Make no mistake about it, the stock market has been on an impressive run ever since the 2008 financial crisis. Leading the way has been the tech sector. In fact, the largest companies in the world are in the space: Apple Inc (AAPL), Alphabet Inc. (GOOGL), Microsoft (MSFT), Amazon.com Inc. (AMZN), and Facebook, Inc. (FB).
These companies have changed the ways we live our lives, from how we shop to how
we interact with our friends and family. With that said, technology is constantly evolving and new leaders will emerge in the sector.
Tech stocks offer tremendous growth potential. For example, Facebook was founded in 2004, and is already one of the largest companies in the world based on market cap. There are also many penny stocks with emerging tech that should be on investors radars.
Up And Coming Tech Stocks To Watch
There are several trends happening in the tech space that should continue to see growth. Let’s take a look at them:
Nvidia Corporation (NVDA) – You may know the name if you’re a gamer or have a high end laptop or PC. They have been making graphic cards for years. However, the firm has seen a boost in demand as its become a go-to source for big data analytics and data science. But that’s not all, its processors are set to be the leaders in the virtual reality and augmented reality category. There is even talk that its processors will be used for self-driving vehicles in the future.
PayPal (PYPL)- The company was once owned by eBay as its source for collecting payment. However, since spinning off its made some impressive changes that include a full-service digital payment platform. It owns the peer-to-peer payment system, Venmo, a hit among millennials. Of course, with cryptocurrencies taking off over the last year, it will be interesting to see how PayPal gets involved in the space, and if they can take market share from more traditional payment processors like Visa and Mastercard.
Tesla, Inc. (TSLA)- Once considered a bubble stock, Tesla is now a leader in the electric car revolution. Now, nearly every major automaker is trying to play catch up. The firm is also changing the way people view energy storage. Eccentric CEO, Elon Musk, wants to solve the world’s energy problems. The firm acquired Solar City, whose technology allows solar power to be stored for overnight use. Tesla is also developing all-electric semi-trucks, which have garnered the attention of PepsiCo and Wal-Mart.
Where Will The Next Up and Coming Tech Stocks Come From?
A lot of eyes are on virtual reality and augmented reality. In addition, blockchain technology, which allows digital information to be distributed without it being copied. This technology is the backbone for cryptocurrencies like Bitcoin.
Another area worth watching is the internet of things. This is a network of physical devices that is embedded in electronics, software, sensors, and network connectivity which enable objects to connect and exchange data. Popular devices include Amazon’s Alexa and the Apple Watch.
With that said, technology evolves quickly, about 25 years ago, no one had a mobile phone, now mobile phones are faster than some computers. However, let’s not forget, the internet changed people’s lives, but in 2000 there was dot.com bubble. Whenever there is ground breaking technology, there will be firm’s looking to capitalize on the buzz.