Top Stocks To Buy This Week? 4 Tech Stocks To Watch

Do You Have These Top Tech Stocks On Your July 2021 Watchlist?

As we begin a new week of trading, we are looking to see if tech stocks can continue to gain with the broader stock market. Evidently, this seems to be the case as the tech-heavy Nasdaq composite continues to etch towards new highs last week. If anything, this could be due to investors diversifying their portfolios instead of just focusing on reopening stocks.

Admittedly, the red-hot reopening trade has and continues to drive the valuations of reopening stocks higher. However, there are now fears over the rise of the delta variant of the coronavirus in the U.S. Namely, even White House chief medical advisor Dr. Anthony Fauci argues that it is the “greatest threat’ to America’s fight against the pandemic. To highlight, Dr. Fauci believes that this variant of concern could be the dominant strain in the nation by as early as next week. This would put a damper on the current economic recovery as the delta variant is among the most highly contagious known variants of the coronavirus now. In this case, it would not surprise me to see investors turning back to tech stocks.

After all, the tech industry thrived throughout 2020 as the pandemic ravaged the globe. We can see that the signature pandemic tech company, Zoom (NASDAQ: ZM) is already looking at gains of over 18% in the past month. Meanwhile, tech giants such as Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) continue to make massive plays this week. Microsoft unveiled its Windows 11 operating system while Amazon is looking into autonomous delivery robot tech. Arguably, tech stocks could once again be among the group of trending stocks to watch in the stock market today. Should that be the case, here are four tech players to keep an eye on now.

Best Tech Stocks To Watch In July 2021

Marin Software Inc.

Marin is a tech company that focuses on online advertising. The company prides itself on giving advertisers the power to drive higher efficiency and transparency in their paid marketing programs that run on the world’s largest publishers. It provides enterprise marketing software for advertisers and agencies to integrate, align, and amplify their digital advertising spend across the web and mobile devices.

top tech stocks (MRIN stock)

Last month, the company announced that it has added the ability to manage Instacart Ads to its flagship MarinOne platform. The integration makes it easier for brands to connect with customers directly at the point of sale. Instacart is the leading online grocery platform in North America and partners with more than 600 national, regional, and local retailers.

Customer habits shifted during the pandemic and online grocery delivery was a big beneficiary,” said Chris Lien, Marin’s Chairman, and CEO. “As the leading online grocery platform in North America, Instacart is a must-have part of digital marketing strategies. We are delighted to give advertisers on Instacart the power of MarinOne to maximize return on their investment.” Given the excitement surrounding the company, will you consider adding MRIN stock to your portfolio?

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Taiwan Semiconductor Manufacturing Co. Ltd.

TSM is a multinational semiconductor contract manufacturing and design company. The company pioneered the pure-play foundry business model when it was founded. It deploys over 280 distinct process technologies and manufactures over 10,000 products for 510 customers in 2020.

top tech stocks (TSM stock)

This includes providing the broadest range of advanced, specialty, and advanced packaging technology services. TSM stock currently trades at $118.91 as of Friday’s close and has more than doubled in the last year.

In June, the company announced its May 2021 revenue report. Its net revenue for the month was $4.02 billion, which is an increase of 19.8% year-over-year. It also announced together with NXP Semiconductor the release of NXP’s S32G2 vehicle network processor into volume production on TSM’s advanced 16 nanometer (nm) FinFET process technology. All things considered, will you watch TSM stock as a top tech stock?

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Luminar Technologies Inc.

Following that, we will be looking at Luminar Technologies Inc. For some context, Luminar identifies as an autonomous vehicle (AV) sensor and software manufacturer. In fact, the company’s light detection and ranging (lidar) sensors are among the few that meet the automotive industry’s stringent performance and safety requirements. Moreover, Luminar is currently working with 50 industry partners to further refine its AV offerings. In its list of partners, 8 are among the top 10 global automotive original equipment manufacturers (OEMs). Given the current interest in the AV industry from big tech players, Luminar’s ware could be in focus now.

best autonomous vehicle stocks to buy (LAZR stock)

Similarly, it would make sense then that investors would also be eyeing LAZR stock now. The company’s shares currently trade at $20.99 a stock as of the end of Friday’s trading session. Despite the current dip in LAZR stock, Luminar continues to deliver on the operational front. Just last week, the company provided a significant update on its existing collaboration with leading auto OEM, Volvo.

Diving right into it, Volvo will be integrating Luminar’s lidar system on its upcoming electric SUV. More importantly, Volvo is the first major carmaker to integrate Luminar’s tech as standard equipment on a vehicle. Considering this strategic development, will you be adding LAZR stock to your watchlist this month?

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Micron Technology Inc. 

Another name in the tech space to know now would be Micron Technology Inc. In brief, the Idaho-based company primarily produces computer memory and computer data storage chips. For the most part, this includes dynamic random-access memory (DRAM), flash memory, and USB flash drives. Now, with the pandemic, more consumers would be turning to Micron’s offerings. This would be the case as the work from home movement persists in some parts of the globe. Because of this, investors could be considering MU stock for their tech stock lists now.

top tech stocks to watch (MU stock)

For one thing, the demand for Micron’s chips is rather evident from its latest quarter fiscal figures. In it, the company posted earnings per share of $1.88 on revenue of $7.42 billion for the quarter. This would mark sizable year-over-year surges of 36% in total revenue and 164% in earnings per share. Notably, these figures noticeably exceeded Wall Street’s estimates.

According to Micron CEO Sanjay Mehrotra, the company set “multiple market and product revenue records” in the quarter. This would mark its largest sequential earnings improvement to date. Overall, Mehrotra cites strong demand for Microns’ DRAM and non-volatile flash memory (NAND) offerings for the current performance. Long-term, he believes that Micron is in the “best position ever” to leverage existing trends in its current end markets. Would this make MU stock a top watch for you right now?

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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