If you’re wondering which tech stocks to buy right now, look no further. As the tech industry fluctuates, astute investors focus on three titans as sources of hope in the turbulent waters of uncertainty. Every business offers a different story of inventiveness and tenacity, providing special opportunities for those trying to make sense of the unpredictable digital investment market.
To begin with, the first one promises significant profits for early investors thanks to its revolutionary developments in autonomous driving technology, which signify a revolutionary shift in the automobile industry. On the other hand, the second one’s remarkable ad impression growth year-over-year (YOY) and a rise in average ad rates highlight its unparalleled leadership in digital advertising and offer growth-oriented investors a profitable opportunity.
However, the third one’s remarkable revenue increase over the previous year, supported by solid results in a variety of areas, including AI PCs, shows its flexibility and endurance in a constantly changing market. Furthermore, the expected bouncebacks in its primary business areas suggest a more widespread revival, signifying increased market acceptance and demand for innovative solutions.
Overall, these companies strategically prepare themselves for the eventual comeback based on strategic innovations and durable performances.
Tech Stocks to Buy: Tesla (TSLA)
In North America, Tesla (NASDAQ:TSLA) has installed its full self-drive (FSD) version 12 on almost 1.8 million cars enabled by Hardware 3. Since its release, FSD V12 has been driven over 300 billion miles, demonstrating substantial real-world testing and data collection. The speed at which FSD technology develops highlights how quickly the company’s main innovations progress.
Furthermore, Tesla is leading the pack in the development of fully autonomous cars. Because of its breakthroughs in FSD technology, it has the potential to transform the automotive sector completely. The substantial real-world testing and broad implementation of FSD Version 12 add to Tesla’s data edge, allowing for ongoing enhancement and development of its autonomous driving capabilities. Tesla hopes to increase its customer base and spread the use of its autonomous driving technology by providing FSD features and subscriptions at a reasonable cost, opening up prospects for future expansion.
Finally, in Q1, Tesla almost increased the amount of consecutive AI training computed. “More than doubling” refers to a substantial rise in computing power used for AI training. Thus, Tesla’s AI infrastructure may require significant expansion, as shown by the emphasis on doubling the computing training.
Meta (META)
There was a 20% YOY rise in ad impressions provided throughout the Meta (NASDAQ:META) Family of Apps. This rise reflects increasing advertiser demand and user engagement across Meta’s platforms due to the growing amount of advertising served to users. The rise of ad impressions fuels growth in Meta’s income, giving advertisers additional chances to connect with their target markets.
Moreover, a 6% increase in the average price per ad YOY suggests that Meta’s advertising platform is now more efficiently monetized. Meta obtained greater pricing for its ad inventory despite the rise in ad impressions, increasing revenue per impression. The average ad price increase indicates that advertisers are spending more on ad placements because they think Meta’s advertising services are more valuable.
Looking forward, Meta will continue to expand its income by investing in data analytics, ad targeting skills, and advertising technologies. Therefore, ad impressions and average ad pricing will continue to rise due to the company’s emphasis on increasing user engagement, growing the ad inventory, and boosting ad relevancy.
Intel (INTC)
Last on the list of tech stocks to buy right now is Intel (NASDAQ:INTC). In Q1 2024, Intel’s sales growth trend is there, with first-quarter revenue increasing 9% YOY to $12.7 billion. This expansion shows the business can bring in a sizable amount of money. Several segments, including Intel Products and Intel Foundry, are responsible for the revenue increase. Intel Products’ sales increased by 17% in the last year to $11.9 billion, indicating the strength of the company’s product line.
Additionally, contributions from the client, data center, AI, networking, and edge sectors have diversified several business areas. For instance, Intel’s supremacy in this developing area highlights the progressive launch of AI PCs. Over 5 million systems have been supplied since December 2023.
Following periods of recession or stagnation, there may be cyclical recoveries in NEX, Mobileye, and Altera. This suggests that these business categories are again enjoying better market circumstances. NEX stands for Intel’s Network and Edge business unit, which includes edge computing and networking technologies. Lastly, Altera specializes in programmable logic chips, whereas Mobileye focuses on autonomous driving technologies.
Overall, the predicted recoveries in these categories point to rising demand for each company’s corresponding goods, which boosts Intel’s top-line growth.
As of this writing, Yiannis Zourmpanos held long positions in META and INTC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.