5 Big Tech Stocks That Just Caught Fire

tech stocks - 5 Big Tech Stocks That Just Caught Fire

Source: Flickr

U.S. stocks are pushing higher on Tuesday as the post-payrolls rally that kicked off on Friday continues, but perhaps no sector is looking better than technology.

tech stocks

Investors are being encouraged by some very positive comments out of OPEC heading into a big production meeting later this month in Algiers. The hope, for the bulls, is that a supply freeze agreement — which has been hinted at since February — can actually come to fruition now that Iran’s output has returned more or less to pre-sanctions levels.

Energy is doing great, as you’d imagine. The Energy Select Sector SPDR (ETF) (NYSEARCA:XLE) is up nearly 2% today as the news unfolds. But for whatever reason, which only the market gods can understand, the headlines have set off a surge of buying demand in blue-chip tech stocks — pushing many out of multi-week consolidation ranges with awesome looking breakouts.

Here are five tech stocks that investors should be targeting right now:

Facebook (FB)

Facebook Inc (FB) Stock ChartFacebook Inc (NASDAQ:FB) shares popped up and out of a three-month range on Tuesday, pushing up and over its late July post-earnings highs. The social giant recently unveiled live instant video and continues to enjoy solid user metrics.

Analysts at Axiom are also excited about the prospects of the company’s Oculus Rift VR gaming headset, which CEO Mark Zuckerburg believes is the next major computing and social platform.

Facebook will next report results on Nov. 2 after the bell. Analysts are looking for earnings of 96 cents per share on revenues of $6.9 billion.

Amazon (AMZN)

Amazon.com, Inc. (AMZN) stock chartAmazon.com, Inc. (NASDAQ:AMZN) has popped up and out of a three-month range as it breaks above trendline resistance from the rise that started back in February. AMZN has been in the news lately after announcing Amazon Vehicles, which will help facilitate the always stressful car buying process.

Amazon will next report results on Oct. 20 after the bell. Analysts are looking for earnings of 77 cents per share on revenues of $32.6 billion.

Alphabet (GOOG, GOOGL)

Alphabet (GOOG, GOOGL)Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL) shares are challenging its early August highs, challenging levels first reached in late 2015. Aside from continued success in its YouTube and other web platforms, the company remains a leader in emerging technologies like VR/AR and autonomous transportation.

GOOGL reported better-than-expected earnings and revenues back on July 28, with 21.3% top-line growth.

Alphabet will next report results on Oct. 20 after the close. Analysts are looking for earnings of $8.62 per share on revenues of $22 billion.

Intel (INTC)

Intel (INTC)Intel Corporation (NASDAQ:INTC) broke above the $36-a-share resistance level that has limited the stock since late 2014 amid lingering concerns about the health of the PC industry and its exposure to faster growing segments. Recent headlines have focused on the company’s efforts in new-tech areas like autonomous driving, 5G wireless and more.

Intel will next report results on Oct. 18 after the close. Analysts are looking for earnings of 66 cents per share on revenues of $14.9 billion.

Netflix (NFLX)

Netflix (NFLX)Netflix, Inc. (NASDAQ:NFLX) is challenging its 200-day moving average yet again, threatening a breakout from the long sideways slog that has bogged it down all year.

Netflix isn’t as fundamentally attractive as these other tech stocks. Down 30% from its late December peak, NFLX has been the focus of some skepticism in light of tepid user metrics and increasing competition.

In recent days, however, vague takeover chatter has been circulating.

Netflix will next report results on Oct. 17 after the close. Analysts are looking for earnings of 6 cents per share on revenues of $2.3 billion.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2016/09/5-big-tech-stocks-caught-fire-fb-amzn-goog-nflx-intc/.

©2021 InvestorPlace Media, LLC