The best growth stocks to buy now? 3 names of consumer technologies to check

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Are these the best growth stocks to buy for 2022?

While the larger scholarship today continues to seek direction, investors may want to consider consumer tech stocks. For the most part, this would be due to the ever increasing demand for what the industry offers. It ranges from your typical smartphone to cutting edge smart home technology. Like it or not, the world of consumer tech has evolved and continues to evolve and thrive amid the current volatility of consumer markets.

Earlier today, the latest US gross domestic product (GDP) figures are now available. The country’s GDP grew at an annualized rate of 2.3% during the July-September quarter. Overall, the upward revision to GDP likely came as personal consumption climbed 2%. However, this represents a notable drop from the 6.7% overall GDP increase in the previous quarter. Plus, another key metric to note in the stock market Now would be the last reading of the core index of personal consumption expenditure. It increased 4.6% quarter over quarter, improving from 5.9% the previous quarter. In theory, the data suggests that consumers get better prices on goods and services while increasing their overall consumption.

For example, we could examine the likes of Groupon (NASDAQ: GRPN). Just yesterday, GRPN stock received a major positive update from Prescience Point. The company currently maintains that fintech is “significantly undervalued,” suggesting a price range of between $ 63 and $ 98 per share. Elsewhere, even if government agencies are hacked in this technological age, consumers might also consider cybersecurity services. As a result, consumers and investors could turn to leading names like CrowdStrike (NASDAQ: CRWD). As such, could any of these major players in consumer tech be worth watching right now?

Best growth stocks to buy [Or Sell] Now

Apple Inc.

First of all we have Apple, a multinational technology company specializing in consumer electronics, software and technology services. The company is one of the largest information technology companies in the world and also one of the most valuable. The company essentially revolutionized personal technology with the introduction of its premium Apple products such as the iPhone, iMacs, and AirPods. AAPL stock has risen by over 30% in the past year.

On Tuesday, rating agency Moody’s upgraded Apple’s long-term credit rating to “AAA” on Tuesday, with a stable outlook, citing the company’s exceptional liquidity and strong earnings. With this upgrade, Apple now joins an elite club of companies that include Johnson & johnson (NYSE: JNJ) and Microsoft (NASDAQ: MSFT) which received the highest rating from Moody’s. Moody’s analyst Raj Joshi said that Apple’s “very strong business profile” reflects its substantial scale of operation, a large installed base of products and users of its services, strong customer loyalty and high-end brand positioning.

As well, Morgan stanley (NYSE: MS) Analyst Katy Huberty wrote that iPhone production could surprise on the rise this quarter as lead times decrease to more normalized levels. She also cites a handful of data points the company has seen over the past month to substantiate her case. Additionally, Huberty notes that delivery times for Apple’s high-end iPhone 13 models, Pro and Pro Max, are 2 days as of December 21, down from 20 days a month ago. With that in mind, is AAPL stock one of the best mainstream tech stocks to buy right now?

Source: TD Ameritrade CGU

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Micron Technology inc.

Following this we have Micronic Technology, a consumer technology company that produces computer memory and data storage. In fact, the company is an industry leader in innovative memory and storage solutions. With a relentless focus on its customers, technological leadership and manufacturing excellence, it offers a rich portfolio of high performance DRAM, NAND and NOR memory products through its Micron and Crucial brands.

On Monday, the company reported strong first quarter results for fiscal 2022. Plunging, quarter revenue was $ 7.69 billion for the quarter, up 33.2% year on year on the other. GAAP net income for the quarter was $ 2.31 billion, or $ 2.04 per diluted share. “Micron delivered strong first quarter tax results thanks to strong product portfolio momentum,” said President and CEO Sanjay Mehrotra. “We are now distributing our leading DRAM and NAND technologies to key end markets, and we have delivered new solutions to data center, client, mobile, graphics and automotive customers. As powerful secular trends including the adoption of 5G, AI and electric vehicles fuel demand growth, our technology leadership and world-class execution position us to create meaningful shareholder value over the course of for fiscal year 2022 and beyond.

Earlier this month, the company also announced plans for its new memory design center in Midtown Atlanta, expanding the company’s reach in the Southeast. The new state-of-the-art center will open in January 2022. It will allow the company to expand its access to Atlanta’s rich pool of technical talent to further advance its leadership in memory design and performance. ‘engineering. All things considered, is MU stock worth investing in?

NASDAQ MUSource: TD Ameritrade CGU

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Qualcomm Inc.

Last but not least, we have Qualcomm, the world leader in wireless technology innovation. It is also one of the key players in the development and extension of 5G connectivity. The company claims that its core technologies enable the mobile ecosystem and can be found in almost all 4G and 5G smartphones. QCOM shares have gained more than 33% in the past six months.

Even so, Qualcomm doesn’t appear to be slowing down its turnover anytime soon. After launching its cutting-edge Snapdragon 8 Gen 1 processor chip earlier this month, it is reportedly already working on the next iteration of the technology. If that were to be the case, we could consider the release of the second generation of this high-end system-on-chip for flagship smartphones as early as next year.

Last month, the company also announced new growth targets and financial directions through 2024. In particular, it will expand its chipset business to meet growing opportunities in its technology. Additionally, Qualcomm expects its addressable opportunity to grow from around $ 100 billion today to $ 700 billion over the next decade. It comes as the world becomes more and more connected through devices powered by Qualcomm. An example would be its auto revenues, which Qualcomm expects to reach around $ 3.5 billion in five years and around $ 8 billion in 10 years. With this information, is the QCOM action a buy today?

NASDAQ QCOMSource: TD Ameritrade CGU


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