On Sep 13, the World Health Organization (WHO) reported the highest single-day spike in coronavirus cases, with the United States, Brazil and India topping the list of the newly infected. Governments across the world are gradually opening their economies and relaxing shelter-in-place measures but fears of coronavirus continue to grow with no signs of a vaccine anytime soon.
In fact, some countries are reporting a rise in cases, with the United States already having crossed more than 6.5 million, with deaths surpassing 194,000. On the other side of the world, India has been reporting more than 90,000 cases daily over the past few days.
Coronavirus Cases Continue to Rise
The WHO reported a record one-day increase in global coronavirus cases on Sunday, Sep 13, with the total rising by 307,930 in 24 hours.The biggest increases were from India, the United States and Brazil, according to the agency's website. The United States alone registered 45,523 new infections, with death escalating by more than 1,000.
The previous WHO record for new cases was 306,857 on Sep 6. The agency had reported a record 12,430 deaths on Apr 17. According to a Reuters analysis, COVID-19 infections are still rising in 58 countries.
Today there’s an ocean difference between the pre- and post-pandemic world. Work and learn from home have become the new culture the world is adapting to, while social distancing measures have seen the concept of buying and selling change completely.
Tech Stocks to Cash in on Amid the Coronavirus Crisis
When coronavirus started spreading in the United States, predictions were bleak, which ended the bull market for tech stocks that had been driving the markets for the past few years. However, more than six months since the WHO declared the coronavirus a worldwide pandemic, tech stocks have bounced back.
While most sectors continue to bleed due to the coronavirus-related lockdown a few stand to be the biggest winners in the situation. Among the 11 sectors of the S&P 500, information technology has been the biggest winners during the pandemic. The Technology Select Sector SPDR’s (XLK) 35.3% return in the past six months bears testimony to the fact that the tech rally has legs.
Goes without saying, most people will prefer spending more time at home even if the economy reopens completely. In fact, shelter-in-place stocks have been rallying since the coronavirus outbreak, with the majority outperforming the broader market. Given the bullish trend, investing in some of them will be a good proposition. Here’s a look at four such stocks.
Apple, Inc. (AAPL - Free Report) designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. Its signature products include iPhone, Mac and iPad.
The company’s expected earnings growth rate for the current year is 8.8%. The Zacks Consensus Estimate for current-year earnings has improved 4.5% over the past 60 days. Apple has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zoom Video Communications, Inc. (ZM - Free Report) has been benefiting from the work-from-home and online learning wave. Zoom uses AI to schedule video meetings and for a host of other things such as organizing attendee details and transcripting details. In recent times, the company’s paid subscriber growth for the video conferencing service improved, and CEO Eric Yuan said that the Zoom platform has been able to provide “an incredibly valuable service to our beloved users” amid the coronavirus-induced stay-at-home scenario.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 79.4% over the past 30 days. The company sports a Zacks Rank #1.
Salesforce.com, Inc. (CRM - Free Report) is the leading provider of on-demand Customer Relationship Management software, which enables organizations to better manage critical operations, such as sales force automation, customer service and support, marketing automation, document management, analytics, and custom application development.
The company’s expected earnings growth rate for the current year is 25.1%. The Zacks Consensus Estimate for current-year earnings has improved 25.9% over the past 30 days. The company sports a Zacks Rank #1.
Dropbox, Inc. (DBX - Free Report) is a service company. It offers a platform that enables users to store and share files, photos, videos, songs and spreadsheets.
The company’s expected earnings growth rate for the current year is 54%. The Zacks Consensus Estimate for current-year earnings has improved 4.1% over the past 60 days. The company carries a Zacks Rank #2.
Biggest Tech Breakthrough in a Generation
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