We’re going to do something a little different today and talk about public tech stocks – particularly which ones could be great buys during these crazy times.
This is one of the steepest sell-offs in market history, so I believe it’s imperative that we try to make the best of it.
We will come out on the other side of this mess eventually. And when we do, I hope we can say we bought something good for cheap.
Here are the tech stocks I’ve been watching for years but haven’t bought yet due to high valuations. I believe all of these companies have the potential to become the next tech giants.
Shopify (NYSE: SHOP). This company helps independent stores sell their goods online. It’s a huge, fast-growing business. Shopify makes it easy for anyone to sell their goods online. Before all of this COVID-19 stuff, Shopify was growing revenue at a very impressive 47% year-over-year rate. You can find more key statistics here.
Twilio (NYSE: TWLO). Twilio helps companies communicate with their customers through email, text messages and more. Twilio did $1.1 billion in sales over the last 12 months and grew revenue at a 62% year-over-year rate. You can find more key stats here.
Cautionary Note: While the overall stock market and these stocks have already fallen a lot, I suspect this bear market is not over yet. I don’t recommend buying anything all at once. Average into positions over time. It’s unlikely that these stocks have bottomed yet, so be prepared for them to move lower.