2020 brought a lot to the global market. The trade war with China continues, the U.S. presidential election is on the horizon, Iran tensions are rising. Tech investors maybe are worried about the recent event. Thus there is a possibility they might want to shift their interest to other stocks.
However, there are tech stocks that are unfazed by whatever is going on and have future growth potential without elevated risk.
Here are the top three:
- Twitter (NYSE: TWTR) – media platform.
- Adobe (NASDAQ: ADBE)- software maker.
- AMD (NASDAQ: AMD) – Chipmaker company.
The rebound may be in store for Twitter
Social media giant Twitter expects to become a big beneficiary of a double-digit rise in its ad spending. The advertiser, in theory, plans to spend 2020 a total of USD341 billion. The Wall Street firm analysts suggest that Twitter will be a big winner if its user base continues to grow. With a USD40 price target, Bank of America is calling for a 25% upside in shares.
Adobe shows steady growth
2019 was not so bad for Adobe as it finished up 44%, driven by growth in its cloud business. The subscription growth is expected to double in 2020 as well. Thus, Adobe has been successfully riding the cloud computing trend, providing consumers and corporate customers access to its popular software solutions. Wall Street experts that analyze the Adobe stock market suggest the most bullish shares can hit USD410 in 2020, representing a 23% surge.
AMD strides forward
Last but not least, AMD. The stock ended the year with a massive 140%, and in 2020, it’s already trading even higher. At the moment, the company expects to go even higher. The Wall Street investment firm predicts even more successes in 2020 as AMD’s competitive position against Intel strengthens further thanks to new product launches.
Let’s hope this growth won’t stop till the end of 2020!