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5 TOP Tech Stocks to Buy for the Remainder of 2020

5 TOP Tech Stocks to Buy for the Remainder of 2020

Posted On October 8, 2020 7:19 pm
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The quest for elite tech stocks is never-ending. It seems as though a new tech stock with massive potential pops up at least once each week. But not all tech stocks are long term winners.

Do not invest your limited time sorting through the plethora of tech stocks attempting to pinpoint winners. Instead, let me do the work for you. After doing my research, I have found stocks that I believe should perform well for the rest of the year due to several factors.

Let’s take a look at five of the best tech stocks to load up on for the final quarter of the year: Square (SQ), STMicroelectronics (STM), The Trade Desk (TTD), Black Knight (BKI), and Entegris (ENTG).

Square (SQ)

SQ makes it easy for businesses to sell products and services online. The company also facilitates the transmission of money directly to individuals through its Cash App service. SQ is now expanding its horizons into banking. It is quite possible SQ will one day supplant PayPal (PYPL) as the top online payment processor. Additional SQ offerings include Square Analytics, Square Register, and Square Appointments.

SQ is rated a “Strong Buy” by our POWR Ratings system and has a grade of “A” in all the components that make up the POWR Ratings. It is also the #2 ranked stock out of 206 publicly traded companies in the Financial Services (Enterprise) industry. SQ is trading around hits all-time high now that Susquehanna reiterated its “Buy” rating on the stock. Susquehanna analyst Jamie Friedman thinks SQ will reach $195.

The reduction in debit card usage should help SQ as the pandemic plays out. SQ gross profit from Cash App is up 174% on a quarterly basis. 

STMicroelectronics (STM)

When it comes to tech stocks, you can’t go wrong with semiconductors. STM has emerged as one of the more attractive semiconductors. The company designs and markets numerous semiconductor integrated circuits. STM products are used in computers, telecom systems, consumer products, industrial automation, and automotive products.

STM has impeccable POWR Rating components with “A” grades in each category. STM is ranked in the top five out of 86 publicly traded companies in the Semiconductor & Wireless Chip industry. Analysts are bullish on the stock, setting a price target of $36.50, which could mean a possible 10% upside.

STM has gradually worked its way back up back to its pre-COVID trading price of $32. As the largest chipmaker in Europe, STM won’t have any trouble surviving the coronavirus pandemic. Analysts anticipate demand for STM chips will spike next year across several industries thanks to the arrival of next-generation smartphones and low-emission vehicles.

The Trade Desk (TTD)

Tech platforms for marketing are gradually drawing in market share from traditional advertising mediums. TTD’s cloud platform empowers advertisement buyers to make and manage digital ads. 

TTD ads are displayed on all sorts of devices and mediums, ranging from connected TVs to computers, mobile devices, and more. TTD has “A” grades in…

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