NFLX - 2 Tech Stocks To Watch In November 2023
2023-11-06 11:02:45 ET
The technology sector stands as a cornerstone of modern innovation, encompassing an expansive array of companies. These organizations specialize in various fields, such as software development, semiconductor manufacturing, and cloud computing services. They are pivotal in shaping how we communicate, work, and entertain ourselves. The sector is not just about established titans like Netflix ( NASDAQ: NFLX ) and Microsoft ( NASDAQ: MSFT ) but also includes a plethora of startups pushing the boundaries of technology.
Tech stocks symbolize the equity of these cutting-edge firms. They range from blue-chip names with global recognition to high-growth prospects just emerging from their venture-backed origins. While the potential for significant returns is substantial, mirroring the success stories of companies that have reshaped our digital landscape, so is the risk. Market volatility is a hallmark of tech stocks, driven by product cycles, competitive pressures, and the continuous need for innovation.
When it comes to investing in the tech sector, one must navigate with insight and caution. Thorough research into each company’s prospects, competitive position, and financial health is crucial. Understanding broader industry trends can also offer investors an edge. For those with a high-risk tolerance and a focus on long-term horizons, the tech sector can offer compelling investment opportunities. What that being said, here are two blue-chip tech stocks to watch in the stock market today.
Tech Stocks To Buy [Or Avoid] Now
- Apple Inc. ( NASDAQ: AAPL )
- Amazon.com, Inc. ( NASDAQ: AMZN )
Apple (AAPL Stock)
Starting off, Apple Inc. (AAPL) is a global technology company. Apple focuses on a range of consumer electronics. This includes the iPhone, iPad, and MacBook, Apple has also made significant strides in software and services with offerings such as iOS, the App Store, and iCloud.
Earlier this month, Apple reported a beat on its Q4 2023 financial results. In detail, the tech giant notched in earnings of $1.46 per share, with revenue of $89.50 billion. For context, this is in comparison with analysts’ consensus estimates for the quarter which were an EPS of $1.39 on revenue of $84.69 billion.
Looking at the last five trading days, shares of Apple stock have advanced by 5.44%. While, during Monday’s mid-morning trading session, AAPL stock is trading green by 1.13% at $178.65 a share.
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Amazon (AMZN Stock)
Next, Amazon.com, Inc. (AMZN) is one of the world’s largest e-commerce marketplaces. Alongside its vast retail operations, Amazon is a leader in cloud computing through its Amazon Web Services (AWS) division and has a growing presence in areas like artificial intelligence, streaming entertainment, and smart home products.
Late last month, Amazon announced better-than-expected third-quarter 2023 financial results. Diving right in, the company reported earnings of $0.85 per share, along with revenue of $143.08 billion for Q3 2023. This is compared to Wall Street’s consensus estimates, which were an EPS of $0.58 and revenue of $141.47 billion. Meanwhile, revenue advanced by 12.57% versus the same period, the previous year.
In the last five trading days, shares of AMZN stock have increased by 5.57%. While, during Monday’s mid-morning trading session, Amazon stock is trading higher by 1.19% on the day so far, at $140.25 a share.
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