Tech stocks have taken quite a hit recently, especially with smaller businesses that have less revenue and more operating overheads. Inflation has risen to 8.6% in the United States, the biggest growth rate since 1981. The Federal Reserve is looking to increase rates to hopefully slow the inflation rate for the country, but this also has a different angle to it. Technological companies will be needed in these times, especially with supply chain issues around the world as more and more people and companies are relying on remote data access and storage, factory automation, and green energy. Here are some companies that may just survive the slump and bounce back better than ever.
Snowflake is a leading cloud data warehousing company with an interesting stock history. Stock value plummeted in June from USD$400 to just USD$119 but the recent history has shown immense fiscal growth in revenues with USD$265 million in 2020, then to USD$592 million in 2021, and USD$1.2 billion in 2022. Analysts see this aggressive growth trend continue project fiscal earnings of 2024 to be at around USD 3.1 billion. It may be wise to invest in shares in this company while the prices are at such a low.
Bruker Cop has been around for 62 years and was founded in Germany. It was founded by physicists Günther Laukien and Emil Bruker. The company specializes in making high-end medical equipment for research laboratories as well as for industrial use. Most notable is their mass spectrometers used to measure greenhouse gas levels around the planet as well as their Nuclear Magnetic Resonance spectrometers which are used to study the workings of small molecules such as cells and proteins. Stock prices have fallen by 25% recently but it may be a good idea to buy some stocks while the price is down, as this sort of company is still much needed in the research field and they continue to innovate all the time.
Alphabet Inc. is the parent company of Google that was created in 2015. It has many subsidiaries including Calico, X Development, Isomorphic Labs, Google Fiber, Intrinsic, and Verily Life Sciences. These companies research an array of science and tech which include robotics software, drug discovery, human health, artificial intelligence, and drone-based delivery of freight. The stock prices for Alphabet Inc. are very low at this time of writing which is odd for a company of this size. If you were going to invest in US stocks any time soon it would be worth getting into a piece of the action here with Alphabet Inc. as the more they expand, the more the value of their stock will increase.
Meta Platforms Inc.
Meta is the parent company of subsidiaries such as Facebook, Instagram, Whatsapp, and Workplace, says BBC. Meta was formally known as Facebook Inc, but founder Mark Zukerberg changed the name in October 2021 as he wanted to expand his tech application research and thought the name would reflect that. His main aim is to create the ‘Metaverse’ which is an integrated virtual world that will connect all companies all around the world. Online advertising is a major source of revenue, and Meta is the second largest online advertiser behind only Alphabet Inc. Earnings are expected to hit record highs in 2023.