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Where technology is involved, it's innovation, disruption, and potential profits that become customary. Investors are on high alert for the next big tech plays. Although no one can predict the future, there it goes—a curated list of best tech stocks that seem most interesting for July 2024, based on current trends and some of the industry buzz.
A tech giant needs no introduction—Microsoft is staying top in software, cloud computing via Azure, and gaming with Xbox. Continuous innovation and management's focus on enterprise solutions make the company a sure bet for the long run. Keep a lookout for news related to their cloud business growth and any possible forays into other markets.
Brand loyalty for Apple, combined with relentless innovation in products, is almost unrivaled. With the iPhone, iPad, and Mac ecosystems all on fire, it is well positioned. The next iPhone or other devices could have rumors or announcements in July, which will help the stock prices.
Google's parent Alphabet remains dominant in search and UI with advertising through Google Ads, and in artificial intelligence. It is also making waves in its cloud platform via the Google Cloud Platform. This July, watch for news on their AI developments, ad-revenue growth, and the performance of GCP as a way to understand where they are headed in the future.
This e-commerce giant isn't slowing down, with its arm of cloud computing, Amazon Web Services, continuing to be a big revenue driver. July's Prime Day may act as a catalyst affecting their stock price. Other things to watch include logistics developments and the company's streaming service, Prime Video, as well as healthcare initiatives like Amazon Care.
The leader in graphics processing units, Nvidia has just disproved earlier apprehensions that its growth would get dented due to dependence on just one product line. As the powerhouses that are gaming and artificial intelligence applications have surged, so has Nvidia. The increasing demand for computing besides high-performance use cases in data science and machine learning works well for Nvidia. Track news regarding the latest GPU releases, partnerships with AI companies, and developments in the metaverse space for potential stock price triggers.
TSMC is the world's premiere contract chip maker and hence a core player in the shortage of semiconductors globally. Their future success will depend on how quickly they can ramp up the output from their units and ensure supplies of critical raw material inputs. July may bring updates on capacity expansion plans and foundry partnerships, as well as increased clarity regarding the worldwide supply and demand outlook for chips.
As the giant in semiconductor and infrastructure software solutions, this company stands well with respect to the growth in 5G and data center sectors. Their approach, including organic growth and strategic acquisitions had made them quite an attractively interesting investment. Product launch news along with tie-ups with some telecom companies and any M&A activity could be some of the catalysts that can move their stock price in July.
Earlier named Facebook, Meta Platforms has enormous exposure to the metaverse, a virtual world with remarkable potentials. Their success depends on how the users adapt to the VR headsets and how well they build a metaverse ecosystem. July may bring an update regarding their progress on the metaverse, the sales numbers of VR headsets, and the metrics of user engagements—news that can move the stock.
This is a Dutch company that manufactures photolithography machines, critical to making chips, so it is part of the semiconductors supply chain. How well they will be able to meet the surging demand for their machines will set the tone for its growth. Watch for any news regarding plans to increase production capacity, order intake, and fulfillment for chipmakers, or easing of the chip shortage situation that would bear on its stock price.
CrowdStrike is on the verge of becoming the leading cybersecurity pure-play name specializing in cloud-delivered endpoint protection; it's very well-positioned in today's increasingly digital world. The company's focus on AI-powered threat detection sets this firm as one of the strong contenders. News on customer acquisition, success stories of preventing cybersecurity breaches, or new offerings could move the stock price in July.
