CRM - Best Stocks To Buy Right Now? 2 Tech Stocks To Know
2024-05-24 16:13:32 ET
The tech industry is a dynamic and rapidly evolving sector of the stock market , characterized by innovation and rapid growth. Companies in this sector typically engage in the development, production, and distribution of technology and Internet-related services and products. These companies range from giants like Apple ( NASDAQ: AAPL ) and Microsoft ( NASDAQ: MSFT ). These companies offer consumer electronics and software, to smaller startups focusing on cutting-edge technologies like artificial intelligence and blockchain.
Investing in tech stocks offers significant advantages, including the potential for high returns. Many of the world’s largest and most successful companies are technology-based, and they have consistently demonstrated strong performance and growth. Additionally, tech companies are often at the forefront of innovation, creating new markets and opportunities. However, there are also notable disadvantages, such as volatility. Tech stocks can be highly sensitive to market changes and can experience rapid price fluctuations based on product launches, regulatory news, or technological breakthroughs.
Another drawback is the high valuation of many tech stocks, which can increase the risk of investment losses if the growth trajectory slows or fails to meet market expectations. Moreover, the competitive nature of the industry means that today’s leaders can quickly become tomorrow’s laggards if they fail to keep up with technological advancements. Despite these risks, the tech sector remains a popular choice for investors looking for exposure to innovative companies and significant growth potential. Now, let’s dive into two tech stocks to check out in the stock market today.
Tech Stocks To Watch In The Stock Market Today
- NVIDIA Corporation ( NASDAQ: NVDA )
- Salesforce Inc. ( NYSE: CRM )
NVIDIA (NVDA Stock)
Leading off, NVIDIA Corporation (NVDA) is a technology company popular for its graphics processing units (GPUs) for the gaming and professional markets. As well as system-on-a-chip units (SoCs) for the mobile computing and automotive market.
Just this week, NVIDIA announced a beat for its first quarter fiscal year 2025 financial results. Getting right into it, the tech giant reported earnings of $6.12 per share, with revenue of $26.04 billion for the quarter. This is in comparison with consensus estimates on Wall Street for the quarter, which were earnings estimates of $5.55 per share, on revenue of $24.17 billion. Additionally, the company announced an impressive 262.12% increase in revenue compared to the same period, the prior year.
Year-to-date, shares of NVIDIA stock have increased by 121.04% so far. While, as of Friday’s closing bell, NVDA stock closed the day up another 2.57%, trading at $1,064.69 a share.
[Read More] 2 Consumer Discretionary Stocks To Watch In Mid-May 2024
Salesforce (CRM Stock)
Second, Salesforce Inc. (CRM) is a global leader in customer relationship management (CRM) software. The company delivers a suite of cloud-based applications designed to help businesses connect with their customers in new ways. Salesforce provides tools for sales, customer service, marketing automation, analytics, and application development.
Earlier this week, Salesforce announced several innovations to its Einstein 1 Marketing and Commerce platforms at the Connections event. These enhancements aim to transform customer journeys by unifying data and leveraging AI. Salesforce has introduced new features in Einstein Copilot for marketers and merchants to simplify daily tasks such as campaign creation and commerce operations. These developments are designed to help businesses effectively harness AI to enhance customer experiences and drive business growth.
In 2024 so far, shares of Salesforce stock are up 6.31% YTD. Moreover, as of Friday’s closing bell, CRM stock finished the trading day down 2.25%, at $272.29 a share.
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