Tech stocks

Although the stock market witnessed a downfall in 2020 and the downfall persists still, reports have it that tech stocks were not amongst the major sufferers when the pandemic broke out in 2020. On the contrary, survey reports have shown a surge in maximum profits and healthy ROI for the technology industry.

Tech stocks operated on the lines of profit in 2020 as people sought shelter in cyberspace. A survey conducted on the purchase of smartphones shows an escalation from 1.06 in 2016 to 4.3% in 2020. In this context, it would be ideal to highlight the purchase of iPhones that dropped to 46% in 2020 from 49% in 2019 and again ascended to rest on 65% in 2020.

However, a decline in the soaring tech stocks was also anticipated by economists.

Tech Companies That Are Taking The Bull By The Horns

In alignment with the warning of a downfall, the report on the recent stock market seems unsatisfactory. On the brighter side, it has also come to notice that the Federal Reserve System will not interfere with the fluctuation of stocks anytime soon. This can be taken as a sign of high valuation growth.

Amidst the drooping stock market shows promising again. We have made a list of some of the high-quality technology stocks from companies known to be technologically advanced in terms of their products and services. These tech stocks, are likely to bounce back in 2021.

Morgan Stanley

Morgan Stanley is not exactly tech per se but is often counted as one as it has its dealings in fintech. The company has released a report on its stock status for 2021. The report shows a substantial improvement in revenues from $9.8 billion in 2020 to $15.7 billion in March 2021. James P. Morgan, the CEO, and chairman of Morgan Stanley states that the firm has never failed to deliver record results. The Integrated Investment Bank continues to thrive over $1.4 trillion in assets.

Apple 

Apple whose stocks plummeted to 46% in 2020 is now on the ascend as per reports of Apple News Room. The company disclosed the rise on the second quarter record revenue of $89.6 billion as the sales in iPhones and ipads surged to 65% in 2021. Tim Cook, the CEO of Apple notes that this amount generated in this quarter is not only satisfactory for the company but also escalates a motivation that its products are efficient in meeting the demands and needs of their clients.

Microsoft 

Microsoft’s earnings in the third quarter of the fiscal year have taken the tech stock market by storm as the company reports 19% revenue growth. This percentage in revenue growth remains to be below the expectations of the company. Additionally, the company has also reported about 45% EPS growth in Q3. With its generation of $17.7 billion in commercial cloud, the software giant is likely to witness a bounce back in its stocks in 2021.

PayPal 

Paypal is a reputed technology platform for digital payments. The company operates with the objectives to help merchants and consumers with online transactions. Reportedly, the tech stocks of PayPal are standing out for some legitimate reasons. Investors are now being even more serious about PayPal as general observations on fintech’s improvement amidst the pandemic are promising.  PayPal announced a total volume of $285 billion in quarter 1.

With the majority of the consumers taking to virtual modes of payment to adhere to contactless operations, fintech’s revenue growth at a rapid rate is not surprising.

Samsung 

On April 29, 2021, Samsung electronics had announced its first-quarter results. The report on the tech stock growth of Samsung is likely to improve as it shoots up from KRW 9.38 trillion to KRW 65.39 trillion in the second half. The company has been enjoying a surge in the sales of Notes and tablets since 2020 that subjected the youth to cyberspace.