Top Cannabis Stocks for May 2023

Companies included in MSCI’s index are screened for environmental, social and governance factors, relative to their sector competitors. And there you have 7 of the best tech stocks available on the market today who all offer fantastic growth prospects and are sitting at fairly discounted prices due to recent contributing factors. One of two FANG stocks to make this list is Alphabet Inc (GOOG). Two main reasons Alphabet made the list as a tech stock to buy in December is that it is a solid delivery stock that even in challenging times can deliver. Secondly, the stock is sitting at a relatively attractive position with its share price.

And the pullback we’ve seen in the last few months could be an opportunity for patient investors to jump in and enjoy continued dividend growth in the coming years. What’s more, Cisco just authorized another $15 billion stock buyback plan. The company also raised its quarterly dividend 2.7% to https://trading-market.org/ 38 cents per share, marking its 12th dividend hike since instituting payouts back in 2011. Tech stocks have taken a walloping in 2022, but these 10 discounted picks are poised for long-term growth. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.

Apple

Snowflake’s 12-month free cash flow broke even “a year sooner than originally forecasted” in his model, he writes in a report. Tech stocks have been slammed recently—meaning if you’re a buyer, there are suddenly some opportunities. Trouble is, these monster companies aren’t expected to give investors the exponential returns they did in earlier years. Alphabet is up 30-fold since the company’s 2004 initial public offering. Rising inflation indicates that the Federal Reserve will likely increase its federal funds rate to taper demand. In addition, other investors, seeking to benefit from the stock’s outperformance, will often purchase the stock, further bidding its price higher and pushing the stock up further.

On a YTD basis, the stock has dropped nearly 19%, a very tough pill to swallow given its meteoric rise from the doldrums of 2020. However, the company’s ubiquitous software (such as its Office suite of business-and-academia-centric programs) makes MSFT irreplaceable. Perhaps best known as the parent company of Google, Alphabet was created as part of a 2015 restructuring. Google, its crown jewel and also predecessor, was founded in 1998 in Menlo Park, Calif., as a project led by Sergey Brin and Larry Page at Stanford University. In the beginning, Google was a humble search engine, but today it and its parent company have grown to become online advertising and web services behemoths. In its fiscal fourth quarter, revenues jumped 41% year-over-year to $169 million and cloud revenues more than doubled to $68 million.

Services

These include cloud migration, security/resiliency, network/edge, applications, artificial intelligence and the digital workplace. Another advantage for tech stocks this year is that the valuations are much better. There has also been more of a focus on generating profits – which is certainly a good sign.

Overall, you’re looking at one of the best tech stocks to buy now. Its three-year free cash flow growth rate and book growth rate stand at 28.3% and 13.1%, respectively. Tech companies in the S&P 500 average a dividend yield under 2%.

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To this end, Cloudflare has created a huge network that spans over 100 countries and more than 275 cities. Analysts’ consensus ratings are courtesy of S&P Global Market Intelligence. Stocks are listed in reverse order of analysts’ consensus recommendation. Tesla (TSLA (opens in new tab), $804.58) has crossed many milestones since selling its first Roadster electric vehicle back in 2009.

The company has continued to invest aggressively in cutting-edge technologies like artificial intelligence. This is the role of Fortinet FortiGuard Labs, whose systems analyze over 100 billion events daily for real-time threat intelligence. The AI technology will help to further bolster the company’s powerful competitive advantages. However, investors seeking out the best tech stocks should not give up on Kyndryl.

But investors were not pleased with the announcement, with shares of Adobe plunging nearly 17% in reaction. This allows for fast websites and apps with enterprise-grade security. The network blocks about 70 billion threats per day (opens in new tab), such as large distributed denial of service attacks.

And after some initial struggles and the disruptions of the pandemic, it seemed like things were getting back on track in 2021. But as Wall Street started to get risk-averse in the new year, LYFT stock’s struggles resumed. However, Cisco used the already disruptive events of the pandemic to embark on another round of restructuring that included $1 billion in planned cost reductions. These included an accelerated exit from unprofitable IT markets and a revamp of the financial team that included the departure of its chief financial officer.

Despite the underwhelming performance of marijuana stocks over the past year, the sector offers risk-taking investors significant growth potential. According to industry analysis firm MJBizDaily, U.S. cannabis sales are projected to surpass $33 billion in 2023 before reaching almost $57 billion by the end of 2028. Moreover, the global cannabis market is expected to reach nearly $200 billion by 2028, up from $28 billion in 2021.

Finally, shares are trading at less than 9 times forward earnings, below the sector median of 17.3. Regulators can change the landscape for emerging technologies rapidly when things go wrong. Data breaches, revelations about data collection and other headlines spur regulators to pass new laws and regulations that can impede future tech sector growth. Alphabet, for example, manufactures devices like phone and home assistants while also offering its Google search engine and a full suite of online productivity tools. MSFT grew by leaps and bounds in its early days—often in stiff competition with Apple—and it’s continued growing in more recent years, even after the exit of its founders. In its fiscal fourth quarter, the company reported subscription revenues of 22%, or 27.5% when adjusted for constant currency.

• Analysts’ average price targets are showing a great upside for the stock with an average price target of $368 with a low price target of $310 and a high price target at $475.
• It provides protections across all surface areas, and there are over 35 main products.
• This is the role of Fortinet FortiGuard Labs, whose systems analyze over 100 billion events daily for real-time threat intelligence.
• Now investors wonder what might be in store for these high-growth shares in the new year.
• Ambarella designs semiconductor processing solutions, mainly for high-definition (HD) video capture, sharing, and display.

Exacerbating headwinds are NVDA’s perceived exposure to negative cryptocurrency trends thanks to its mining-related hardware. There is certainly a “risk-off” environment in early 2022, but there’s not a lot of risk in the assertion that Alphabet will remain the dominant venue for digital ad spend going forward. That may make this a solid choice for patient investors seeking out discounted tech stocks. That’s in part because Alphabet is humming along quite nicely, with projections of an 18% increase in its top line this fiscal year and another 15% rise in fiscal 2023. Part of this improvement is because Google’s ad network remains the go-to platform for digital marketing, and we continue to see brisk growth in this category. Consultancy firm Zenith Media has estimated that of all global ad spend, 60% of marketing budgets are dedicated to digital channels.

As the largest U.S. corporation – with a current market capitalization of roughly $2.6 trillion – it is in many ways the stock most affected by broad-market sentiment instead of its own fundamentals. Fiverr International (FVRR -0.68%) is a marketplace where freelancers can sell services, ranging from graphic design to copywriting, video editing, and more. Fiverr provides best tech stock to buy 2022 a platform and tools to facilitate transactions between buyers and freelancers, then takes a percentage of the sales as revenue. Fiverr estimates that the total addressable market is $115 billion just in the United States. These are the cannabis stocks that had the smallest declines in total return over the past 12 months among the companies we examined.

But because the financial costs of security breaches and improper access can be catastrophic, it’s possible that corporations will beef up their internal infrastructure. Wipro features excellent profitability metrics, including a return on equity of 16.9%, a return on assets of 10.6%, and a return on invested capital of 16.1%. Each of these metrics ranks better than more than 80% of the competition. NVIDIA was founded in 1993 to produce graphic cards for the burgeoning personal computer market. Almost 30 years on, the company remains an integrated circuit maker, producing chips that support everything from computers to phones and game consoles.

• We included short and core fixed-income funds along with U.S. and international ESG equity funds.
• Wall Street points out that 5G networks, cloud computing, and consumer electronics offer further growth opportunities.
• Effective duration shows the expected price decline of a bond or bond fund when interest rates rise by 1%.
• ASML is a Netherlands-based company that designs and manufactures the machinery used by companies that make microchips.
• Additionally, the company enjoys strong profit margins, solid revenue growth and decent stability in the balance sheet.
• Some tech stocks will benefit more from developing tech – like the metaverse – than others.

Tingo Group Inc., Aehr Test Systems, and Super Micro Computer Inc. are among the top-performing tech stocks this month, each providing investors with returns in excess of 150% in the past year. Shares are trading at 37.5 forward earnings and 15 times trailing sales. A potential decline toward $80 or even below would increase the margin of safety. However, UBER is now priced very attractively, reaching down to levels not seen since the initial impact of Covid-19. That alone doesn’t make it one of the best tech stocks to buy, to be fair. Still, ride-sharing volume was steadily increasing before the pandemic.

Semiconductors, the brains of modern electronics, are in short supply lately. GlobalFoundries (GFS), once privately owned by Abu Dhabi’s sovereign-wealth fund (still the majority stockholder), was one of the most popular IPOs of 2021. Over 30 days following its October market debut, the shares shot up almost 50%. While the price has ebbed along with those of other tech equities, GlobalFoundries didn’t sink as much as most, and its current price rests at a comfortable 23% above its IPO level. Earnings widely topped expectations by 47% at $0.31 per share compared to EPS estimates of $0.21. This was also a 47% increase from the prior year quarter with Q earnings at $0.21 per share.

The company currently represents more than 6% of the S&P 500 by weight, meaning that just about any index fund  you invest in will own shares in this tech giant. In the third quarter, Okta’s revenues shot up by 37% over the year prior, and free cash flow, or the money left over after a company has met its financial obligations, came to $6 million. The company added 650 new customers for a total of over 17,000, up 22% on a year-over-year basis. Consider that Figma’s addressable market opportunity is $16.5 billion by 2025. The company is also growing quickly, with an estimated $200 million in new ARR (annual recurring revenue) for 2022 – for a total of $400 million. The gross margins are at a juicy 90% and there are positive operating cash flows.

Unfortunately, rising interest rates mean that many fixed-income investments have suffered price declines. A 1% rise in interest rates would typically cause a 6.07% drop in the price of the fund—recall that bond prices move inversely to changes in interest rates. Analysts expect prices to stabilize once interest rate increases stop.

Of the best tech stocks to buy for 2022, none had more momentum in 2021 than Asana, the $14 billion workspace collaboration software company whose shares advanced more than 150% in the calendar year. Although not yet profitable, Asana has fantastic gross margins of 90.7% and improved its operating margins from a 105.1% loss in the year-ago quarter to a 67.9% loss in the most recent one. Founder-led, Asana’s CEO is Dustin Moskovitz, who is also a Facebook co-founder.

Okta (OKTA (opens in new tab), $76.34) was among the red-hot growth stocks of the past few years. The shares would hit a peak of about $300 a share in February 2021. It’s true that Kyndryl’s overall business has struggled, but management has been aggressive in transforming the company. The cloud hyperscaler business is tracking for $1 billion in annual revenues. The company has also been reducing its costs and forgoing low-margin business. This is proof that Tesla continues to offer unrivaled growth as it eats into the market share of old school automakers.

Companies pay relatively high dividends, which can offset share price declines. This passively managed fund selects high-dividend U.S. stocks, which have been screened for specific environmental, social and governance ESG criteria. Its top holdings include blue-chip stocks like Pfizer (PFE), Pepsico (PEP), Coca-Cola (KO), Merck (MRK), Home Depot (HD) and Cisco (CSCO). If you want a fund positioned to deliver above-average income yield with ESG investing, consider NUDV. EMNT’s holdings average an effective duration of just short of six months. That’s roughly 50% less than the fund’s Morningstar category average.

What’s more, AMZN continues to grow as consumers increasingly spend their cash digitally thanks to long-term uptrends in this category. But it’s also because Alphabet’s only serious rival to reach digital channels is social media giant Meta Platforms. And FB has been hard hit by a series of missteps that have weighed on both user engagement as well as advertisers’ willingness to put their cash on channels such as Facebook and Instagram. Cannabis sales across the U.S. have slowed since an early-pandemic boom, contributing to oversupply and forcing retailers to cut prices. Licensed retailers also face competition from the illegal market and must navigate the patchwork of laws restricting cannabis use across the U.S. Riccitiello also aims to claim a significant market share in the metaverse, which could be a market worth more than $10 trillion over the next 10 years or so.