Stocks To Watch This Week? 5 Consumer Tech Stocks In Focus

Do You Have These Top Consumer Tech Stocks On Your Watchlist Right Now?

After August’s retail sales data came in well above consensus estimates, consumer tech stocks could be back in action. For the most part, the broader stock market could be looking to power through uncertainty around the current state of the economy. With consumer spending reaching unexpected levels, some investors could be turning back to the hot sector now. If anything, the industry is ever ready to impress investors via a constant flurry of expansions and moves.

For instance, we could take a look at the likes of Alibaba (NYSE: BABA) and Zoom (NASDAQ: ZM) right now. On one hand, Alibaba seems to be optimizing its operations in Southeast Asia now. This is evident seeing as its Lazada e-commerce division is reportedly hiring an Ant Group veteran to lead its payments team. Additionally, Alibaba is also consolidating its community group buying services under a new brand, Taocaicai. On the other hand, Zoom is bringing a slew of new features to its teleconferencing platform. This includes live translation, whiteboard sharing, and even integrations with Facebook (NASDAQ: FB) among others. All in all, could this make these top consumer stocks worth watching in the stock market today?

Best Consumer Tech Stocks To Buy [Or Sell] TodayPinterest Inc.

Pinterest is an image sharing and social media service that engages its users to save and discover information on the internet via images, animated GIFs, and videos. The company has headquarters in San Francisco and boasts over 450 million global monthly active users. It recently announced its Idea Pin product tagging feature that will empower Creators to make inspiring and shoppable content. 

best social media stocks to buy now (PINS stock)

In late July, the company reported its second-quarter financials. Notably, its revenue for the quarter grew by a whopping 125% year-over-year to $613 million. Furthermore, it posted a GAAP net income of $69 million for the quarter while adjusted EBITDA was $178 million. Pinterest notes that this quarter’s results reflect both the strength of its business and the recent shift in consumer behavior that it has seen as people spend less time at home.

It, however, continues to build for its long term by transforming from a place to browse, save, and organize to a community that inspires people to share their passions and expertise. All things considered, will you buy PINS stock?

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Roblox Corporation

Next up, we have Roblox Corporation, a consumer tech company that focuses on video game development. In essence, the company is powered by a global community of millions of developers who produce their own immersive multiplayer experience using the Roblox Studio. Roblox Studio is an intuitive desktop design tool. The company is ranked as one of the top online entertainment platforms for audiences under the age of 18 and its popularity is driven by its community of users and developers.

video game stocks (RBLX stock)

Last month, the company reported its second-quarter financials as well. Firstly, revenue for the quarter was $454.1 million, up by 127% year-over-year. This was driven by increased bookings of 35% compared to a year earlier at $665.5 million. Secondly, Roblox reported an average daily active user (DAU) count of 43.2 million, an increase of 29% year-over-year.

Last week, Roblox released its August 2021 key metrics. It saw DAU continuing to rise to 48.2 million for the month. Given this exciting piece of news, will you consider RBLX stock a top consumer tech stock to be on the lookout for?

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Square Inc.

Square is a financial services and digital payments company with headquarters in California. In fact, the company is a cohesive commerce ecosystem that helps its users start, run, and grow their businesses. It combines sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. SQ stock is up by over 70% in the past year alone.

fintech stocks to buy (SQ stock)

On Thursday, the company announced an Early Access Program in Spain. The service offers exclusive access to an integrated set of omnichannel tools for businesses and freelancers to sell and deliver their services more easily both in-store and online.

Square’s Executive Director for Europe, Jason Lalor, said. “We’re excited to begin partnering with Spain’s rich business community to refine and enhance our products before the official launch, ensuring we deliver the solutions Spanish businesses need to thrive, both in-person and online.” With that in mind, will you consider SQ stock a buy?

Advanced Micro Devices Inc.

Following that, we will be taking a look at Advanced Micro Devices, or as it is often called, AMD. For the uninitiated, AMD is a top name in the global semiconductor industry now. The company specializes in developing and marketing computer processors. Notably, AMD’s processors are among the best in consumer markets now. As it stands, AMD stock has enjoyed gains of over 150% since its pandemic era low, could it be worth buying now?

best tech stocks to buy (AMD stock)

Well, for one thing, the company could stand to benefit from the global semiconductor chip shortage in the long term. This would be the case as demand for devices containing their wares continues to skyrocket today. Evidently, AMD saw green across the board in its latest quarterly earnings report back in July.

In it, the company posted massive year-over-year gains of over 346% in both net income and earnings per share. Moreover, AMD is set to close its $35 billion acquisition of fellow chipmaker Xilinx later this year. Would this make AMD stock worth buying for you?

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Apple Inc.

Last but definitely not least, we have Apple. Arguably, few can boast a consumer tech portfolio as influential as Apple’s today. This would be the case from its industry-leading tech devices. The likes of which make up the company’s comprehensive ecosystem ranging from smartphones and laptops to even smart TVs and watches. In fact, Apple just launched its next-gen smartphone, the iPhone 13 earlier this week. Thanks to the company’s latest fall product release, investors could be watching AAPL stock closely now.

best tech stocks (AAPL stock)

With the company’s shares mostly trading sideways over the past month, should investors be jumping on? For the most part, the current movement in AAPL stock would be confusing for some.

Despite launching its latest tech offerings, concerns over Apple’s global supply chain continue to weigh in on the company’s shares. Regardless, Krish Sankar, senior research analyst at Cowen (NASDAQ: COWN) believes that Apple can “weather the [supply chain] storm” better than most device makers. With that said, will you be adding AAPL stock to your portfolio?

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