3 tech stocks best on your mid-September watchlist

TECHNOLOGY

Technology stocks, including stocks of companies that produce or use technology, have been on an upward trend in recent years. This is due in part to the increasing importance of technology in our lives. Technology is becoming more and more ubiquitous, increasing demand for technology stocks. Technology companies are also becoming more profitable as they find new ways to monetize their products and services.This is evident today in the names of giant technologies such as Alphabet Inc. (NASDAQ: GOOG), and Amazon.com, Inc. (NASDAQ: AMZN). As a result, many investors view technology stocks as safe and profitable investments.

However, investing in technology stocks on the stock market also comes with risks. For example, the field is highly competitive and a company can quickly become obsolete if it doesn’t keep up with the latest trends. Additionally, technology stocks are often volatile and their prices can fluctuate rapidly. As such, investors should carefully consider these risks before investing in technology stocks. If you’re still interested in investing in the tech sector, here are three he recommends. top tech stocks To check out on today’s stock market

Technology stocks to invest in [Or Avoid] just now

Adobe Inc. (ADBE)

Starting this, we will first look at Adobe Inc. (ADBE). First of all, Adobe is an American multinational computer software company. The company specializes in creating multimedia and creativity software products and has recently expanded into digital marketing software. Adobe’s product portfolio includes Creative Cloud, Adobe Photoshop, Adobe Illustrator, Adobe InDesign and Adobe Premiere Pro. Additionally, Adobe’s customer base includes individual consumers, small businesses, and large enterprises.

ADBE Stock News

This Thursday, Adobe announced that it has entered into a definitive merger agreement to acquire Figma. For starters, Figma is the leading web-first collaborative design platform. Details of the acquisition include Adobe agreeing to pay approximately $20 billion in cash and stock to his Figma. In a statement, the company said it expects the transaction to close in 2023, subject to receipt of necessary regulatory approvals and approvals and other closing conditions, including approval by Figma’s shareholders. rice field.

Additionally, Shantanu Narayen, Chairman and CEO of Adobe, commented in a letter to shareholders:Adobe’s greatness is rooted in its ability to create new categories and deliver cutting-edge technology through organic innovation and inorganic acquisitions. The combination of Adobe and Figma is revolutionary and accelerates our vision for collaborative creativity.

ADBE stock chart

Adobe stock has fallen over 46.95% since early 2022. Meanwhile, the stock fell another 3.15% to $299.38 per share during Friday’s power hour trading session. With this in mind, would you like to add Adobe stock to your tech stock watchlist now?

Source: TD Ameritrade TOS

Qualcomm (QCOM)

Next, Qualcomm Inc. (QCOM) is an American multinational semiconductor and communications equipment company that designs and markets wireless communications products and services. Qualcomm’s main products are: Cellular phone chipsets, modem chipsets, wireless infrastructure solutions, and other semiconductor solutions for connected devices. In fact, the company’s chipsets are used in a wide range of devices, from high-end smartphones to budget models.

QCOM Stock News

In July, Qualcomm reported financial results for the third quarter of 2022. In the report, the company announced earnings of $2.96 per share for him and earnings of $10.9 billion for him. For context, the consensus earnings forecast for the quarter was earnings of $2.86 per share and earnings of $10.9 billion.

Qualcomm President and CEO Cristiano Amon said:We are also pleased to announce that we have extended our patent licensing agreement with Samsung and expanded our strategic partnership to deliver superior consumer experiences for Samsung Galaxy devices. Qualcomm is well positioned to bring advanced connectivity, data processing and intelligence to the edge, enabling cloud edge convergence.

QCOM stock chart

Continuing, Qualcomm’s stock is currently down more than 32% this year. QCOM shares are trading at $124.90 per share in Friday’s late afternoon trading session. As it stands, QCOM is down -35.47% from his 52-week high of $193.58. Is it a good time to invest in Qualcomm stock for a buy-and-hold opportunity?

qualcomm stock
Source: TD Ameritrade TOS

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Closing out this list, check out Meta Platforms Inc. (meta). Most notably, Meta Platforms is the parent company of the popular social media platforms Facebook and Instagram. Simply put, Meta Platform builds technology that enables people to find communities and grow their businesses.

Specifically, Meta Platforms Inc. operates through two business segments. The first is a family of apps. This includes platforms such as Facebook, Instagram and WhatsApp. Additionally, Reality Labs includes augmented and virtual reality-related consumer hardware, software, and content. An example of this is Meta’s popular Oculus VR headset.

meta stock news

In July, Meta Platforms reported results for the second quarter of 2022. In this report, Meta reported weaker-than-expected results in terms of earnings and returns. META reported he earned $2.46 per share on earnings of $28.8 billion. That contrasts with Wall Street’s consensus forecast of $2.50 per share for quarterly earnings of $28.9 billion. Additionally, it is the first time in the company’s history that it has announced a decline in sales.

Additionally, the company’s chief financial officer said in a shareholder release:We expect total revenues in the third quarter of 2022 to be in the range of $26 billion to $28.5 billion. This outlook reflects the continuation of the weak advertising demand experienced throughout the second quarter. This is likely driven by broader macroeconomic uncertainty. We also expect Reality Labs revenues in the third quarter to be lower than in the second quarter. Our guidance assumes a headwind of about 6% year-over-year in total revenue growth in the third quarter based on current exchange rates.

META stock chart

It’s no surprise that META stock has taken a big hit so far this year. Specifically, META shares are down more than 56% since the beginning of the year as of Friday’s close, to $146.46 a share. Additionally, the company is down 61.20% from his 52-week high of $377.56 per share. It’s been a tough year so far for the Meta platform, but do you think the stock market thinks the company is undervalued today?

Metastock
Source: TD Ameritrade TOS

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

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