The market has been nothing more than a forecast this year, and with some investors seeing stocks in their favor over the past few months that wild stock prices have changed, it could raise concerns about buying stocks right now.
To be sure, the U.S. is plagued by high unemployment and a coronavirus epidemic. But that doesn’t mean there are no good stocks in the tech sector right now.
If you’ve been in the market for some tech stocks to buy and hold for several years, then take a look at what these three are – Shopife (NYSE: Shop), NVIDIA (Nasdaq: NVDA), And Amazon (Nasdaq: AMZN) – is giving opportunity.
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1. Shopify: E-commerce is the future of retail
Shares of Shopify have risen 167 percent since the beginning of the year as businesses of all sizes have been forced to lockdown, social distance and reduced capacity within stores. Shopify’s eCommerce platform has helped businesses organize shops (or expand existing ones) so they can start (or continue to) sell their products to customers.
The result has been astronomical growth for Shopify, with sales in the second quarter up %%% per year and the amount of dollars spent on the company’s platform up 119% over the previous year.
Some investors may worry that they have already lost the opportunity to shopify, but they should keep in mind one simple fact: despite the rush of shopping online shopping during the epidemic, e-commerce merchant sales accounted for only 16% of all U.S. retail sales. Is equal to. . This means that as the market expands, Shopify has plenty of scope to continue helping businesses bring their stores online.
2. NVIDIA: Chip leader with winning hand
Some companies may not have NVIDIA brand recognition in the consumer tech space, but they are not considering investing in this dominant chip company. NVIDIA’s graphics processing units (GPUs) help deliver some of the best graphics around computers and servers, and the company’s tech dominance is evident from its 80% market share in the Descript graphics market.
Still, it’s not just hardcore gamers who prefer NVIDIA. The world’s largest tech companies use NVIDII’s GPU to power some of their artificial intelligence processes. In fact, the use of GPUs in computer servers has become so popular that NVIDIA’s data center revenue grew 167% year-over-year in the most recent quarter, boosting its gaming revenue for the first time.
NVIDIA is giving potential investors another reason to buy its stock right now, as the company has only agreed to buy from Arm Holdings. Softbank Group cash 40 billion for cash and stock. Once the deal closes, which is expected to take place within the next 18 months, it will give NVIDIA ownership of the chip design and proprietary Arm license, which is used in 90% of smartphones.
3. Amazon: A safe bet with more rooms to grow
Like Shopify, Amazon is currently taking advantage of the boom in online shopping and will continue to benefit from the rise of this market for years to come. Amazon’s sales rose 40% year-over-year in the second quarter due to demand for shopping online purchases, and Wall Street fixed its price target at 10. 10.30 per share, bringing analysts’ consensus estimates to 1. 1.50 per share in the past.
Amazon is garnering a large crowd of loyal shoppers, the company will now boast more than 1 million prime members from 2018 to 2018, investors should not ignore Amazon’s ability to grow its prime members, keeping in mind that there are no places to buy buy online products these days. Shortage. Prime members spend more than average Amazon shoppers on Amazon’s ecosystem and help users link.
Of course, Amazon is more than just an e-commerce mercenary drama. The company’s cloud computing business, Amazon Web Services (AWS), is one of the company’s best sources of profit and is helping Amazon tap into the 500 500 billion cloud computing services market. AWS is a leader in cloud computing infrastructure with a 33% market share, and its current position will help the company dominate this position for years to come.
Don’t get off the market roller coaster early
Worldwide epidemics, recessions, U.S. The market will be more volatile in the coming months with the presidential election and high unemployment. It may be tempting to buy and sell the stock based on the daily news, but investors should fight that urge. The best way to build wealth over time is to buy shares in great companies and hold them for years, not months or even a few quarters.
