Best Tech Stocks To Buy in July 2020
Covid-19 has impacted every aspect of our life. The most significant impact it had was on the world economy. The financial markets have crashed, and many businesses are going bankrupt. Every industry is suffering adversely from its effects.
The ongoing pandemic has forced companies to adapt to work from home. It has forced governments to impose lockdown and curfew. COVID-19 has led to making significant changes in terms of the way we eat, study and live our day to day life.
Covid-19 has impacted every aspect of our life. The most significant impact it had was on the world economy. The financial markets have crashed, and many businesses are going bankrupt. Every industry is suffering adversely from its effects.
The only exception is the Information Technology and Service Industries. So here we will discuss specifically the tech stocks that you can invest to gain profits.
Best Tech Stocks To Invest in July 2020
Shopify (SHOP)
The pandemic has forced the government to close down the commercial markets and put lockdown. Many businesses have adapted e-commerce business models. Shopify is the backbone of e-commerce. It is an e-commerce platform that enables anyone to set up an online store and sell their products.
Why one should consider investing in Shopify stock because as the e-commerce business is growing and booming under current circumstances. Shopify’s need has increased, the company is witnessing growth in terms of customers and revenue. One can expect to earn a good profit if they hold Shopify stock for the long run.
LivePerson (LPSN)
Liveperson is the best stock to buy not just in a pandemic but for the next decade. The company is a small tech company that creates smart chatbots. These chatbots are powered by AI that gives them natural language processing ability.
The company has reported first-quarter revenue of $78.1 million. The expert expects that their full-year revenue will be between $340 million and $355 million. It is showing signs of good growth in terms of revenue.
Microsoft Corporation (MSFT)
Microsoft's revenue increased by 15 per cent to 35 billion. Their commercial cloud business saw a revenue increase of 30% over the year to $13.3 billion. Microsoft corporation is boasting a bullish chart.
Some experts say that the Microsoft stock will remain the best investment throughout the year. The Coronavirus outbreak had no significant impact on the revenue of the company. Investors should consider including Microsoft stock in their portfolio.
Atlassian Stock (TEAM)
The Australia-based firm reported its seventh straight quarter of 30% revenue growth. The company's sales are up by 33% to $411.6 million.
The company has a consistent record of healthy bottom-line and top-line growth. The company is a developer of project management and bug tracking tools.
The company changed its business model and has adapted a saas business model. This business model has given them revenue growth.
ServiceNow Stock (NOW)
Servicenow offers information-technology service management software. The organisation also shows seven straight quarters of 30%+ revenue growth. In the first quarter, sales jumped 33% to nearly $1.05 billion. With the adoption of the subscription model, their revenue went up by 34% to $995 million.
Datadog Stock (DDOG)
The company offers monitoring and analytics platforms to its customers. The firm has delivered four straight quarters of 80%+ sales growth.
Veeva Systems Stock (VEEV)
Veeva Systems stock is a leader in the software sector. They provide cloud softwares for the life sciences industry.
The company has remained consistent with its growth rate. They have an earnings growth rate of 43% and a sales growth rate of 28%.
Cisco Systems Stock
Cisco Systems is a significant player in the computer networking industry. It covers a substantial portion of the computer networking market.
The firm has a market value of USD 203.1 billion. It offers a dividend yield of 3.0 Percent. Cisco's revenue has also increased in the coronavirus outbreak.
Nvidia Corporation
NVIDIA Corporation designs, develops and manufactures computer graphics processors, chipsets, and related multimedia software. The company reported revenue growth of 39% for Q1 2020; they also posted a record gross margin of 65.1%
Apple inc
Apple inc reported revenue growth of 1% and diluted EPS growth of 4% for Q2 of its 2020 fiscal year, which ended 28 March 2020. Apple continued to grow in terms of sales and revenue, despite the COVID-19 outbreak. Apple offers smartphones, tablets and desktop computers to its customers.
Amazon Inc
Amazon inc is a multinational company that provides service in ECommerce, digital streaming, cloud computing and artificial intelligence. The company has a revenue of USD 280.522 billion (2019).
Amazon has an operating income of USD 14.541 Billion and net income of USD 11.588 billion. Amazon is the best option for investment in the short, medium and long run.
No investors should ignore Amazon inc stock in their portfolio.
Amazon is a significant player in the e-commerce world, and amid pandemic, the e-commerce industry is seeing a considerable boom.
Conclusion
In the pandemic situation, all the industries are facing significant losses. Tech industry is booming right now. If you are considering investing in tech stock, you can take help from the broker like ROinvesting. The broker offers expert advice and trading tools.
