Tech stocks have been one of the most interesting sectors to watch in recent times. Tech stocks refer to lots of different company types. This can include digital services, electronics producers, apps, software, and much more. Since technology continues to advance over time, there are always new tech startups popping up every year. This means that new tech stocks may show up on the market more often than in other sectors.
Society is constantly evolving its technology which is why there are so many new tech companies. The current economic crisis caused some companies to fall hard. It also caused some tech companies to make big gains. For example, digital service-related tech stocks have been on the rise. A great example of this is video call service Zoom (ZM Stock Report), which has managed to reach new heights at its stock price in 2020. Food delivery apps have been big gainers as well.
This implies that many different types of tech stocks that have the potential to rise. That is why staying informed about the best tech stocks to buy is important. If you are looking to invest in tech stocks, you have to know what you are doing. Some tech stocks are highly volatile so research is the most important. Let’s look at two tech stocks that are trending in the market.
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The first tech stock to watch is GoPro Inc. (GPRO Stock Report) due to its recent market momentum. GoPro manufactures cameras specifically used for action, and apps plus video editing software as well. In 2017 the California based company brought in $1.18 billion in revenue. GoPro produces a few different camera options and a plethora of accessories. It is now a well-known brand to many and commonly used when doing things like snowboarding, biking, skydiving, and more.
GPRO stock was at around $4 a share on average before the market crashed. After the market fell, GPRO stock price dropped as low as $2 a share. Since the fall, GPRO stock has managed to make a full recovery. In fact GPRO stock price is higher than it was previously. As of July 17th, GPRO stock is at $4.93 a share on average. From its low, this is a 146.5% increase of GPRO stock. From its price before the pandemic, this is a 23.25% increase of GPRO stock price.
GoPro has managed to stay afloat despite the bad effects of the pandemic. GoPro has scheduled a second quarter financial results release for August 6th, 2020. This report can cause GPRO stock to rise up if it is positive. If the report is negative, GPRO stock price could potentially fall. That is why GPRO stock is a great tech stock to watch at the moment.Top Tech Stocks To Watch: Sony Corporation
We all know the next tech stock to watch, Sony Corporation (SNE Stock Report) as it is a giant in the tech industry. Sony Corporation owns the biggest music entertainment business in the world. Sony Corporation also owns the largest video game console business in the world, and the second-largest video game publishing business. Sony is also a leader in producing electronics for consumers and businesses. Sony also has a massive stake in the film and TV industry.
Shares of SNE stock were at $70 a share before the pandemic began. Then SNE stock price dropped to below $52 a share on average. That was until SNE stock began to rise again. As of July 17th, SNE stock is at $75.98 a share on average. This is an 8.54% increase from SNE stock price before the pandemic. It is also an increase of 46.11% from SNE stock low. From July 14th to July 17th, SNE stock price is up 4.08% as well. It seems like Sony has been able to continue its business despite all of the problems in the world.Bottom Line
So SNE stock and GPRO stock are potential tech stocks to buy due to their recent momentum in the market. If better sales and financial reports come out these tech stocks could potentially rise even higher. SNE stock price being at a nearly 20 year high is great news for shareholders. And GoPro rising up despite the pandemic is great for their company too. Keep an eye on these two tech stocks to watch in case they move higher in the future.