(0:45) - Market Update (3:20) - Zendesk (6:30) - CrowdStrike (9:25) - Shopify (14:10) - The Trade Desk (17:30) - Nvidia
On today’s episode of Full Court Finance at Zacks we dive into five stocks within the broader technology sector, from semiconductors to cybersecurity, that investors might want to consider buying for 2021.
The Dow, the S&P 500, and the Nasdaq all closed at all-time records on Monday, as the market looks to close 2020 on a high note. Stocks did slip slightly through early afternoon trading on Tuesday. But Wall Street is still high on the newest stimulus bill in the U.S. and the Brexit deal that was struck on Christmas Eve.
Let’s also remember that officials project that roughly 100 million Americans will be vaccinated by February or March. Furthermore, the strong S&P 500 earnings outlook for 2021 and the low interest rate environment have helped cover up concerns about rising coronavirus cases.
All of this helps set up a bullish outlook for 2021. And despite the possibility of a comeback in hard-hit social distancing areas, tech still seems like a safe bet for next year and beyond.
All five of the tech stocks we looked at earn a Zacks Rank #1 (Strong Buy) or #2 (Buy) at the moment. The first stock we dive into is
Zendesk (. This cloud-focused CRM firm with a software portfolio geared toward sales, support, and customer engagement has seen its stock price soar and its outlook appears strong as businesses transform for a more digital world. ZEN Quick Quote ZEN - Free Report)
CrowdStrike (is a cybersecurity firm that utilizes machine learning and AI to protect endpoints and cloud workloads. And the stock has pulled back by roughly 10% after it hit new highs last week, which could set up a better buying opportunity. CRWD Quick Quote CRWD - Free Report) Shopify (is an e-commerce powerhouse that surged in 2020 to double Amazon ( SHOP Quick Quote SHOP - Free Report) AMZN Quick Quote AMZN - Free Report) . The stock has already fallen around 10% since reaching records last week and it’s ready to thrive in a digital commerce age that’s just getting started.
The Trade Desk ( is an advertising company that’s built to succeed as digital spending surpasses traditional media buying and marketers race to reach consumers in the Netflix ( TTD Quick Quote TTD - Free Report) NFLX Quick Quote NFLX - Free Report) age. TTD is now up 210% in 2020, but like some of its peers on this list, it is down over 10% off last week’s heights.
The episode then closes with
Nvidia (. The GPU giant has been on a tear in 2020 and a recent cool down might set up a better buying opportunity for NVDA as we head into 2021. NVDA Quick Quote NVDA - Free Report) Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot stocks we're targeting >>