3 Growth Tech Stocks To Buy Now For 2021 And Hold

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The S&P 500 and the Nasdaq both hit fresh records on Thursday, as stocks continue their rally to start December. The gains come after the Dow climbed 12% in November for its best month since 1987. And Wall Street is finally casting a wider net outside of the pandemic high-flyers like Zoom Video (ZM Quick Quote ZM - Free Report), Target (TGT Quick Quote TGT - Free Report), and other companies that benefitted from the social distancing push.

The positive news on the vaccine front was clearly the catalyst for November’s wide-spread rally that saw over 450 stocks in the S&P 500 climb. This marked the largest share for any month since April, according to the Wall Street Journal, and crushed October’s 212 figure and September’s 153.

Investors are projecting that the hard-hit areas such as energy and travel will be able to bounce back in 2021 if a vaccine is rolled out. Meanwhile, the earnings outlook continues to improve for the fourth quarter and beyond and the U.S. economy remains in comeback mode.

In the background of all of this is the Fed, which plans to keep its interest rate near zero through at least 2023. This should provide a boost to stocks as investors hunt for returns in a yield-starved market. Clearly, the bullish case for 2021 is not that hard to make.

With this in mind, let’s dive into three growth-focused tech stocks to consider buying that aren’t banking on a vaccine in a major way…

The Trade Desk (TTD Quick Quote TTD - Free Report)

The Trade Desk is an algorithmic, real-time bidding advertising firm that’s ready to benefit from the continued shift to digital ad spending. TTD enables its clients to reach consumers on titans like Google (GOOGL Quick Quote GOOGL - Free Report) and Facebook (FB Quick Quote FB - Free Report). But that is pretty straightforward these days, and let’s not forget that both are under heavy government scrutiny.

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