4 best tech stocks to watch this week

As we enter a new week of stock trading, technology stocks continue to be on the radar of many investors. Technology has played an important role in our daily life and it can sometimes go unnoticed. Whether we like it or not, technology will continue to evolve and dictate the way we live our lives. For example, digital payments have taken the world by storm and no one is flinching. On top of that, digital currencies like cryptocurrencies are even accepted in some places now. So, you are probably able to get away without cash, as long as you have some form of technology that could make payments.

So, does it surprise you that some of the fastest growing stocks today are tech stocks? For example, Square (NYSE: SQ) is a company that continues to push the boundaries by leveraging technology in the financial world. Most recently, its CEO Jack Dorsey said the company may get into bitcoin mining. He believes bitcoin mining should be “as easy as plugging a platform into a power source.” Considering how quickly technology is changing, this may well become a reality sooner than we think. With that in mind, do you think the industry will continue to thrive? If so, here’s a list of the best tech stocks to help you navigate the stock market today.

The best tech stocks to watch right now

International Business Machines

Let’s start the list with International Business Machines (IBM). This leading technology company provides integrated solutions and services around the world. Its portfolio of out-of-the-box tools and applications is designed to reduce costs and barriers to AI adoption while maximizing outcomes and responsible use of AI. IBM stock has risen more than 15% since the start of the year.

Last Tuesday, the company announced a collaboration with Apptio Inc. The partnership aims to help customers improve decision-making when it comes to hybrid cloud technology. Additionally, it will drive adoption of Red Hat OpenShift and IBM’s open hybrid cloud approach. As more companies move to the hybrid, IBM will be able to offer its customers a multi-cloud hybrid approach that will result in a complete platform for managing their workloads.

Not to mention that Virgin Megastore KSA, a leading entertainment retailer in Saudi Arabia, will be migrating its SAP ERP application workloads to IBM Cloud. The migration is designed to help the retailer gain operational efficiency. In addition, it will provide a platform for new digital services to their customers. This modernization step will allow the retailer to offer world-class experiences to its buyers. With this wave of partnerships underway, would you consider IBM stock to be one of the best tech stocks to watch?

Source: TD Ameritrade CGU

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Intelligence

Then we have the global tech giant, Intel company. For those who don’t know, Intel is a company dedicated to the design and manufacture of products and technologies. The company’s processor chips are essential components in countless laptops and desktops in use today. With the current shortage of semiconductor chips globally, the company’s products and services are in constant demand.

Earlier this month, Helbiz (NASDAQ: HLBZ) and Intel’s Moovit have announced plans to accelerate their global partnership. Helbiz will extend the integration of its electric vehicles into the Moovit app. This will give Moovit users access to Helbiz’s suite of micro-mobility vehicles. Together, the two companies will be able to gather valuable information on mobility to further develop their vision of congestion reduction globally. Such collaborations are often mutually beneficial and would often be a winning strategy in the long run.

On top of that, Intel also introduced Loihi 2, its second-generation neuromorphic research chip, and Lava, an open-source software framework last month. This introduction indicates the company’s intention to advance its neuromorphic technology. Neuromorphic computing takes inspiration from neuroscience to create chips that function more like the biological brain. Thus, the company will be able to improve energy efficiency, computing speed and many more. With that in mind, do you have any INTC stocks on your watchlist?

Source: TD Ameritrade CGU

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Cloudflare

Cloudflare operates a cloud platform that provides a range of network services to businesses around the world. In detail, the company provides an integrated, cloud-based security solution to secure a range of platform combinations. This includes public cloud, private cloud, on-premises applications, software as a service, and Internet of Things (IoT) devices. NET stock is on a strong uptrend this year, up more than 120% since the start of the year.

At the end of last month, the company announced Cloudflare R2 Storage. It is designed for the edge and will provide the ability to store large amounts of data. Thus, expanding Cloudfare’s offerings while reducing the egress bandwidth costs associated with cloud provider storage to zero. Developers would appreciate this new storage system because it allows them to store whatever they need with automatic data migration from S3 compatible services for easy switching.

Financially, the company has also been in full swing. During its second quarter, it recorded its best quarter to date as a public company. Its revenue increased 53% year-on-year to $ 152.4 million. It’s also worth noting that the company added a record number of large customers, signing the equivalent of more than two six-figure customers every business day during the quarter. With the company announcing its third quarter results on November 4, would you invest in NET stocks in advance?

Source: TD Ameritrade CGU

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Xilinx

Finally, we will examine Xilinx. Essentially, the company is dedicated to the design and development of programmable devices and associated technologies. These include Integrated Circuits (ICs), Three-Dimensional Integrated Circuits, and the Adaptive Computing Acceleration Platform. XLNX stock is another tech stock that is trading at an all-time high, rising over 40% this year.

The company now offers a range of Sony electronic products used for professional audio-video applications. Sony is leveraging Xilinx’s Field-Programmable Gate Array (FPGA) and Adaptive System-on-Chip (SoC) devices to enhance its devices. For example, it would help improve the real-time processing and routing of Sony video and audio in the company’s new XVS-G1 mixer. As a semiconductor leader for the professional audio / video market, Xilinx continues to partner with the best companies in the industry.

In addition to this, the company also collaborated with NEC Corporation last month. The companies are teaming up with NEC’s next-generation 5G radio units which are expected to be available for global deployment in 2022. Xilinx will supply its 7nm Versal AI Core series devices to enable better performance in the new NEC radio units. All things considered, would XLNX stock be a top tech stock to watch now?

Source: TD Ameritrade T & Cs

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.