In stock trading and investing, you must have realized that tech stocks are promising if they have clear plans for the future. Investors need to have the feeling that the tech company has enough innovation in store to ensure it is ready to face any innovative and revolutionary concepts its competitors could bring to the market. That boosts investor perception and raises the stock prices.
As an investor or stock trader, you may be looking to get hold of such stocks as the year comes to its final months. You want something that could give you a strong end to the year. Experienced analysts from TipRanks have zeroed in on some stocks that could have a great Q4. They used the Trending Stocks tool by TipRanks to figure out the stocks that were rated the highest in the past 7 days. They felt that three stocks among these are particularly compelling, Pioneer Natural Resources ($PXD), Alexion Pharmaceuticals ($ALXN) and Microsoft ($MSFT).
And since we are focusing on tech stocks, let's consider why analysts feel Microsoft is the most attractive of the tech stocks out there. The company seems to be particularly future-proof since it is making the right moves to give investors the idea that it is preparing well for the future.
Microsoft Has Firm Plans to Be Future-proof
Timothy Horan of Oppenheimer believes in Microsoft as a top large-cap choice, having a $127 price target, with an upside potential of 10%. At its recent Microsoft Ignite conference that focused on developers, Microsoft made a number of announcements. Among these were the unveiling of a new virtual desktop and cloud service. And there was the AI theme that dominated the entire event.
AI tools and features being embedded into almost all the new services the company is launching was the overriding theme of the Ignite event's first three days, says Horan. And that involves Office 365's AI-backed features. These features would suggest PowerPoint layouts while discovering Excel data trends. There are also new AI-backed services incorporated into Dynamics 365 that focus on customer service, sales and market insights. All these lead Horan to conclude that Microsoft is in an enviable position of being able to channel digital transformations with the AI and cloud advantage.
This is a 'Strong Buy' stock that has acquired 22 Buy ratings, 2 Hold ratings and 1 Sell rating in the past three months. Calculating the average price target from these analysts brings the figure to $121.
Use the Right Tools to Select the Right Stocks
Ending the year on a high is certainly what stock traders would love to do. With advanced trading software by TradeZero, you have the right tools to have a better understanding of the market and select the right stocks. Get in touch with us at +1 954-944-3885. You can also email us at support@tradezero.co.
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