5 Best Tech Stocks to Buy for Q4 2024
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On this page, we pick the top five tech stocks and discuss the most important information about each one. Our experts have analysed the stock market to come up with these selections, so keep reading to find the best stocks in the tech sector to buy now.
What are the top tech stocks to buy?
Copy link to sectionThese are the best technology stocks to invest in. You can use the links in the table to find their most up to date share price, or read on to get a summary of why we’ve chosen each one.
| # | Stock symbol | Company name | Learn more |
|---|---|---|---|
| 1 | NFLX | Netflix | Learn more > |
| 2 | GOOGL | Alphabet Inc. | Learn more > |
| 3 | CRWD | CrowdStrike | Learn more > |
| 4 | BKNG | Booking Holdings | Learn more > |
| 5 | TSM | Taiwan Semiconductor Manufacturing Company | Learn more > |
1. Netflix (NASDAQ: NFLX)
Copy link to section- Market cap: $279 billion
- Dividend yield: N/A
- 5-year return: 90%
- Country: USA
Netflix is one of the most popular brands in the media industry. The company disrupted the movie streaming industry, a move that has seen its business add over 250 million customers globally.
Netflix has also managed to beat competitors like Paramount Global, Warner Bros. Discovery, and Disney. As a result, its revenue has jumped from over $20.1 billion in 2019 to over $33.7 billion in 2023. Unlike in the past, the firm’s net profit has soared from over $1.86 billion in 2019 to over $5.4 billion.
There are a few reasons why Netflix is a good tech company to invest in. First, it has a commanding market share in the streaming industry. Second, its business has become highly profitable. Additionally, it has low churn and has successfully beaten competition from leading media companies. It has also reduced account sharing.
All these factors have made it one of the best-performing companies this year. It has jumped by over 31% this year and by almost 1,000% in the past decade.
2. Alphabet Inc. (NASDAQ: GOOGL)
Copy link to section- Market cap: $2.19 trillion
- Dividend yield: 0.11%
- 5-year return: 238%
- Country: USA
Alphabet is a leading technology company that owns well-known brands like YouTube, Google, Android, and Google Cloud. In the past two decades, it has evolved into the most important player in the advertising industry globally.
Alphabet is also a major player in the cloud computing industry, where it commands the 4th-biggest market share. Its Android operating system is the biggest one in the mobile industry. Android makes most of its money from the App Store.
Alphabet’s business has continued growing, leading its revenue to move from $161 billion in 2019 to over $307 billion. Its net profit has jumped to over $73 billion. Also, the company has a fortress balance sheet with over $100 billion in cash and short-term investments. Most recently, it has started paying dividends.
Alphabet is a good investment because of its strong market share, solid balance sheet, high profit margins, and its diversified business model.
3. CrowdStrike (NASDAQ: CRWD)
Copy link to section- Market cap: $82 billion
- Dividend yield: N/A
- 5-year return: 919%
- Country: USA
Cybersecurity has become an important area globally, with companies losing billions of dollars to criminals each year. As a result, the number of companies dealing with these issues has continued growing in the past few years.
CrowdStrike is one of the leading players in the industry. Its platform provides cloud-based solutions to protect customers from most types of threats. According to Gartner, CrowdStrike is the leader in endpoint protection while Forrester has named it a leader in cloud workload security.
CrowdStrike’s business has been growing rapidly in the past few years. Its revenue soared from over $481 million in 2020 to over $3 billion in 2024. It has also broken even, moving from a net loss of $141 million in 2020 to a profit of $90.6 million. The management hopes to become more profitable as the company slows its growth investments.
The main issues with CrowdStrike are that its growth is starting to slow while its stock is highly overvalued, meaning that the management must execute well.
4. Booking Holdings (NASDAQ: BKNG)
Copy link to section- Market cap: $129 billion
- Dividend yield: 0.23%
- 5-year return: 116%
- Country: USA
The hotel and tourism industry is booming, with millions of people traveling. This trend is benefiting companies like Booking Holdings, which provide services in the sector. Booking owns well-known brands like Priceline, Agoda, and KAYAK.
The company’s business has been growing in the past few years. After its revenue tumbled to $6.7 billion in 2020 during the Covid-19 pandemic, it rebounded to over $21.3 billion in 2023. Even in its worst year, Booking Holding still managed to make a $59 million profit, which then jumped to more than $4.2 billion in 2023.
Booking Holdings is a good technology stock to buy because of its market share in the travel industry and its strong profit margins. It usually generates gross profit margins of over 84% and net income margins of over 25%. The company also has a strong balance sheet and is in an industry with a large total addressable market.
5. Taiwan Semiconductor Manufacturing Company (NYSE: TSM)
Copy link to section- Market cap: $717 billion
- Dividend yield: 1.19%
- 5-year return: 320%
- Country: Taiwan
The Taiwan Semiconductor Manufacturing Company, better known as TSMC, is the world’s leading manufacturer of semiconductors – computer chips that play a vital role in everything from mobile phones to cars.
Over the last few years TSMC has overtaken its major US rival, Intel, at the top of the semiconductor tree. It manufactures some of the most advanced chips in the world and it’s become a major part of the world economy as electronics has taken centre stage. Based in Taiwan, it’s in the middle of geopolitical toing and froing between the US and China.
TSMC has been growing in the past few years. Its revenue soared from over $35.7 billion in 2019 to over $70.4 billion in 2023. It has also become one of the most profitable companies in the industry. The company’s net profit jumped from more than $11.8 billion in 2019 to over $27 billion in 2023.
The benefit of investing in TSMC is that it has a large market share in the fabrication industry. It is so influential that the company has no major competitor. Therefore, with chips demand rising, the company will likely continue doing well in the coming years.
Where to buy the best tech shares
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What is a tech stock?
Copy link to sectionAny company that operates in the technology sector, which might mean developing new computer software or manufacturing the hardware that powers our phones. Tech stocks are often some of the most well-known companies around and offer up some of the biggest gains if you invest at the right time.
Are tech shares a good investment?
Copy link to sectionThey are if you’re the sort of investor who’s happy to take a risk or to pay up for the top stocks on the market. Tech stocks are often priced quite high relative to how much profit they make, because they trade on future potential rather than their current numbers.
The reward for that extra risk is the potential for a big payoff, as tech stocks can grow much faster than companies in other sectors. Technology is only going to keep advancing, so owning some tech shares in your portfolio is a good idea, just be sure to balance them out with steadier stocks as well.
As with every industry, it’s important to track the latest news so you know about any new developments. In tech, that’s especially vital because releasing new technology can have a big impact on a company’s price. Use our news and analysis below to help you stay on top of what’s new.
Methodology: How we choose the best tech stocks
Copy link to sectionAt Invezz, our mission is to empower our readers with the most accurate and reliable financial information. Our curated selection of the best stocks in specific industries is designed to provide investors with well-researched, expertly reviewed stock recommendations. Our team follows a rigorous process to ensure our readers receive high-quality, trustworthy stock selections.
- Initial screening. Our team of experienced stock market analysts conducts an initial screening of stocks within the chosen industry. This involves analyzing a broad range of companies based on key financial metrics such as revenue growth, profitability, debt levels, and market capitalization.
- Earnings reports and financial analysis. Analysts review the latest earnings reports of shortlisted companies. This includes a detailed assessment of financial statements, looking for consistent earnings growth, strong balance sheets, and positive cash flow trends. Special attention is given to year-over-year performance and quarterly results.
- Sector analysis. A comprehensive sector analysis is conducted to understand the macroeconomic factors affecting the industry. This includes examining market trends, competitive landscape, regulatory changes, and technological advancements. Our analysts utilize industry reports, market research, and economic forecasts to gain a holistic view of the sector.
- Analyst recommendations. We consider recommendations from reputable sources such as Barron’s and Zacks. These sources provide expert opinions and ratings on stocks, which serve as an additional layer of validation for our selections. Incorporating external analyst recommendations ensures that our curated stocks are backed by a consensus of expert views.
- Internal review. After the initial selection by our analysts, the chosen stocks are reviewed by a sub-editor. The sub-editor ensures that the analysis is clear, concise, and adheres to Invezz’s editorial guidelines. This review process helps maintain the quality and readability of our content, making it accessible to a broad audience.
- Quarterly updates. To ensure our stock recommendations remain relevant and up-to-date, we update the curated section quarterly. Each update cycle involves re-evaluating the stocks based on the latest financial reports, industry developments, and market conditions. This regular update process ensures that our recommendations reflect the most current information available.
Our approach combines expert analysis, comprehensive research, and regular updates to deliver reliable and insightful investment recommendations. Read more about our review process and editorial policy.
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