2 Top Consumer Tech Stocks for Long-Term Investors to Buy Now
Breaking down two highly-ranked consumer-facing technology stocks investors might want to consider buying at the moment as longer-term plays...
Today’s episode of Full Court Finance at Zacks takes a look at where the market stands at the moment, before diving into the broader earnings picture. The episode then breaks down two highly-ranked consumer-facing technology stocks investors might want to consider buying at the moment as longer-term plays.
August marked another strong month for stocks, with the S&P 500 posting its seventh straight monthly climb. Last month also represented the benchmark index’s best showing since April. Unfortunately, the momentum hasn’t carried over into the early days of September.
Labor Day traditionally marks the unofficial end of the summer, with volumes often returning to more normal levels. But we haven’t seen those volumes come back just yet and the holiday-shortened week marked the S&P 500’s worst stretch since June.
The recent pullback followed disappointing jobs data that points to increasing Delta variant worries. Meanwhile, some Wall Street analysts think the U.S. economic comeback may have already peaked, with the strained global supply chain making matters worse. Plus, traders have called for a substantial pullback or correction ever since the mid-July downturn was replaced by record highs nearly overnight.
Despite Delta variant jitters and real concerns about rising prices and slowing growth, stocks remain close to their records. Plus, the two largest factors that impact stock prices—earnings and interest rates—provide strong bullish support.
With this in mind, investors might want to consider buying two Zacks Rank #1 (Strong Buy) stocks exposed to different areas of consumer and technological expansion. First up is Garmin GRMN.
The stock provides exposure to everything from smartwatches that compete against Apple AAPL to radar navigation systems for planes and flying taxis. GRMN shares have crushed the broader tech sector in 2021 and over the past five years.
Sonos SONO isn’t in as many different markets as Garmin, but the high-end speaker firm’s outlook is strong within a growth industry set to benefit from continued home-based spending. Sonos is also poised to grab more market share as it competes against Bose, Amazon AMZN, and others.
Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative.See Zacks’ Hottest Tech IPOs Now >>
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Amazon.com, Inc. (AMZN): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Garmin Ltd. (GRMN): Free Stock Analysis Report
Sonos, Inc. (SONO): Free Stock Analysis Report
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