Trending Tech Stocks To Buy This Week? 4 To Know

With the current weakness in tech, investors could be eyeing these hot tech stocks now.
Trending Tech Stocks To Buy This Week? 4 To Know
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Could These Top Tech Stocks Be Worth Buying Right Now?

For most tech investors, yesterday’s trading session on the stock market was a tough one. Namely, tech stocks, in general, were hit hard as the tech-heavy Nasdaq composite dipped by 2.6%, its worst session since the March selloffs. Should we see another selloff in the weeks to come, could tech stocks become the top value stocks in 2021? Before we go into that, what exactly are value stocks might you ask? In short, value stocks often come at low prices relative to the company’s overall financial performance. For seasoned investors, betting on value stocks is often on the belief that these companies can deliver in the long run. While inflation fears may be causing a dip in tech stocks now, eagle-eyed investors may see this as a unique buying opportunity.

Now, tech companies continue to flourish throughout the current pandemic as consumers and organizations alike remain reliant on their services. For starters, we could look at social media giants such as Pinterest Inc. (NYSE: PINS). Sure, in-person social activities may be making a comeback. However, social media will still fulfill the role of helping people share their social experiences with others, nonetheless. Elsewhere, tech companies in the cryptocurrency industry could be interesting plays as well. Given the growing adoption of digital currencies, the likes of PayPal (NASDAQ: PYPL) and Riot Blockchain (NASDAQ: RIOT) remain viable.

While these companies may address varying end markets, they all share one similarity. For the most part, their share prices are noticeably down from their all-time highs seen back in January 2021. With huge names in tech coming down from their sky-high valuations, some investors might consider buying on the dip. If you are one of them, here are four making waves on the stock market today.

Best Tech Stocks To Buy [Or Sell] In May

Jumia Technologies Inc.

Jumia is a leading pan-African e-commerce platform. Its platform consists of its game-changing marketplace, which connects sellers with consumers. The company also has a logistics service that enables the delivery and shipment of packages from sellers to consumers. Last but not least, the company also boasts a payment service, called Jumia Pay. JMIA closed Tuesday’s trading session up over 7% at $25.24 a share. The company reported its first-quarter financials today.

e-commerce stocks to buy (JMIA stock)

Firstly, the company reported that its gross profit increased by 11% year-over-year $24.79 million. It also continues to build its brand strength and was ranked #7 in the 2020 Most Influential Brands survey in Egypt.

This is evident as it continues to offer more convenience to consumers. Jumia Food for instance has been present across 10 countries and 48 cities in Africa. It boasts a wide range of restaurants on its platform and has been around for the last 9 years. Given the exciting developments surrounding Jumia, will you consider buying JMIA stock?

[Read More] 4 Cyclical Stocks To Look Out For In 2021

FuboTV Inc.

Fubo is a sports-first live TV streaming platform. The tech company offers subscribers access to tens of thousands of live sporting events annually as well as leading news and entertainment content. By subscribing to Fubo, users can stream a broad mix of 100+ live TV channels. FUBO stock finished Tuesday’s trading day seeing a gain of 8.07% at $17.67 per share. The company will be announcing its first-quarter financials today after the market closes.

best streaming stocks (FUBO stock)

How will the company perform in today’s reporting? By looking at its fourth-quarter financials in February, we may get a better idea. The company’s quarterly revenue exceeded $100 million for the first time. FuboTV ended 2020 with over 547,880 paid subscribers, a 20% increase sequentially.

Building on the momentum from 2020, the company says it remains focused on continued innovation and is excited about its growth opportunities for 2021. Given all of this, will you consider buying FUBO stock ahead of its earnings?

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Shopify Inc.

Shopify is a multinational tech company that focuses on e-commerce. The company offers online retailers a suite of services. This would include payments, marketing, shipping, and customer engagement tools. Its platform boasts more than 1 million businesses in approximately 175 countries. Shopify is the largest publicly traded Canadian company by market capitalization. SHOP stock closed Tuesday’s trading session up a modest 2.77% at $1,110.20.

best tech stocks to buy (SHOP stock)

Last month, the company announced its first-quarter financial results. Impressively, its total revenue for the quarter more than doubled to $988.6 million. Its subscription solutions revenue was $320.7 million for the quarter, growing by 71% year-over-year. This was primarily due to more merchants joining the platform.

Shopify’s momentum continued into 2021 as digital commerce tailwinds remained strong and merchants took advantage of the range of capabilities offered by our platform,” said Amy Shapero, Shopify’s CFO. “We are focused on building a commerce operating system that will help shape the future of retail. Our merchant-first business model positions us to capture the massive opportunity presented by the growth of digital commerce, benefiting both our merchants and Shopify.” All things considered, will you buy SHOP stock?

[Read More] Best Communication Stocks To Watch Right Now

Microsoft Corporation

Last but not least, we have tech goliath Microsoft. Seeing as the company offers the world’s leading office software, investors could be eyeing MSFT stock now. At the same time, Microsoft’s ever-growing portfolio seems to be performing as well. In its recent quarter fiscal posted last month, the company posted annualized revenue growth of 19%. This marks its biggest quarterly increase since 2018. According to CEO Satya Nadella, massive strides in Microsoft’s gaming and cloud divisions are to thank for this performance. Moving forward, could MSFT stock be worth investing in?

best tech stocks (msft stock)

Well, for one thing, the company appears keen to maintain its pandemic-boosted momentum now. As of last week, Microsoft is working with U.K.-based creative tech company WPP to “transform creative content production”. The duo launched Cloud Studio, an innovative cloud platform focused on advertising content creation.

According to Microsoft, teams from across WPP’s global network can now produce campaigns for clients from any location around the world. With Microsoft’s core cloud platform, Microsoft Azure, powering this project, the company continues to expand its addressable markets. By and large, could all this make MSFT stock a buy right now?

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