2 Tech Stocks to Buy Now at Big Discounts in September and Beyond
Given this backdrop, investors might want to consider buying two highly-ranked technology stocks trading at huge discounts at the moment...
Today’s episode of Full Court Finance at Zacks dives into the broader market as we head into September. The bullish outlook remains in place despite various concerns and all three major U.S. indexes are trading right near their all-time highs. Given this backdrop, investors might want to consider buying two highly-ranked technology stocks trading at huge discounts at the moment.
All three major U.S. indexes slipped through early afternoon trading Tuesday. Despite the dip on the last day of August, the Dow, the S&P 500, and the Nasdaq all remain on track to post solid monthly gains. The market reacted positively to Jerome Powell’s speech late last week that continued his dovish tone on interest rates, even though the central bank is planning to scale back its bond purchases at some point later this year.
Wall Street also appeared pleased the FDA gave the Pfizer Covid-19 vaccine full approval, which many hope will encourage more people to get the vaccine. Plus, weekly jobless claims are hovering at their lowest levels since March 2020, despite delta variant worries. On top of that, the overall earnings picture continues to improve.
The market could experience some near-term selling given the solid run since the mid-July pullback. Luckily, the interest rate environment will continue to favor stocks for the foreseeable future even when the Fed finally raises rates.
Tech and growth names benefit even more from low rates, which means now is still a great time for long-term investors to buy. And why not consider scooping up two strong growth-focused technology stocks trading well over 20% below their records even as the Nasdaq sits at new heights.
Pinterest PINS, which lands a Zacks Rank #2 (Buy), got crushed after its Q2 earnings release on the back of a sequential decline in monthly active users. Luckily, its average revenue per user still climbed, as the decline marked a loss of more casual web browser users.
The visual discovery platform is set to thrive in the modern digital ad age and it’s a hit with advertisers, small businesses, entrepreneurs, and do-it-yourself enthusiasts. And unlike some of Facebook’s FB platforms, many users go to Pinterest to find purchase inspiration.
Roku ROKU is a Zacks Rank #1 (Strong Buy) that tumbled following its second quarter release in early August amid a slowdown in streaming hours. The stock also became a victim of its own success.
Despite the setbacks, the streaming TV company and its booming ad business stand to grow for years no matter who has the most subscribers or the hottest show in the fight between Netflix NFLX, Disney DIS, Apple AAPL, and countless others.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
The Walt Disney Company (DIS): Free Stock Analysis Report
Facebook, Inc. (FB): Free Stock Analysis Report
Roku, Inc. (ROKU): Free Stock Analysis Report
Pinterest, Inc. (PINS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research