Best Tech Stocks of 2022
The Best Tech Stocks of 2022 are those that will continue to advance and grow with the technology market. Some of these companies include Amazon.com, Alphabet, EPAM Systems Inc. and Fortinet Inc. FTNT. These companies are also likely to experience growth as interest rates rise and the operating environment becomes more difficult.
Amazon has become the world’s biggest e-commerce company in the last 30 years, expanding from a small online book store to an enormous business that offers services in 200 countries. It is also a leader in cloud computing, with Amazon Web Services reporting 37% growth in the first quarter of 2022. It also has many notable subsidiaries, including Whole Foods, Zoox, and Twitch.
Tech stocks have struggled this year, but some companies have done well in the long run. Apple, for example, has seen its dividend rise nearly 45% since the start of 2020. Investors are becoming more cautious, and interest rates are on the rise. Geopolitical tensions and disruptions to global supply chains have also put pressure on the tech sector’s performance.
EPAM Systems Inc. EPAM
EPAM Systems Inc. is a company that specializes in digital platform engineering, product design and service development. It is based in Newtown, Pennsylvania. Founded in 1997, the company has a large client base and focuses on a wide range of projects. Here, we will provide a brief description of the company and its services.
EPAM Systems, Inc. provides software products and engineering services to businesses and organizations. It also provides consulting services to clients. Its services range from platform selection and customization to implementation and cross-platform migration. EPAM Systems uses industry-standard and custom technology for its solutions. Its solutions are mainly focused on the healthcare, travel, and software industries.
EPAM Systems Inc. is a software engineering and digital platform design company that serves customers globally. The company’s mission is to help clients create innovative and successful products and services by applying the latest technology. Its innovative design capabilities and customer-centric approach to software engineering have made it one of the most sought-after design firms in the world.
Fortinet Inc. FTNT
Fortinet Inc. (FTNT) is one of the best stocks in the Technology sector right now. This company is leveraging its leadership in network security to build a robust TAM and increase share against peers. However, the macroeconomic uncertainty has slowed the pace of deals, and longer payment terms have hurt the company’s bottom line.
Despite its poor performance in recent years, the company has a strong outlook for the next few years. Its recent deal wins should help it grow faster than the market average. In addition, the company is also focusing on enhancing its unified threat management portfolio. FTNT is expected to generate earnings growth of 31.3% this year, and the Zacks Consensus Estimate for its current-year earnings increased 1% over the past 30 days. Additionally, the company is trading at a discount to its 52-week high.
In addition to delivering superior security for data centers, FTNT has a solid cloud computing strategy. With the rise of cloud computing, many companies are upgrading their networking equipment and hardware. However, these upgrades cannot happen without effective security protection. Fortinet provides this protection, and its firewalls and chipsets are some of the most advanced on the market.
VeriSign Inc. VRSN
The stock of VeriSign Inc. (VRSN) gained 61% in the past five years and is now up 5% in the last two weeks. It has outperformed the S&P 500 and other broader markets. However, there are a few warning signs to watch for.
VeriSign provides Internet infrastructure and domain name registry services. It maintains the root zone for many of the world’s domain names. It was founded in 1995 by D. James Bidzos and is based in Reston, Virginia. VeriSign is a high-growth stock because of its role in Internet infrastructure. The company reports 35 million domain name registrations in the first quarter of 2022.
VeriSign’s EPS is currently $7.33, and analysts are forecasting earnings per share to increase to $6.07 in 2022, $6.76 in 2023, and $7.38 by 2024. The company is likely to pay dividends when it reaches this milestone.