3 Blue-Chip Technology Stocks That Will Break Through the Ceiling

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U.S. equities are trading mixed on Friday on light volume, with the Dow Jones Industrial Average stalling in the doldrums between its 20-day and 50-day moving averages.

3 Blue-Chip Technology Stocks That Will Break Through the Ceiling

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The Federal Reserve remains in focus, with the PCE inflation rate topping 2% for the first time in almost five years, increasing the odds of an aggressive pace of rate hikes through the end of the year.

And the political headwinds remained focused on the gridlock in Washington threatening to stall any tax reform efforts.

But after a relatively subdued March, by many measures, stocks have worked off some of the speculative excess seen at the end of February. As a result, a number of stocks in key leading sector groups like industries, financials and technology are pushing higher.

Here are three big technology stocks on the move:

Technology Stocks to Buy: Intel Corporation (INTC)

Technology Stocks to Buy: Intel Corporation (INTC)Intel Corporation (NASDAQ:INTC) shares are perking up out of a four-month downtrend, lifting off of support at the 200-day moving average to cross back over the 50-day average. Watch for INTC to make a run at double-top resistance near $38.

Intel stock has been in a sideways pattern since September amid concerns about PC demand and increased competitive pressure from Advanced Micro Devices, Inc. (NASDAQ:AMD) and the launch of its new CPU architecture.

But the recent acquisition of autonomous vehicle technology provider Mobileye NV (NYSE:MBLY) has sparked fresh interest as INTC continues to push into new areas of growth. Intel will next report results on April 27 after the bell. Analysts are looking for earnings of 65 cents per share on revenues of $14.5 billion.

Technology Stocks to Buy: Amazon.com, Inc. (AMZN)

Technology Stocks to Buy: Amazon.com, Inc. (AMZN)Amazon.com, Inc. (NASDAQ:AMZN) shares are blasting to new record highs thanks, in part, to ongoing reports of woes in the traditional retail space, as the likes of Target Corporation (NYSE:TGT) is struggling with a loss of market share to the e-commerce giant.

Barclays analysts recently initiated coverage of AMZN, along with the broader consumer internet sector, noting we are on the cusp of “Golden Years” for mobile shopping. They are looking for a $1,120 AMZN price target.

Amazon will next report results on May 4 after the close. Analysts are looking for earnings of $1.05 per share on revenues of $35.8 billion.

Technology Stocks to Buy: Microsoft Corporation (MSFT)

Technology Stocks to Buy: Microsoft Corporation (MSFT)Microsoft Corporation (NASDAQ:MSFT) shares are lifting gently, but confidently out of a tight three-month topping pattern.

Investors have been digesting the solid earnings report from back in January, with earnings of 83 cents per share driven by a 1.5% increase in revenue from last year. MSFT continues to successfully transition its business model from a software-as-a-product to a software-as-a-service subscription model. Microsoft is also making ongoing inroads into the cloud, social media (LinkedIn) and AR/VR technology.

MSFT will next report results on April 27 after the close. Analysts are looking for earnings of 69 cents per share on revenues of $22.5 billion.

Anthony Mirhaydari is founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers. Redeem by clicking the links above.


Article printed from InvestorPlace Media, https://investorplace.com/2017/03/3-blue-chip-technology-stocks-break-ceiling-amzn-intc-msft/.

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