Cheap Stocks To Buy Now? 2 Tech Stocks To Know
Are these tech stocks a good buy at their current price levels?
Tech stocks are shares of publicly traded companies that are involved in the technology industry. This industry includes a wide range of companies that develop and sell products and services related to computers, software, the internet, and other technological innovations. Some well-known tech companies include Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and Alphabet (NASDAQ: GOOGL).
Tech stocks tend to be more volatile than stocks in other industries. This is because the technology industry is often subject to rapid change and innovation. This can lead to both higher potential returns and higher risks for investors. It is important for investors to thoroughly research and understand the companies and technologies they are considering investing in before making any investment decisions.
In general, tech stocks have performed well over the past several decades, as the technology industry has experienced strong growth and innovation. However, like all stocks, tech stocks are subject to market fluctuations and can fluctuate in value. It is important for investors to diversify their portfolios and carefully consider their investment objectives and risk tolerance before making any investment decisions. With this in mind, here are two tech stocks to watch in the stock market today.
Tech Stocks To Watch Right Now
- NVIDIA Corporation (NASDAQ: NVDA)
- Applied Materials Inc. (NASDAQ: AMAT)
Nvidia (NVDA Stock)
First up, NVIDIA Corporation (NVDA) is a technology company. The company designs and manufactures graphics processing units (GPUs) and other technology products. The company’s products are used in a variety of industries, including gaming, professional visualization, data centers, and autonomous vehicles.
NVDA Recent Stock News
Last month, Nvidia announced its third-quarter 2023 financial results. In detail, the company reported earnings of $0.57 per share, along with revenue of $5.9 billion. This is versus the Street’s consensus estimates for Q3 2023 were earnings of $0.67 per share, and revenue estimates of $5.8 billion.
What’s more, the company also said it now estimates 4th Quarter 2023 revenue in the range of $5.88 billion to $6.12 billion. Jensen Huang, founder, and CEO of NVIDIA comments, “We are quickly adapting to the macro environment, correcting inventory levels, and paving the way for new products.“
NVDA Stock Chart
In 2022 so far, shares of NVDA stock have fallen by 44.99% year-to-date. However, Nvidia stock has recovered 5.70% in the last month of trading. Meanwhile as of Friday’s closing bell, NVDA stock is trading at $165.71 a share.
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Applied Materials (AMAT Stock)
Next, Applied Materials, Inc. (AMAT) designs and manufactures equipment, services, and software used to produce advanced semiconductor chips and other high-tech products. The company’s products are used in a wide range of industries, including electronics, energy, healthcare, and transportation.
AMAT Recent Stock News
This week, Applied Materials reported that its Board of Directors has declared a quarterly cash dividend of $0.26 per share on common stock. Additionally, the dividend is payable on March 16, 2023, to shareholders of record on the close of business on February 23, 2023. Furthermore, in FY 2022, the company returned $6.98 billion to shareholders through dividends and share buybacks.
AMAT Stock Chart
Moving along, year-to-date shares of AMAT stock have fallen by 34.52%. Though, over the last six months of trading, Applied Materials stock has rebounded by 16.59%. As of Friday’s closing bell, AMAT stock is trading at $104.54 a share.
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