Technology Is Your Future: Tech Stocks to Consider This Year
There is no secret that your entire life is impacted by technology. From the foods you eat to the clothes you wear, the automobiles you drive and the job you do day in and day out, technology plays a huge part in how you survive in a world where technology reigns supreme. For this reason, many market financial planners are looking at which stocks have the biggest potential for growth and when it comes to technology, those stocks are always high on the list. Here are some stocks that are forecast to do well in the coming 12 months.
Mobile Payments – PayPal in the Lead
When it comes to mobile payments, this is one busy industry. Since more consumers shop online than they do in brick and mortar stores, taking mobile payments is a must. Why? Because as Google found out, of those people who shop online, more shop from a mobile device than they do from a desktop. Taking mobile payments is an absolute must and in this field, PayPal has it all over the competition. On the NASDAQ PayPal is traded as PYPL.
Automotive Technology – Mobileye
All the buzz seems to be about self-driving autonomous cars and it seems as though that’s all anyone is talking about these days. One research company, Boston Consulting, predicts that this type of technology will reach profits of $42 billion annually within the coming 5 to 10 years. More if autonomous technology is perfected. Mobileye is an industry that is working to perfect collision-avoidance technology and is high on the list of those automotive technology stocks that are forecast to do well. Mobileye is traded as MBLY on the NASDAQ.
Medical Technology – INSYS Therapeutics
While INSYS Therapeutics is known for their innovative medicines developed that are considered on the fringe of FDA approved products, the one thing that INSYS does is also develop delivery systems. According to Forbes, INSYS would be a great stock to invest in now before medical and recreational marijuana go legal because at the current time there will most likely be as many as 2/3 the states legalizing it in some way by November as a result of the general elections with 8 states having cannabis on the ballots.
However, if you are looking for marijuana stocks that play even more heavily into technology that INSYS, you may want to look at cannabis technology for extraction purposes on the OTC market. NASDAQ gives you INSYS Therapeutics but the OTC market has infinitely more prospects, yes some risky, but if Forbes is correct, this is the technology to follow because it will literally explode after November. Forbes is predicting a nationwide legalization by the year 2020.
In the end, technology is the way of the future and unless you buy into some fly-by-night company that has no staying power, you just can’t go wrong. From medical technology to automotive technology, these stocks are all set to soar.