The Nasdaq, home to many of the biggest tech companies in America, hit the 6,000 mark for the first time ever on Tuesday.
As the tech industry continues to grow, as do tech stocks propensity for making money. Here are five tech stocks looking strong for 2017.
Facebook (NASDAQ:FB)
Despite being one of the biggest players in the tech field already, Facebook’s sales soared a further 59 percent in the final quarter of 2016. Its Generally Accepted Accounting Principles profits rose 166 percent to $2.5 billion, with Facebook sales expected to grow a further 50 percent this year and 34 percent next year.
Its user base continues to grow, with 1.8 billion monthly active users and 84 percent of all advertising revenue coming from mobile at the end of 2016.
The Facebook stock is currently trading up 0.70 percent at 146.49 (1136GMT).
Electronic Arts (NASDAQ:EA)
As the popularity of video games continues to rise in the age of Virtual Reality, Electronic Arts – or EA – is one of the industry’s biggest players. EA’s intellectual property includes FIFA, Madden NFL, Star Wars, Battlefield, the Sims, and Need for Speed. As a company, it is a well aware of the need to push into digital gaming, where margins are higher and subscription opportunities abound.
“Although we are market perform-rated, we do think EA is a well-run, well-positioned company in a fundamentally strong industry, and expect the company to deliver average EPS growth in the low/mid-double digit range over the next five years,” Cowen analyst Doug Creutz said in a report.
“Our rating simply reflects the fact that in the intermediate term, with a tough slate comp and FX headwinds, we think fiscal 2018 will be a slower-than-average growth year, without identifiable catalysts to generate investor excitement.”
EA stock is currently trading up 0.19 percent at 92.99 (1137GMT).
MercadoLibre (NASDAQ:MELI)
South America’s eBay equivalent, MercadoLibre, has seen impressive growth over the past five years. The group operates largely in Brazil, which is characterized by economic turmoil, currency fluctuations, growing competition, and challenging logistics, but represents a key market in terms on consumer growth.
MercadoLibre overcame challenges in the region to grow its Brazilian revenue 57 percent and total revenue 30 percent in 2016.
MercadoLibre stock is currently trading up 2.09 percent at 230.63 (1138GMT).
Twilio (NYSE:TWLO)
A less certain stock than many other listed here, clou-based company Twilio has delivered impressive revenue growth – but so far, with non-existent profits.
Twilio’s cloud platform handles voice calls, SMS messages, videos, security, and other features for app developers, to which developers subscribe. Major customers include Facebook with both Messenger and Whatsapp, Uber and Airbnb.
Demand for Twilio’s services have increased heavily of late, with revenue rising 60 percent annually to $82 million last year as active customer accounts rose 44 percent to 36,606. The company expects its revenue to grow another 31 percent -34 percent this year.
Twilio’s stock is currently trading up 3.23 percent at 31.93 (1139GMT).
ServiceNow (NYSE:NOW)
IT customer service company ServiceNOW specialises in help desk services within the IT industry. Revenues were boosted from $244 million to more than $1.8 billion between 2012 and 2016, and ServiceNow how has 735 customers from the Forbes Global 2000, and an average spend of about $1 million per year.
ServiceNow is currently trading up 0.92 percent at 90.24 (1139GMT).
