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3 Tech Stocks to Buy Now on Bullish Second Quarter Start
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On today’s episode of Full Court Finance at Zacks we dive into the market’s hot start to the second quarter of 2021. The episode then explores three highly-ranked tech stocks that investors might want to buy as the S&P 500 and the Dow hit new records and the Nasdaq climbs.
The market closed an eventful first quarter on a high note and continued that momentum into the first two trading days of April. The S&P 500 and the Dow are both on track to close at new highs on Monday, while the Nasdaq popped over 1.5% through late afternoon trading to come within 3.5% of its mid-February records.
The movement has highlighted a rotation into cyclical sectors such as finance, energy, and other economic rebound plays. And the bulls have bought up technology stocks since the Nasdaq fell into a correction on March 8.
The inflation worries are still there, but they might have been a bit overdone. The positives, which include the possibility of 6% or higher U.S. GDP growth in 2021, the vaccine roll out, and strong earnings growth, seem to be outweighing inflation fears. Even with the 10-year U.S. Treasury above pre-pandemic levels at 1.70%, it remains well below the 3% that yields hit in 2018 and ultra-low by historical standards. This likely extends there is no alternative investing (also read: The Return of Strong Earnings Growth)…
With this backdrop in mind, Pinterest (PINS - Free Report) stock has surged about 10% in the last several trading sessions. Despite the comeback, it has nearly 10% more room to run before it returns to its highs. Investors might want to consider the rather unique social media-style firm compared to Facebook , Twitter , and Snapchat (SNAP - Free Report) that’s poised to grow as people disconnect from traditional media and billions of more ad dollars pour into digital.
Adobe’s (ADBE - Free Report) subscription-based software from Photoshop to InDesign are staples and standard-bearers in the creative and design fields. The company that created the PDF has also expanded its business-focused roster and its growth outlook is impressive. Plus, ADBE has outclimbed Netflix (NFLX - Free Report) , Apple (AAPL - Free Report) , and other technology titans over the past five years.
Lastly, we look at the second-largest company in the world by market cap at $1.9 trillion, Microsoft (MSFT - Free Report) . MSFT’s cloud computing space has boomed and it’s likely to drive growth going forward. And Microsoft shares jumped to new records on Monday.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
3 Tech Stocks to Buy Now on Bullish Second Quarter Start
On today’s episode of Full Court Finance at Zacks we dive into the market’s hot start to the second quarter of 2021. The episode then explores three highly-ranked tech stocks that investors might want to buy as the S&P 500 and the Dow hit new records and the Nasdaq climbs.
The market closed an eventful first quarter on a high note and continued that momentum into the first two trading days of April. The S&P 500 and the Dow are both on track to close at new highs on Monday, while the Nasdaq popped over 1.5% through late afternoon trading to come within 3.5% of its mid-February records.
The movement has highlighted a rotation into cyclical sectors such as finance, energy, and other economic rebound plays. And the bulls have bought up technology stocks since the Nasdaq fell into a correction on March 8.
The inflation worries are still there, but they might have been a bit overdone. The positives, which include the possibility of 6% or higher U.S. GDP growth in 2021, the vaccine roll out, and strong earnings growth, seem to be outweighing inflation fears. Even with the 10-year U.S. Treasury above pre-pandemic levels at 1.70%, it remains well below the 3% that yields hit in 2018 and ultra-low by historical standards. This likely extends there is no alternative investing (also read: The Return of Strong Earnings Growth)…
With this backdrop in mind, Pinterest (PINS - Free Report) stock has surged about 10% in the last several trading sessions. Despite the comeback, it has nearly 10% more room to run before it returns to its highs. Investors might want to consider the rather unique social media-style firm compared to Facebook , Twitter , and Snapchat (SNAP - Free Report) that’s poised to grow as people disconnect from traditional media and billions of more ad dollars pour into digital.
Adobe’s (ADBE - Free Report) subscription-based software from Photoshop to InDesign are staples and standard-bearers in the creative and design fields. The company that created the PDF has also expanded its business-focused roster and its growth outlook is impressive. Plus, ADBE has outclimbed Netflix (NFLX - Free Report) , Apple (AAPL - Free Report) , and other technology titans over the past five years.
Lastly, we look at the second-largest company in the world by market cap at $1.9 trillion, Microsoft (MSFT - Free Report) . MSFT’s cloud computing space has boomed and it’s likely to drive growth going forward. And Microsoft shares jumped to new records on Monday.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>