In the midst of all the chaos, there was a bull trend in the stock market for technology stocks that had adapted to the new economic conditions and seemed to thrive in them. It is worthwhile to note that the S&P 500 Index ranks the biggest companies of the United States according to their market capitalizations. The dominance of the technology stocks on the stock market is explained by the returns they offer to investors globally. Some analysts are skeptical about soaring valuations and stock prices of technology giants and growth companies like Tesla, Inc. Many famous investors and hedge funds are setting new, baffling price targets for the company. Choosing valuable stocks for long term has become extremely important in the current age of market speculations, soaring valuations without underlying fundamentals, and financial volatility, which is causing even the experts to struggle.
Insider Monkey highlights the 10 best tech stocks to invest in for long-term gains. Shopify is different from other e-commerce giants in that it offers businesses integrated solutions for selling their products on its platform. Business owners can expect a dedicated set of features if they sell on Shopify, including mobile application services, brand management, and social media support. Stifel set a price target of $1200 for Shopify, and an analyst at the financial services firm backed the international expansion plans of Shopify for sustainable growth in 2021. In February 2021, Match Group, Inc. announced that it was buying Hyperconnect, a Korean social media firm, in a deal worth $1.73 billion. The purchase was the largest acquisition of Match Group to date. On April 12, Match Group stock gained after financial services firm BTIG upgraded the rating on the firm to Buy from Neutral. International Business Machines Corporation has been gaining in Asian markets in recent years. Earlier this month, the Saudi government launched a digital payment system in the Middle Eastern kingdom in collaboration with IBM. Salesforce also featured among the top picks of the bank with a price target of $275. Last week, Salesforce announced a new cloud product called Service Cloud for personalized internet-based needs. Square, Inc. makes it easier for business owners to accept electronic and digital payments. It provides businesses with the devices they need to accept these payments, like Magstripe reader, a device that accepts transactions from magnetic swipe cards. Read details in The 10 Best Tech Stocks to Invest in for Long-Term.
