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3 Top-Ranked Tech Stocks to Buy as Nasdaq Jumps to Start February

Benjamin Rains
·2 min read

Zacks Stocks In The News · 3 Top-Ranked Tech Stocks to Buy as Nasdaq Jumps to Start February

 

On today’s episode of Full Court Finance at Zacks, we explore some of the latest market news as the Nasdaq jumps to start February, after ending January on a wild ride. The episode then digs deeper into three highly-ranked large cap technology stocks to consider buying as some of the biggest names in the industry post blowout quarterly results.

Just last week the S&P and the Nasdaq climbed to new records ahead of earnings results from giants such as Microsoft MSFT and others. U.S. stocks then went on to post their worst week since October. The downturn was likely driven by profit taking, as Wall Street and the broader media world became engulfed by the massive short squeezes at GameStop and elsewhere.

The market then bounced back on Monday, with the tech-heavy Nasdaq up around 2.6% on the day, driven by Skyworks SWKS, Tesla TSLA, Applied Materials AMAT, and other big names. Investors might have welcomed the recent pullback to help give the market a breather after its huge, post-election run.

On top of that, the broader fundamentals set up a bullish case for 2021, even as the coronavirus has hampered the economic comeback during the winter. With this in mind, it’s likely time to bolster your portfolio as we start February.

Tech remains a surefire sector to invest in for the long haul. And today we explore why Micron MU, Shopify SHOP, and Apple AAPL, which are all Zacks Rank #1 (Strong Buy) stocks at the moment, might be worth buying.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Microsoft Corporation (MSFT) : Free Stock Analysis Report
 
Micron Technology, Inc. (MU) : Free Stock Analysis Report
 
Apple Inc. (AAPL) : Free Stock Analysis Report
 
Skyworks Solutions, Inc. (SWKS) : Free Stock Analysis Report
 
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
 
Tesla, Inc. (TSLA) : Free Stock Analysis Report
 
Shopify Inc. (SHOP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research