Best Technology Stocks to Buy

1. Meta Platforms, Inc. (FB)

Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. Meta Platforms, Inc., doing business as Meta and formerly known as Facebook, Inc., is a multinational technology conglomerate based in Menlo Park, California. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries. Meta is trading at $ 337.25 with a 52 week low of $ 244.61 and a 52 week high of $384.33. Looking at their 1 year price, you can see that Meta Platforms has continuously soared in the last year with some plunges throughout the year. They have a Market Cap of $938.149 Billion, P/E ratio of 24.13 and EPS of $13.97.

Meta has grown to become one of the largest and most well-known tech companies in the world. Since its IPO in 2012, the company’s shares have risen greatly, and despite a few bumps in the road, reached all-time highs in the summer of 2021. Meta’s profitability is also quite high leaving it at a Profit Margin of 35.88%. Its total revenue also jumped from $70,697,000 in 2019 to $85,965,000 in 2020, and the analysts have only expected it to soar in the next decade and beyond, which is why Meta is a good company to have on the watchlist for long term investment and hold forever.

2. Unity Software Inc. (U)

Unity Software Inc. is an American videogame development company that operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. Right now, Unity is trading at $172.39 per share, with a 52 week low of $76 and a 52 week high of $210. Their one year price chart shows a consistent growth of share price with a big dip at the start of 2021. Analysts are rating it a 2, which is a buy.

Unity Software has been an important player in the videogame industry recently because of the implementation of the 3D game engine which is a potential avenue for the videogame creators to consolidate a future metaverse through unity’s technology. In 2015, a report suggested that Unity was responsible for developing over 170,000 video games in just one summer. Their 2021’s 3rd quarter report suggests a revenue of $286.3 million, showcasing an increment of 43% from the 3rd quarter of 2020. This suggests a positive trend for the company that could lead to profitability. Unity is such a valuable and pivotal company that looks like a winner in the near future.

3. NVIDIA Corporation (NVDA)

NVIDIA Corp. is an American tech company that is known for designing Graphics Processing Units (GPU) as well Chip Units that are used in the electronic devices such as gaming consoles and PC’s. The company is currently trading at $314.35, with a 52 week low of $115.67 and a 52 week high of $ $346.47. Their 1 year price chart portrays that their share price picked up a slow growth pace at the beginning of the year but grew dramatically after June 2021. The company has a Market Cap of $783 billion, with a mild dividend of 0.05%. NVDA recently hit a new all-time high price in its entire history on the market, after reporting 50% year-over-year growth in revenue and a mind boggling 84% year-over-year increase in net income. Most of their revenue collected from the gaming sector, with RTX GPU specifically in high demand. They are already working on more GPU’s like Ada Lovelace that is expected to be released in 2022. This technological advancement could be crucial, because powerful GPU’s can accommodate in the production of more advanced computers. Consequently, this is a good sign for the stock in the upcoming years.

4. ServiceNow, Inc. (NOW)

ServiceNow is an American Cloud Computing Software developer geared towards the business workflows of the enterprise. It operates the Now platform for workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and so on. At the moment, NOW is trading at $599.57, with a 52 week low of $448.27 and a 52 week high of $707.60. Their 1 year price chart shows ups and downs throughout the year, but ever since June, they saw a substantial increase in the share price. The company has a Market Cap of $119.31 Billion. In the last 12 months, they have gathered a revenue of $5.5 Million. Analysts are inclined towards this NOW, rating it as 5.5, which is between strong buy and buy. They have also inspected the average price target to hit $730.71, which is 3% higher than the current price. The company’s 3rd Quarter 2021 results showcase 31% increase in subscription revenue and a staggering 384.62% growth in net income.

ServiceNow’s platform allows users (often large companies) that consume their products like manage data, securely store information, search keywords that pull up important or relevant information within the company’s software infrastructure and other important functions of the day to day business. Their product has been used by some of the biggest names in business like Adobe. Their partnership valuates the legitimacy and the power of the Cloud computing platform.

5. NIO Inc. (NIO)

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. The company offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. Right now, NIO is trading at $38.31, with a 52 week low of $30.71 and a 52 week high of $66.99. The company has a Market Cap of 60.93 Billion. In the last 12 months, they have incurred a total revenue of $32.8 million, which analysts expect it to rise to $1.54 billion in the next quarter. They have given it a rating of 1.8, which is a buy. Their average price target per share is $58.45, which is over 50% greater than the current price.

NIO is a fantastic vehicle opportunity that has the opportunity to grow massively. However, because of its volatility it is on the riskier side. That being said, despite the short term pullbacks, the company has a lot more growth ahead of it in the long term. Some investors could be hesitant to invest in Chinese companies, but looking at the company’s huge improvement and estimates it’s hard to ignore a big tech corporate like NIO. There is a lot going on for this company and if you are big on the shift from internal combustion engine cars to electric vehicles, then NIO is definitely a stock to watch.