Best Tech Stock to Buy Right Now

Best Tech Stock to Buy Right Now

Nowadays, investing is perceived as a new means to make money to be set aside while hustling through your 9 to 5 job with the hope of building wealth. The concept itself of paying out a certain amount with the anticipation of gaining more money throughout time is tempting. For that reason, it is of immense importance to know the best tech stocks to buy right now and structure an investment plan from there to start capitalizing on your money in the stock market. Yet, let us not forget that buying stocks is perceived as what some would call a ‘slippery slope’ if the moves are not adequately studied and thought of their consequences in the future. 

The COVID-19 pandemic has a critical role to play in shaping the market’s future, with Big Tech stocks leaping into one success after the other on Wall Street. The pandemic accelerated the global success of the tech giants, such as MicrosoftGoogle, and Apple – and newly rising tech companies – with one megahit after the other in market valuation. 

It is of immense importance, before investing, to pinpoint what kind of investor you are aiming to be, what is the goal pushing you to make such an investment, and to what extent are you willing to risk it? And from there you will have a clearer idea as to which best tech stock to buy right now.

There are two types of investors, the ones that follow the traditional online broker method of managing their wealth’s growth through stocks, and the ones that invest their money, let the stock and just sleep on it.

But investing isn’t just about knowing how much you are willing to capitalize on in the market; it is also about finding the best tech stocks to buy.

Let’s look at some technology stocks to invest in, all while considering that they are deemed necessary due to the notable boost in revenues and what they are to offer for future projects.

1.          Raytheon Technologies

This Massachusetts aerospace and defense company is considered a good investment for the long-term, mainly due to its impressive fourth quarter (Q4) for 2021, with a 13.8 percent increase in Year-over-Year (YoY) revenue, as well as a $5 billion free cash flow.

Raytheon is expecting a solid sales revenue for 2022, ranging from $68.5 billion to $69.5 billion, marking a 7 to 9 percent increase in organic sales – revenues generated from within the company.

Over the past three quarters, the aerospace company maintained an earnings growth of 112 percent. This sets the stage for a promising long-term performance.

As one of the leading missile defense systems, aircraft engines, and communications technology makers, the company benefits from the Russian-Ukrainian crisis, as modern warfare technology is sending the defense stocks on an exponential rise. 

The sharp rise in valuation is also reinforced by the U.S. and European Union’s heightened spending on defensive technology, escalating geopolitical tensions, and the threat of cyber breaches. Raytheon could be considered as one of the beneficiaries of the invasion of Russia, as the U.S. is sending the company’s trailblazing Patriot Missile defense system to some NATO countries, which are sending an earlier version of anti-aircraft defense systems.

Raytheon Technologies Corporation’s stock currently stands at $104.45 as of the time of writing, and the highest share valuation of $104.98 at a total average share volume of approximately 8,800,000 shares, according to Nasdaq.

2.         LPL Financial Holdings Inc.

As more Americans pursue professional financial advice, LPL delivers the right resources to augment the level of consultation of investments. Holding an estimate of 20,000 advisors spread globally, LPL plunged into a 34 percent increase in revenue in YoY in 2021 with a whopping $1.2 trillion valuation.

The company provides technology, brokerage, and investment consultancy and advisory by developing business connections to retail investors through various types of financial advisors.

Wall Street experts expect broker dealer’s earnings per share (EPS) to reach 35 percent in 2022, an analysis based on its 18 percent increase in revenue, and is expected to leap by another 50 percent in 2023.

LPL’s increase in stock valuation could also be attributed to the rise in interest rate. Predictably, financial stocks are associated with the Federal Reserve’s federal funds rate. Due to the 2021’s Federal rise in its key interest for the first time since 2018, LPL’s revenue upsurge is also driven by the surge in federal reserve funds.

As of the time of writing, the investment banking firm’s stock currently stands at $216.00 per share, with the highest share valuation reaching $216.13 at a total average share volume of 780,497, according to Nasdaq.

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