AMD is focussed on Processors and Graphics technologies, and they're very good at what they do. The new Radeon GPU beat out even the impressive GeForce RTX 2080 Ti, which is no small feat in gaming. There's no doubt about it. As technology companies go, AMD is on the top shelf. If you're already invested, it's probably a smart move. For those who are looking to diversify by adding new or more tech stocks to their portfolios, there are some other prominent names to know when making your additions. Here are our top ten tech stocks to consider if you like AMD.
10. Alphabet Inc Class A: GOOGL
Alphabet Inc, aka Google, is last on the list because they're an obvious choice for any tech stock list. Arguably the best-known tech company in the world, Google has become a verb in the common vernacular. If you're building your portfolio on tech stocks, adding Google to the list at some point is almost a foregone conclusion. GOOGL always has its fingers in the best-new-tech-pie, and they don't mind letting the world, and the shareholders know all about it.
9. Roku: ROKU
In terms of technology companies, the tech and entertainment company known as ROKU is a relative newcomer. Nevertheless, as ubiquitous tech goes, ROKU is quickly surpassing other similar options and becoming a household name. This is one stock that's not for the faint of heart as the company has undergone some rollercoaster-like fluctuations. However, they seem to be settling into their 'groove,' and we don't doubt they'll continue to find places in an ever-growing number of homes as time passes.
8. Applied Materials, Inc: AMAT
"We are the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world." AMAT has had a rough year with chip sales down due to the trade issues with China. After all, the Chinese purchased a substantial quantity of the new chips produced in the world, and most of them come from right here in the USA. However, if you can take the long view, you'll quickly realize that large as it is, the current plunge in stock price is likely just a market wobble. We still think buying Applied Materials is a solid decision for long term investors.
7. Micron Technology: MU
You may know them better under one of their market names like Ballistix or Crucial, but MU is an outstanding computer memory and computer data storage company. From solid-state drives to NAND technology, Micron under any name is certainly creating the tech of the future, and it helped their stock gain 69% last year alone.
6. NXP Semiconductors: NXPI
NXP didn't get our top billing for a semiconductor company, but they did make the list. Whether commercial, automotive, or other applications, NXPI has a sizeable chunk of the market solidly within their grasp. Processors with integrated neural nets and more are just part of NXP Semiconductors 'wheelhouse,' and all of it spells long term profits. In terms of stock value, we think they're only headed upward. (nxp.com)
5. Splunk: SPLK
We've said this before, and we'll repeat it. Splunk is a great investment. That's why it made the top five on this list. In the realm of technology, there's a lot of data, and all of it means nothing if you can't interpret it accurately to get info and answers in a palatable and useful format. That's the core of what Splunk does, turning numbers and vast quantities of data into practical business solutions. Since big business isn't about to stop needing those answers, Splunk is a company that seems all but destined to grow exponentially as people collect more data and need more answers.
4. Activision Blizzard: ATVI
Given the popularity of Esports, investing in a game company is an often overlooked way to diversify within a tech-heavy portfolio. Activision Blizzard knows how to pump out hit games for pro players and home gamers alike as well as investing in the growing esports industry. While their competition like EA and Nintendo also make good investments, it's Activision we think is the real one to watch in 2020 and beyond for long term investors.
3. Microsoft: MSFT
Microsoft needs no introduction. As a bluechip stock, rounding out any tech portfolio with a solid company like MSFT is a fairly safe move. Though the company goes through the same fluctuations as any major established corporation, Microsoft is firmly entrenched in the tech industry and also arguably the best known, or one of the top five best-known technology companies you can invest in.
2. Amazon: AMZN
It's no secret that Amazon is one of the fastest-growing companies in the world. While some investors may overlook AMZN as a tech property because they work primarily in sales and shipping. However, Amazon's not-so-secret weapon has always been its investment in technology beyond the original platform. From payment processing to drones that drop packages, AMZN is one Bluechip tech stock that's reinvesting in a lot more than their IoT devices and selling 'stuff.'
1. NVIDIA: NVDA
Wherever tech stocks are being discussed, one name comes up every time for 2020. NVIDIA makes semiconductors and other tech hardware essentials for automotive manufacturers, gaming systems, and others. As Bank of America’s top large-cap semiconductor pick, among many others, the growth potential is largely recognized. In fact, some analysts are hailing NVDA as the next millionaire maker, and we agree.
Technology is such an incredibly diverse field. It's difficult to choose just ten options, however, we feel that these particular stocks are all on the rise in the long run, if not at the moment. Choices like ATVI may be down for the moment, but the demands they supply ae growing. Some of the obvious tech giants are always good choices for a tech portfolio, while other newer properties have grown up in their wake. The one certainty about tech investments is that, like investing in physical property, tech is something people everywhere need, rely upon, and can never seem to get enough of.
Written by Bill Vix
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