On today’s episode of Full Court Finance here at Zacks, Ben Rains takes a look at five tech stocks that investors might want to consider buying for the second half of 2020. Today we also made sure to focus on technology stocks that are not part of the FAANG group or named Microsoft (MSFT - Free Report) .
The Dow fell 3.3% last week as Wall Street assessed what to make of the continued spike in coronavirus cases in parts of the U.S. This has seen politicians in states such as California and Texas reverse some reopening plans. Meanwhile, Disney (DIS - Free Report) postponed the reopening of its California park and Apple (AAPL - Free Report) said it would shut down more stores in the Houston area.
Despite these setbacks, stocks surged Monday morning on the back of better-than-expected pending home sales. On top of that, investors might remain in don’t fight the Fed mode and stocks are still up big from their March lows. And let’s remember that the Nasdaq hit new high just last week on the back of gains from Apple, Amazon (AMZN - Free Report) , Microsoft, and others.
With this in mind, we looked at five stocks that are part of the broader technology sector that investors might want to consider buying for their ability to grow during the coronavirus economic uncertainty. These stocks also all provide longer-term growth potential within strong industries, including cloud computing.
Creative and business-focused software powerhouse Adobe (ADBE - Free Report) is the first stock up. We then dive into chip giant Nvidia (NVDA - Free Report) and stay-at-home standout Zoom Video (ZM - Free Report) . The episode then concludes with why Datadog (DDOG - Free Report) and Chegg (CHGG - Free Report) are both highly-ranked Zacks stocks at the moment.
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