Do You Have These 3 Tech Stocks On Your Watchlist?

For investors looking for the most active stocks today,

tech stocks

would be an interesting play. As

JPMorgan

(

NYSE: JPM

) strategist Mislav Matejka notes, non-profitable tech is now closer to the “

outright cheap territory.

” Elsewhere, even big tech stocks such as

Microsoft

(

NASDAQ: MSFT

) and

Meta

(

NASDAQ: META

) which were at record highs a year ago, have now dropped more than 20% year-to-date. Hence, some could argue that tech stocks are more attractive at their current valuations. This is the case for some even with the latest consumer price index (CPI) readings coming in above estimates at a 9.1% year-over-year increase.

Meanwhile, the tech industry in China which suffered during lockdowns also remains hard at work. Notably, these companies continue expanding their businesses across a variety of ways. One of the companies would be

Alibaba

’s (

NYSE: BABA

) fintech affiliate Ant Group. In June, the company launched a digital wholesale bank incorporated in Singapore, named the ANEXT Bank. The Monetary Authority of Singapore (MAS) approved ANEXT to begin operations on June 2.

“This marks yet another milestone in Singapore’s digital bank development journey,”

says MAS Chief Fintech Officer Sopnendu Mohantu.

In recent light,

Spotify

(

NYSE: SPOT

) is also acquiring Heardle. Heardle launched in February 2022, based on the Wordle format, which was purchased by the New York Times for more than $1 million. In Heardle, players try to guess a song as rapidly as can be based on its beginning notes. Through the musical discovery capabilities of Heardle, Spotify’s consumer tech offerings continue to grow as well. As the tech industry continues to gain momentum heading towards the second half so far, here are three more tech stocks for your watchlist in the

stock market

today.

Best Tech Stocks To Invest [Or Sell] In 2022

• 
  Twitter Inc.
  
  (
  
  NYSE: TWTR
  
  )
• 
  Micron Technology Inc.
  
  (
  
  NASDAQ: MU
  
  )
• 
  Amazon.com Inc.
  
  (
  
  NASDAQ: AMZN
  
  )

Twitter Inc.

Starting us off today, we have the social networking company,

Twitter

. In essence, Twitter serves as a forum for real-time communication and public self-expression. The company’s platform offers Promoted Ads, Follower Ads, and other goods and services. Its Promoted Ads have objective-based capabilities that allow advertisers to pay solely for the types of engagement they want. In the meanwhile, Follower Ads allow advertisers to establish and grow an audience interested in their brand, product, or service.

Amidst the Elon Musk-Twitter saga, Elon Musk formally gave notice of termination of the $44 billion deal to buy Twitter on July 8. On July 11, Twitter lawyers responded to Mr. Musk’s attorney on the July 8 filing, saying the company hadn’t violated the merger agreement. Twitter announced it has sued Mr. Musk, with the intention to enforce the deal. Now, both parties are gearing up for a legal battle. This battle would become one of the most unusual courtroom battles in corporate-takeover history.

It’s still unclear how the conflict between Musk and Twitter will turn out. Musk will be compelled to purchase the business at the agreed-upon share price of $54.20 if Twitter gets its way. Musk may still be liable for a $1 billion breakup fee even if he succeeds in getting out of the agreement. With all eyes on the courtroom battle, do you have TWTR stock on your watchlist?

[Read More]


Best Cheap Stocks To Buy Now? 3 Software Stocks For Your List

Micron Technology Inc.

Micron Technology

offers memory and storage solutions. Its business segments include the Compute and Networking Business Unit (CNBU), which includes memory products sold to the client, cloud server, enterprise, graphics, and networking markets. Next, the Mobile Business Unit (MBU) includes memory products sold in smartphone and other mobile-device markets. The Storage Business Unit (SBU) includes solid state drives (SSDs) and solutions sold into enterprise, cloud, client, and consumer storage markets, as well as other storage products sold into other storage markets.

In June, Micron Technology announced the shipping of the world’s first 176-layer NAND SATA SSD named Micron 5400 SSD. Designed for data center workloads, the SSD enables broad use cases, delivers significantly better performance than traditional hard disk drives (HDDs), and extends the life of SATA platforms. Furthermore, the Micron 5400 allows data center operators to install new servers or upgrade existing servers while continuing to use the SATA interface.

Recently, Micron Technology announced its results for the third quarter of fiscal 2022. Among its highlights, revenue was $8.64 billion, an increase of $1.22 billion year-over-year. The company’s net income during the quarter was $2.63 billion. Furthermore, its operating cash flow was $3.84 billion, compared to $3.56 billion for the same quarter last year. According to CEO Sanjay Mehrotra, the company has delivered record revenue in the fiscal third quarter. Considering all of this, is MU stock a buy right now?

Amazon.com Inc.

Amazon

is a multinational tech company that focuses on e-commerce, cloud computing, and artificial intelligence among others. Today, it is one of the most valuable companies in the world. Notably, its Amazon Web Services provides on-demand cloud computing platforms and APIs to individuals, companies, and governments all around the world. On July 12, 2022, the company announced two pieces of news that might attract the attention of investors.

Accordingly, the company announced that it is a part of the latest acceleration in

Delta Air Lines

’ (

NYSE: DAL

) digital business transformation with the announcement of a multi-year agreement to serve as the airline’s preferred cloud provider. Additionally, the company will help Delta unlock technologies and streamline processes that will make the customer experience faster and smoother.

“Continuous innovation is at the core of Delta’s commitment to its customers,”

said Matt Garman, Senior Vice President of Sales, Marketing, and Global Services at Amazon Web Services.

“Delta is using AWS’s global infrastructure, proven operating expertise, and wide range of services to drive innovation in delivering superior customer service, as well as enhancing efficiency and reliability across its global network.”

Amazon also announced the general availability of its AWS Cloud WAN, a new managed wide area network (WAN). To summarize, the service connects on-premise data centers, colocation facilities, branch offices, and cloud resources to simplify operating a global network. Furthermore, it uses a central management dashboard to allow customers to define their network configuration and also view the health of their network. With all of this in mind, should you consider adding AMZN stock to your portfolio right now?

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