After more than a profitable run in the market during the period of spiking tech stocks back in 2017, these prominent stocks have seen a downfall in form of a batter of negative trends that arrived with the mere beginning of 2018.
The previous profitable run of tech stocks was led by Alphabet (GOOGL), Amazon (AMZN), Facebook (FB), Apple (APPL) and Netflix (NFLX), while the tech sector was down for a major fall with the beginning of October 2018.
Besides from Facebook’s infamous data sales scandal that most probably caused a major loss of -15% during 2018, the entire sector was affected by a case of unfavorable levels of volatility. However, this case might only mean that tech stocks can be bought as a bargain, as technology will always be in demand, especially with accelerated development of new transformational technologies.
Top Profitable Tech Stocks to Consider Owning in 2019
Nvidia (NVDA) surprised most of investors by gaining nearly 800% in the period between 2016 and October 2018 when the tech market started to experience negative trends, when Nvidia’s gains by far were almost halved.
Nvidia’s profits might have gone down with the fall of the cryptocurrency market as the company was selling mining equipment, however, the company’s major focus is set on video games, which includes AI applications, still making it a favorable tech stock.
Workday (WDAY) on the other hand is not a famous name unlike tech giants like Google’s Alphabet, however, Wall Street watchers are predicting 25% of fiscal growth for 2019, having the company already reporting 30% of increase in sales for the past year, predicting increases in sales for 2019.
Investors who are willing to stick with tech giants such as Microsoft, can rely on the rising popularity of cloud-based software and services as Azure is preparing to take over the well-established large userbase and Microsoft users who are willing to take a switch to cloud-based Office software that is said to take over 2019.