3 Tech Stocks To Buy For The At-Home Economy And Beyond

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There is a ton of uncertainty out there heading into the election. Plus, the continued specter of the coronavirus has Wall Street focused on the possibility of increased lockdown measures in parts of Europe and the U.S.

Despite these worries and unknows, we saw solid results from Apple (AAPL - Free Report), Amazon (AMZN - Free Report), Alphabet (GOOGL - Free Report) , Facebook (FB - Free Report), Microsoft (MSFT - Free Report), and some of the other the biggest names in tech last week. The market didn’t react positively to the results, but that says more about the current conditions and is likely a sign that Wall Street was taking profits on some of these names that have soared since the March lows.

The overall third quarter earnings picture for the S&P 500 continues to improve, and the tech sector is by far the largest contributor. The bottom line outlook for Q4 has also trended in the right direction and the index is projected to return to big growth in fiscal 2021. On top of that, the broader economic and market picture is pointing to bullish signs.

With this in mind, the first of three stocks we discuss that are set to report on Thursday, November 5, is Square (SQ - Free Report. The fintech firm’s diverse portfolio has been on display during the coronavirus economy. And SQ stock has easily topped rival PayPal (PYPL - Free Report) and it hopes to become a financial services firm for the future.  

Alibaba (BABA - Free Reporthas outpaced Amazon (AMZN - Free Report) over the past six months. And like its U.S. counterpart, it’s prepared to benefit from e-commerce expansion, cloud computing, digital media, and a mobile-payment economy.

Lastly, Peloton (PTON - Free Reportstock has skyrocketed as people look for ways to workout at home. The company has also rolled out new offerings at different price points and Zacks estimates call for its revenue to surge for the next several years.

Disclaimer: Neither Zacks Investment Research, Inc. nor its Information Providers can guarantee the accuracy, completeness, timeliness, or correct sequencing of any of the Information on the Web ...

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