first major automaker to incorporate Luminar technology as standard equipment on a vehicle. Given this strategic development, will you be adding LAZR action to your watchlist this month?
Micron Technology Inc.
Another name in the tech space to know now would be Micron Technology Inc. In short, the Idaho-based company mainly produces computer memory and computer data storage chips. For the most part, this includes dynamic random access memory (DRAM), flash memory, and USB flash drives. Now, with the pandemic, more consumers would turn to Micron’s offerings. This would be the case as working from home persists in some parts of the globe. For this reason, investors might now consider MU stocks for their tech stock listings.
For one thing, demand for Micron’s chips is pretty obvious from its fiscal figures for the last quarter. In it, the company posted earnings per share of $ 1.88 on revenue of $ 7.42 billion for the quarter. That would mark significant year-over-year increases of 36% in total revenue and 164% in earnings per share. Notably, these numbers significantly exceeded Wall Street estimates.
According to Micron CEO Sanjay Mehrotra, the company has defined âmultiple market and product revenue recordsIn the quarter. This would mark its biggest sequential improvement in earnings to date. Overall, Mehrotra cites strong demand for Microns’ DRAM and non-volatile flash (NAND) offerings for current performance. In the long term, he believes that Micron is in the âbest position everâTo take advantage of existing trends in its current end markets. Would that make MU stock a premium watch for you right now?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.