SPECIAL REPORT The Top 7 Stocks for 2024

What Are the Top Tech Stocks to Buy Right Now? 3 Picks.

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  • Tech stocks today need to combine long-term opportunities with solid financials. 
  • AST SpaceMobile (ASTS): AST is set to snag part of the $1 trillion space industry.
  • Symbotic (SYM): Warehouse automation might not be exciting, but it’s increasingly in demand.
  • AeroVironment (AVAV): AVAV’s electronic warfare platform is a major step forward.
top tech stocks - What Are the Top Tech Stocks to Buy Right Now? 3 Picks.

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The top tech stocks are more just the “Magnificent Seven” list or the next big thing in artificial intelligence. Today, in a higher interest rate environment, you can’t afford to gamble on companies with limited long-term prospects or poor financials. Markets aren’t rewarding bad financial management, nor are they throwing cash at losers with limited viability.

To find the top tech stocks to buy, you’ll need to focus on two core fundamentals. First, look to stocks in a high-demand industry offering unique solutions to common problems through innovation. Second, they need the financial standing to weather whatever economic cycle we see over the next year or so.

These three tech stocks meet the mark and stand as the top tech stocks today.

AST SpaceMobile (ASTS)

Mobile global internet communications. World wide web on phone via wireless satellite network technology. Smartphone digital connection at clouds services of all earth. Holographic abstract interface. ASTS stock
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AST SpaceMobile (NASDAQ:ASTS) might be the top tech stock in the next few years. The space stock is set to capture part of a $1 trillion industry and has heavy institutional backing.

The company is developing a network of low-earth satellites to deliver broadband connectivity to remote regions. This differs from Starlink and Amazon’s (NASDAQ:AMZN) burgeoning space internet effort because it focuses solely on cell connectivity. Although cell towers are globally dispersed, key rural and remote areas are wholly without service. AST SpaceMobile seeks to close that gap.

Recently, AST partnered with AT&T (NYSE:T) to complete the first satellite-enabled 5G call from Hawaii to Spain. This test proved AST’s viability, and AT&T hopes to use the company to increase its global position and open new markets in a saturated field. AST shares are already up 40% over the past month. Still, shares are priced to buy at less than $5 each, particularly considering its status as a top tech stock to buy.

Symbotic (SYM)

Hand with pen marking holographic chart with the word "AI". Artificial Intelligence
Source: shutterstock.com/everything possible

Symbotic (NASDAQ:SYM) might not be the coolest tech stock on the market, but the artificial intelligence and automation company is quietly expanding its massive reach. SYM delivers AI solutions to warehousing, a critical sector as eCommerce explodes and companies with dispersed operations struggle to manage inventory and product movement.

Symbotic’s clients already include Walmart (NYSE:WMT) and Target (NYSE:TGT). Industry reliance on that scale alone positions Symbotic as a top tech stock. But today, the company is increasing its reach to deliver AI warehouse automation to smaller businesses.

The company’s new shared-warehouse platform compounds its utility. Warehouse infrastructure is expanding rapidly as companies pivot to an online-only fulfillment model. These trends, and Symbotic’s unique value proposition, set it apart from other tech stocks today.

The company just posted its first profitable quarter, which bodes well for its long-term financial prospects. Rapid revenue growth and improved margins, alongside its new addressable market reach, position Symbotic as a future leader in the tech industry.

AeroVironment (AVAV)

The logo for AeroVironment (AVAV) is seen through a magnifying glass on the company's website.
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AeroVironment (NASDAQ:AVAV) is a lesser-known tech stock. That’s mostly because it’s also a defense stock and goes unnoticed in the bigger defense sector. The company offers a range of unmanned drones for military applications, but its unique tech focus makes it different from larger defense players.

Recently, the company unveiled a massive new unmanned aircraft, the JUMP 20 Group 3, and deployed the platform during a training exercise. The aircraft is unique because it doesn’t focus solely on surveillance or offensive weapons capabilities. Instead, it’s an electronic warfare platform that denies enemy communications capabilities. These tech-heavy platforms aren’t usually unmanned but are a critical part of today’s battlefield capabilities. Unmanned electronic warfare is a huge step forward for the defense industry and AeroVironment and one that could turn this tech stock into a huge player moving forward.

The company is leaning into its tech stock position by preparing to buy Tomahawk Robotics. The $120 million acquisition represents streamlined operations because Tomahawk already supplies core hardware capabilities within AVAV’s drone fleet. AVAV’s financial position is enough to pay the steep price tag, a bullish indicator, while the buyout will improve AVAV’s margins over time.

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy’s work can also be found at www.jeremyflint.work.


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