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Top Stocks To Buy Now? 3 Tech Stocks For Your Watchlist

Could these tech stocks be top picks at this point in the current earnings season?
The post Top Stocks To Buy Now? 3 Tech Stocks For Your Watchlist appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Are These Top Tech Stocks Worth Watching Now?

While 2022 may not be the best year for tech stocks so far, tech companies across the board continue to perform this earnings season. As such, investors may not want to dismiss this part of the stock market just yet. After all, as we often say here at StockMarket.com, the world of tech is ever-evolving. By extension, this would be in line with the industry’s focus on growth and innovation. Sure, growth stocks may not necessarily be the most attractive short-term plays at the moment. This would especially be the case with the Federal Reserve set to raise interest rates later this year. However, the past week in tech earnings could serve to convince investors to eye long-term gains.

Namely, we could look at the likes of Mastercard (NYSE: MA) and IBM (NYSE: IBM). To begin with, Mastercard reported an earnings per share (EPS) of $2.35 on revenue of $5.22 billion. This tops consensus estimates of $2.21 and $5.17 billion respectively. In detail, Mastercard cites steady rebounds in consumer spending for this performance with cross-border spending rising above pre-pandemic levels. Likewise, IBM also handily beat consensus estimates with an EPS of $3.35 on revenue of $16.70 billion. These are but two instances of the tech industry’s current operational momentum. With that said, could one of these tech stocks be your next big investment?

Tech Stocks To Watch Ahead Of February 2022

Apple

When it comes to consumer tech, few, if any businesses, can compare to Apple today. Through its industry-leading portfolio of tech offerings, the company continues to dominate the tech scene. From the latest iPhones to its MacBooks and iMacs, Apple brings cutting-edge features to consumers across the globe. At the same time, the company also provides a comprehensive suite of software solutions that complement its offerings. All of which works in tandem to form a holistic tech ecosystem providing Apple users with ease-of-use, interconnectivity, and convenience. As such, I could understand if AAPL stock is on investors’ watchlists.

Supporting all of this is the company’s latest quarterly earnings figures. Diving in, Apple posted a record revenue of $123.9 billion for its December quarter. For comparison, this is well above analyst estimates of $118.66 billion. Additionally, the company also recorded an EPS of $2.10, exceeding forecasts of $1.89. In terms of year-over-year change, this adds up to a sizable 25% increase. Not to mention, Apple’s iPhone revenue is also sitting above estimates by over $3 billion, totaling $71.63 billion for the quarter.

Speaking of specific product segments, the company saw mostly green across the board in terms of year-over-year product revenue growth. Except for its iPads, the company beat Wall Street estimates across all its core product categories. All in all, the company appears to be firing on all cylinders exiting the holiday season. According to CEO Tim Cook, the company could maintain its current momentum in moving forward as well. Cook said that Apple is expecting “solid year-over-year revenue growth,” and for supply chain constraints to lighten in the current quarter. With such strong fundamentals, would you consider AAPL stock a top watch?

AAPL stock chart
Source: TD Ameritrade TOS

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Autodesk

Following that, we will be taking a look at Autodesk. Generally, the company’s tech focuses on creating comprehensive structures in digital spaces. In particular, Autodesk caters to the architecture, engineering, construction, media and entertainment, and manufacturing-focused industries among others. For companies looking to create infrastructure in the metaverse, Autodesk would be an option to consider. While ADSK stock has been under pressure over the past month, investors looking to jump on the current weakness in tech stocks may be interested.

Meanwhile, Autodesk is also hard at work growing its operations as well. Notably, the company made an acquisition earlier this month. Namely, Autodesk acquired Moxion, a New Zealand-based developer of a powerful, cloud-based platform used by filmmakers. Through Moxion, film industry professionals can collaborate and review camera footage on-set or remotely efficiently. In turn, they can make creative decisions immediately during the principal photography stage with high-quality image quality. To point out, Moxion was used in the making of the blockbuster film The Matrix Resurrections.

Safe to say, this buy would significantly expand Autodesk’s Media and Entertainment division. According to Autodesk, it would push its portfolio beyond post-production into the production process of filmmaking. Commenting on all this is Autodesk SVP of Media and Entertainment, Diana Colella. She noted, “As the content demand continues to boom with pressure on creators to do more for less, this acquisition helps us facilitate broader collaboration and communication, and drive greater efficiencies in the production process, saving time and money.” With all this in mind, will you be adding ADSK stock to your tech stock watchlist?

ADSK stock chart
Source: TD Ameritrade TOS

[Read More] 4 Artificial Intelligence Stocks To Watch Right Now

Microsoft

Another name to consider among the top tech stocks now would be the Microsoft Corporation. Most would be familiar with the company’s gargantuan array of tech offerings and solutions. Whether it is productivity software, gaming, or cloud computing among other cutting-edge tech fields, Microsoft often brings its A-game. Accordingly, this seems to ring true from the company’s latest quarterly earnings figures.

In its latest earnings report, Microsoft posted solid numbers all around. For starters, the company posted an EPS of $2.48 on revenue of $51.73 billion for the quarter. To highlight, this handily beats Wall Street forecasts of $2.31 and $50.88 billion respectively. More importantly, Microsoft Azure, the company’s cloud computing division, appears to be going from strength to strength. This is apparent as Azure’s quarterly revenue surged by a commendable 46% year-over-year. Overall, Microsoft continues to cater to surging demand for cloud-related services.

Not forgetting, the company also made massive waves in the gaming industry earlier this month. This would be due to its massive ongoing acquisition of Activision Blizzard (NASDAQ: ATVI). Through the $68.7 billion all-cash deal, Microsoft will become the third-largest gaming company by revenue worldwide. By acquiring Activision, Microsoft will gain access to the legendary Call of Duty gaming series among other notable IPs. With the company seemingly kicking into high gear now, could MSFT stock be a viable long-term play in your books?

MSFT stock chart
Source: TD Ameritrade TOS

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The post Top Stocks To Buy Now? 3 Tech Stocks For Your Watchlist appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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International

United Airlines adds new flights to faraway destinations

The airline said that it has been working hard to "find hidden gem destinations."

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Since countries started opening up after the pandemic in 2021 and 2022, airlines have been seeing demand soar not just for major global cities and popular routes but also for farther-away destinations.

Numerous reports, including a recent TripAdvisor survey of trending destinations, showed that there has been a rise in U.S. traveler interest in Asian countries such as Japan, South Korea and Vietnam as well as growing tourism traction in off-the-beaten-path European countries such as Slovenia, Estonia and Montenegro.

Related: 'No more flying for you': Travel agency sounds alarm over risk of 'carbon passports'

As a result, airlines have been looking at their networks to include more faraway destinations as well as smaller cities that are growing increasingly popular with tourists and may not be served by their competitors.

The Philippines has been popular among tourists in recent years.

Shutterstock

United brings back more routes, says it is committed to 'finding hidden gems'

This week, United Airlines  (UAL)  announced that it will be launching a new route from Newark Liberty International Airport (EWR) to Morocco's Marrakesh. While it is only the country's fourth-largest city, Marrakesh is a particularly popular place for tourists to seek out the sights and experiences that many associate with the country — colorful souks, gardens with ornate architecture and mosques from the Moorish period.

More Travel:

"We have consistently been ahead of the curve in finding hidden gem destinations for our customers to explore and remain committed to providing the most unique slate of travel options for their adventures abroad," United's SVP of Global Network Planning Patrick Quayle, said in a press statement.

The new route will launch on Oct. 24 and take place three times a week on a Boeing 767-300ER  (BA)  plane that is equipped with 46 Polaris business class and 22 Premium Plus seats. The plane choice was a way to reach a luxury customer customer looking to start their holiday in Marrakesh in the plane.

Along with the new Morocco route, United is also launching a flight between Houston (IAH) and Colombia's Medellín on Oct. 27 as well as a route between Tokyo and Cebu in the Philippines on July 31 — the latter is known as a "fifth freedom" flight in which the airline flies to the larger hub from the mainland U.S. and then goes on to smaller Asian city popular with tourists after some travelers get off (and others get on) in Tokyo.

United's network expansion includes new 'fifth freedom' flight

In the fall of 2023, United became the first U.S. airline to fly to the Philippines with a new Manila-San Francisco flight. It has expanded its service to Asia from different U.S. cities earlier last year. Cebu has been on its radar amid growing tourist interest in the region known for marine parks, rainforests and Spanish-style architecture.

With the summer coming up, United also announced that it plans to run its current flights to Hong Kong, Seoul, and Portugal's Porto more frequently at different points of the week and reach four weekly flights between Los Angeles and Shanghai by August 29.

"This is your normal, exciting network planning team back in action," Quayle told travel website The Points Guy of the airline's plans for the new routes.

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International

Walmart launches clever answer to Target’s new membership program

The retail superstore is adding a new feature to its Walmart+ plan — and customers will be happy.

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It's just been a few days since Target  (TGT)  launched its new Target Circle 360 paid membership plan. 

The plan offers free and fast shipping on many products to customers, initially for $49 a year and then $99 after the initial promotional signup period. It promises to be a success, since many Target customers are loyal to the brand and will go out of their way to shop at one instead of at its two larger peers, Walmart and Amazon.

Related: Walmart makes a major price cut that will delight customers

And stop us if this sounds familiar: Target will rely on its more than 2,000 stores to act as fulfillment hubs. 

This model is a proven winner; Walmart also uses its more than 4,600 stores as fulfillment and shipping locations to get orders to customers as soon as possible.

Sometimes, this means shipping goods from the nearest warehouse. But if a desired product is in-store and closer to a customer, it reduces miles on the road and delivery time. It's a kind of logistical magic that makes any efficiency lover's (or retail nerd's) heart go pitter patter. 

Walmart rolls out answer to Target's new membership tier

Walmart has certainly had more time than Target to develop and work out the kinks in Walmart+. It first launched the paid membership in 2020 during the height of the pandemic, when many shoppers sheltered at home but still required many staples they might ordinarily pick up at a Walmart, like cleaning supplies, personal-care products, pantry goods and, of course, toilet paper. 

It also undercut Amazon  (AMZN)  Prime, which costs customers $139 a year for free and fast shipping (plus several other benefits including access to its streaming service, Amazon Prime Video). 

Walmart+ costs $98 a year, which also gets you free and speedy delivery, plus access to a Paramount+ streaming subscription, fuel savings, and more. 

An employee at a Merida, Mexico, Walmart. (Photo by Jeffrey Greenberg/Universal Images Group via Getty Images)

Jeff Greenberg/Getty Images

If that's not enough to tempt you, however, Walmart+ just added a new benefit to its membership program, ostensibly to compete directly with something Target now has: ultrafast delivery. 

Target Circle 360 particularly attracts customers with free same-day delivery for select orders over $35 and as little as one-hour delivery on select items. Target executes this through its Shipt subsidiary.

We've seen this lightning-fast delivery speed only in snippets from Amazon, the king of delivery efficiency. Who better to take on Target, though, than Walmart, which is using a similar store-as-fulfillment-center model? 

"Walmart is stepping up to save our customers even more time with our latest delivery offering: Express On-Demand Early Morning Delivery," Walmart said in a statement, just a day after Target Circle 360 launched. "Starting at 6 a.m., earlier than ever before, customers can enjoy the convenience of On-Demand delivery."

Walmart  (WMT)  clearly sees consumers' desire for near-instant delivery, which obviously saves time and trips to the store. Rather than waiting a day for your order to show up, it might be on your doorstep when you wake up. 

Consumers also tend to spend more money when they shop online, and they remain stickier as paying annual members. So, to a growing number of retail giants, almost instant gratification like this seems like something worth striving for.

Related: Veteran fund manager picks favorite stocks for 2024

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Comments on February Employment Report

The headline jobs number in the February employment report was above expectations; however, December and January payrolls were revised down by 167,000 combined.   The participation rate was unchanged, the employment population ratio decreased, and the …

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The headline jobs number in the February employment report was above expectations; however, December and January payrolls were revised down by 167,000 combined.   The participation rate was unchanged, the employment population ratio decreased, and the unemployment rate was increased to 3.9%.

Leisure and hospitality gained 58 thousand jobs in February.  At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 17 thousand jobs since February 2020.  So, leisure and hospitality has now essentially added back all of the jobs lost in March and April 2020. 

Construction employment increased 23 thousand and is now 547 thousand above the pre-pandemic level. 

Manufacturing employment decreased 4 thousand jobs and is now 184 thousand above the pre-pandemic level.


Prime (25 to 54 Years Old) Participation

Since the overall participation rate is impacted by both cyclical (recession) and demographic (aging population, younger people staying in school) reasons, here is the employment-population ratio for the key working age group: 25 to 54 years old.

The 25 to 54 years old participation rate increased in February to 83.5% from 83.3% in January, and the 25 to 54 employment population ratio increased to 80.7% from 80.6% the previous month.

Both are above pre-pandemic levels.

Average Hourly Wages

WagesThe graph shows the nominal year-over-year change in "Average Hourly Earnings" for all private employees from the Current Employment Statistics (CES).  

There was a huge increase at the beginning of the pandemic as lower paid employees were let go, and then the pandemic related spike reversed a year later.

Wage growth has trended down after peaking at 5.9% YoY in March 2022 and was at 4.3% YoY in February.   

Part Time for Economic Reasons

Part Time WorkersFrom the BLS report:
"The number of people employed part time for economic reasons, at 4.4 million, changed little in February. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs."
The number of persons working part time for economic reasons decreased in February to 4.36 million from 4.42 million in February. This is slightly above pre-pandemic levels.

These workers are included in the alternate measure of labor underutilization (U-6) that increased to 7.3% from 7.2% in the previous month. This is down from the record high in April 2020 of 23.0% and up from the lowest level on record (seasonally adjusted) in December 2022 (6.5%). (This series started in 1994). This measure is above the 7.0% level in February 2020 (pre-pandemic).

Unemployed over 26 Weeks

Unemployed Over 26 WeeksThis graph shows the number of workers unemployed for 27 weeks or more.

According to the BLS, there are 1.203 million workers who have been unemployed for more than 26 weeks and still want a job, down from 1.277 million the previous month.

This is down from post-pandemic high of 4.174 million, and up from the recent low of 1.050 million.

This is close to pre-pandemic levels.

Job Streak

Through February 2024, the employment report indicated positive job growth for 38 consecutive months, putting the current streak in 5th place of the longest job streaks in US history (since 1939).

Headline Jobs, Top 10 Streaks
Year EndedStreak, Months
12019100
2199048
3200746
4197945
52024138
6 tie194333
6 tie198633
6 tie200033
9196729
10199525
1Currrent Streak

Summary:

The headline monthly jobs number was above consensus expectations; however, December and January payrolls were revised down by 167,000 combined.  The participation rate was unchanged, the employment population ratio decreased, and the unemployment rate was increased to 3.9%.  Another solid report.

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