The US best tech stocks have been the growth and innovation engine for years. Apple, Microsoft, Google, and Amazon have changed the way we live, work, and communicate, they are household names and global players. The tech sector is on a roll, tech stocks often lead the indices and are super popular with investors.
Over the past few decades, US tech stocks have grown exponentially as technology has advanced and consumers have adopted new tech. However, the tech sector has challenges like market volatility, regulatory scrutiny, and cyber attacks.
The key areas of the tech sector are AI cloud, cybersecurity, and health tech. Investments in AI are focused on natural language processing (NLP) and machine learning (ML) expansion benefits telecoms and the Internet of Things (IoT).
Cloud leaders like AWS, Azure, and Google Cloud are must-haves. Cyber threats drive demand for security solutions and health tech is telemedicine and wearables for personalized healthcare.
Here is an indication of which stocks to buy
Top Technology Stocks to Buy Now
Here are some of the major technology stocks: Microsoft, Apple, Nvidia, Alphabet, Meta, and Oracle.
1. Microsoft Corporation (MSFT)
Microsoft Corporation Software, cloud, hardware, and gaming. Windows and Office Suite and the Azure cloud platform. Microsoft is innovating and delivering for shareholders. Average price target $475.85, up 9.98% from current.
- Market Cap: $3.22 Trillion
- Dividend Yield: 0.69%
- Revenue: $211.92 Billion
2. Apple Inc. (AAPL)
Apple Inc Consumer electronics leader with iPhone, iPad, Mac, and Apple Watch. Innovation and quality and a services ecosystem. Apple is the foundation of the tech industry. Average price target $209.32, up 1.05% from current.
- Market Cap: $3.18 Trillion
- Dividend Yield: 0.48%
- Revenue Growth Forecast (5Y): 4.78%
3. Nvidia Corp (NVDA)
Nvidia’s GPUs and AI are driving gaming, data centers, and autonomous vehicles. Nvidia is pushing the boundaries of technology. The average price target is much higher, with lots of investor confidence.
- Market Cap: $2.97 Trillion
- Dividend Yield: 0.02%
- Revenue Growth Forecast (5Y): 27.66%
4. Alphabet Inc. Class A (GOOGL)
As the parent of Google, Alphabet’s products and services are shaping the future of tech. Ventures in search engines, ad platforms, and autonomous tech show Alphabet is all in on digital. Average price target $189.81, up 7.47% from current.
- Market Cap: $2.19 Trillion
- Dividend Yield: 0.45%
- Revenue Growth Forecast (5Y): 11.16%
5. Meta Platforms Inc. (META)
Formerly Facebook, Meta Platforms runs the largest social media platforms in the world. Despite challenges, Meta is building community and innovating in VR. Average price target $495.80, down 2.30% from current.
- Market Cap: $1.29 Trillion
- Dividend Yield: 0.20%
- Revenue Growth Forecast (5Y): 12.52%
6. Oracle Corp. (ORCL)
Oracle is cloud, database, and enterprise software. Reliable and innovative for over 40 years. A good choice for investors looking for stability in enterprise software. Average price target $136.54, up 10.22% from current.
- Market Cap: $340.49 Billion
- Dividend Yield: 1.29%
- Revenue Growth Forecast (5Y): 11.48%
What Should I Consider Before Investing in Technology Stocks?
- Company Basics: Examine the balance sheet, liquidity, leverage, and risk management.
- Earnings and News: Stay updated with the latest tech news to make informed decisions.
- Disruption and Innovation: Look for companies at the cutting edge of innovation, as they often lead to significant growth.
- Stock Price: Ensure the stock is reasonably priced by comparing it to market prices to avoid overpaying.
- Shareholder Returns: For income investors, consider dividends and buybacks.
Bottom Line
Investing in the best technology stocks can offer significant returns, especially as technology continues to evolve and integrate into various aspects of our lives. By carefully selecting companies with strong growth potential and staying informed about market trends, investors can capitalize on the opportunities presented by the tech sector in 2024.
Read More - Top 5 Investment Companies in the US: Where to Put Your Money Right Now
Note: The information provided was selected by an experienced financial analyst, but it may or may not be suitable for your portfolio. Before making any purchases, conduct your own research and then make a decision