Best Tech Stocks to Watch Right Now
If you’re looking for the top tech stocks to watch as we roll into December and close out 2019, you’re going to want to keep an eye on the intersection of tech and retail for obvious reasons. The stock market was open on Black Friday and, believe me, so were the stores.
Shoppers splurged online to the tune of $7 billion on Black Friday alone, and we still have to get through the rest of the holiday shopping season. But which retail-oriented tech stocks should the savvy investor be keeping an eye on as we march toward 2020?
The first stock to watch is a retail brand that has become something quite a bit more in the eyes of its customers. The second is an e-commerce platform with surprising growth, powering the online shopping experience of millions of users. The third is, well, likely no surprise to you at all, but still worth watching like a hawk.
Peloton Interactive (Nasdaq: PTON)
Is Peloton an exercise bike or a lifestyle? The New York Times called Peloton a genuine phenomenon. To me, it looks like an exercise bike. But with my beer gut, dislike of movement and penchant for sitting at my computer eating snacks above exercise, I am clearly not the target market.
The company has over 500,000 subscribers right now, and that number is expected to keep climbing as Peloton continues to pursue growth above all else. And with the holiday season upon us, what many people will likely want for Christmas isn’t you but rather a shiny new Peloton exercise bike.
Peloton’s tech innovations combine hardware, connected technology and content to create an exercise experience that has converted true believers in the Peloton lifestyle. I’m not saying it’s a cult (I’m not not saying that) but where you have true believers or brand evangelists, you have a sustainable product and a hot stock to watch.
Peloton has climbed about 45% over the last month and is currently trading around $36. And now that we’re done being thankful and are back into “give me more stuff” mode, expect that it may climb even higher for the holidays. It won’t kill everyone to work off that extra pie and eggnog as well.
Shopify (NYSE: SHOP)
Looking for another tech stock that plays on retail for the holiday season? Why not look into Shopify, a company that doesn’t just sell stuff but helps other companies sell their stuff as well. And with e-commerce bigger than ever this holiday season, it may be time to leverage one of the biggest e-commerce-enabling platforms out there.
The company, which had a big year in 2019, is continuing to grow and expand and could become a truly viable competitor for some of Amazon’s businesses. Some have claimed that Shopify’s success has “come out of nowhere,” but those of us familiar with the platform could easily have seen its success coming.
And while not everyone is optimistic, Shopify stock could gain even more ground. Shopify’s eye-popping success should certainly make you sit up and take notice as we roll into the days of the holly and the ivy.
Since going public in 2015, Shopify has seen annual revenue growth of 70%. And while it’s only grown about 4% over the last 30 days, the stock is on a general uptrend that could keep climbing higher through retail boom season.
Amazon (Nasdaq: AMZN)
I didn’t buy anything from Amazon for Black Friday. And I didn’t for Cyber Monday. Here’s the thing, though. Many people did. A whole lot of people.
Yes, I understand that Walmart is giving Amazon a run for its money in the retail space these days. But come on. This is Amazon and we are in prime Amazon season (see what I did there?).
It’s true, Amazon has struggled somewhat since July and you could say its stock has been stagnating. That’s probably not going to continue forever.
When it comes to Amazon, you can’t really use the “parking lot indicator” to see how many people are shopping there. But come on – you know all your friends are on Amazon’s website buying up a storm. Just ask them!
I’m not saying it’s a definite winner – not by any stretch. What I am saying is that despite being down about 1.5% over the last month, Amazon is a behemoth that isn’t going anywhere other than to the bank to deposit all the money from everyone you know.
So if that doesn’t make Amazon a tech stock to watch this month, I don’t know what does.
Brian M. Reiser
Investment U Contributing Writer
We’re always keeping our eyes on the best tech stocks to watch in the market. If you want to stay updated too, subscribe to our free eletter and get the updates delivered right into your inbox each day. Signup in the box below.
About Brian M. Reiser
Brian M. Reiser has a Bachelor of Science degree in Management with a concentration in finance from the School of Management at Binghamton University.
He also holds a B.A. in philosophy from Columbia University and an M.A. in philosophy from the University of South Florida.
His primary interests at Investment U include personal finance, debt, tech stocks and more.