The US tech stock market has seen substantial gains over the last year. Some have even registered triple-digit gains in the yearly charts. The rise in tech company valuations is driven by the AI boom. Zacks Investment Ideas has highlighted three tech companies that you could consider for your portfolio. Let’s discuss which ones and why they deserve your attention.
3 US Tech Stocks To Look At
The first stock Zack has highlighted is Palantir Technologies. Palantir recently reported stellar earnings and revenue. The company revealed that its revenue surged 93% year over year, while earnings jumped 225%. CEO Alex Karp also said that the company is positioning itself as the top AI solution for corporate America and the government. Palantir stock prices could see a rapid upswing over the coming years. The report states, “Palantir increasingly looks like it is becoming a core AI layer across corporations and government, and the stock may begin to reflect this new narrative.“
The second tech stock Zack names is SpaceX (SPCX). The company had one of the largest IPO (Initial Public Offering) events in history. Founder Elon Musk’s net worth climbed to more than $1 trillion, making him the first trillion in history. While SpaceX’s stock value saw significant volatility, the asset is likely to see incredible gains in the future. The price volatility was triggered by stock unlocks, and we may see additional price fluctuations as more shares enter the market later this year. SpaceX’s AI and cloud business is expected to push to stock to new heights.
Also Read: SpaceX (SPCX): Did Elon Musk Just Give Biggest Buy Signal Yet?
The third tech stock to look at is Micron (MU). Micron is a major player in the memory chip industry, and is one of the “big three,” behind SK Hynix and Samsung. The global memory shortage has led to substantial problems for consumer electronics. However, Micron has announced a $250 billion investment plan for the US to drive up production. Micron (MU) stock is expected to continue its upswing over the coming years.
