The U.S. stock market is still very volatile this time of the year due to the increasing inflation rate, federal rate hikes, and the current war in the neighboring countries.
Despite this, tech stocks remain one of the sectors to watch this month. Experts and analysts said that there could be unexpected market movements in the tech stocks.
However, you have to be careful because not all tech stocks will help you gain profit. There are tech stocks that you need to watch and invest.
In a published article on the website of NASDAQ, here are the 3 tech stocks that you need to invest in and avoid this week.
2 Tech Stocks To invest in and avoid this week. (Photo: StockMarket)
Amy Shapero, Shopify’s CFO, said “While commerce through offline channels grew faster in Q2, where our exposure is lower but growing, we continued to see increased adoption of our solutions, enabling our merchants to remain agile against a challenging macro environment and highlighting the breadth and resilience of our business model.”
Shopify is a Canadian e-commerce platform that offers online retailers to sell and buy products. In its 2nd Quarter 2022 report, Shopify lost $0.01 per share and with revenue of $1.3 billion. On the other hand, the e-commerce platform got a 16% increase in revenue at the same time last year.
Amy Hood, executive vice president, and CFO of Microsoft, said “In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform. Commercial bookings grew 25% and Microsoft Cloud revenue was $25 billion, up 28% year over year.”
Microsoft is best known for its software products Microsoft Windows, Microsoft Office suite, Internet Explorer and Edge web browsers. Additionally, Microsoft is one of the largest technology companies in the world.
In its report last July, the company posted earnings of $2.23 per share. As well as revenue of $51.9 billion. This is in comparison to, analysts’ consensus estimates of earnings of $2.28 per share, on revenue of $52.9 billion.
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