Yahoo Finance 5 Highly-Ranked Tech Stocks to Buy for 2020
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains takes a look at five technology stocks that investors might want to buy for 2020, as stocks continue to climb on U.S.-China trade positivity heading into the new year.
The Dow, S&P 500, and Nasdaq all surged to new intraday highs Monday morning. This jump came after U.S. and Chinese officials announced last Friday that they reached a so-called phase one trade agreement. Wall Street and investors hope for much more down the road, but the limited agreement helps deescalate the ongoing trade fight between the world’s two largest economies.
Along with the recent U.S.-China trade truce, House Democrats announced their support for the new United States, Mexico, Canada agreement to replace NAFTA. Plus, U.S. unemployment rests at 50-year lows and corporate earnings growth is projected to return in 2020. All of these conditions set the table for what could be another strong run in 2020.
With this in mind, we dive into five tech stocks that look set to expand as part of larger growth trends within booming industries.
First, we dive into why semiconductor stocks Applied Materials AMAT and Nvidia NVDA appear strong, as they stand to benefit from the continued expansion of everything from cloud computing to artificial intelligence. Both chip companies have seen their shares outpace everyone from Intel INTC to Micron MU this year.
The episode then takes a look at cloud-focused software firms Anaplan, Inc. PLAN and Zuora, Inc. ZUO. Anaplan’s growth appears impressive and it was named to Deloitte’s 2019 Technology Fast 500 list. Meanwhile, Zuora hopes to benefit from the growth of subscription-based business models.
Microsoft MSFT is the most well-known firm on the list and remains one of only two public companies in the U.S. with a market cap over $1 trillion, alongside Apple AAPL. MSFT’s ability to compete directly against Amazon AMZN in cloud computing has helped it become one of the more stable tech plays on the market that also returns value to shareholders through buybacks and dividends.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report Anaplan, Inc. (PLAN) : Free Stock Analysis Report Zuora, Inc. (ZUO) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
