Information technology (IT) is one of, if not the most important, technology sectors in today’s world. As a result, it’s understandable that IT stocks represent a prominent segment of the stock market nowadays. Without getting into too much detail, information technology generally entails creating and processing electronic data and information. As a result, almost every tech company either provides software services or hardware that falls within this category. For the most part, they serve a diverse variety of end markets. Financial and political entities, as well as companies and customers, are examples.
Take, for example, Meta Platforms (FB). Overall, the organization currently covers a wide range of IT services. On the one hand, its massive social media network allows customers to interact and socialize from anywhere in the world. Its advertising and e-commerce options, on the other hand, enable businesses to engage with its vast user base.
Simultaneously, firms like Qualcomm (QCOM), which makes hardware for the IT sector, are growing. In its fiscal first-quarter release, the chipmaker exceeded Wall Street’s forecasts across the board. It also set a new first-quarter sales record, owing to increased demand for its chips in the burgeoning smartphone sector. Regardless of all of these factors, the IT space could be an interesting one to play in.
Here are three well-known buy-rated IT stocks that the analysts call wise choices for our portfolios:
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Nvidia Corp (NVDA)
Nvidia is a multibillion-dollar technology corporation best recognized for its graphics processing units (GPU). The business pioneered the graphics processing unit (GPU), which has paved the way for next-generation computer graphics, high-performance computing, artificial intelligence, and data centers. Many industries, including manufacturing, transportation, and health care, employ its goods and services. The stock of NVDA has increased by more than 80% in the last year. The corporation will release its fourth-quarter financial results after the market closes on February 16th, 2022.
NVDA shows us an EPS (Earnings-per-share) of $1.22 per share for the current quarter, with $7.4 billion in sales. It has easily bested Wall Street’s projections on EPS and revenue for the last four consecutive quarters. NVDA currently pays a dividend yield of 0.067%. Its year-over-year numbers indicate positive growth on both an annual and quarterly basis. The median price target for NVDA from the analysts that provide 12-month predictions is 350.00, with a high of 400.00 and a low of 200.00. The estimate is up 42.47% from current pricing, and the consensus gives NVDA a solid buy rating.
T-Mobile US Inc (TMUS)
T-Mobile US Inc (TMUS) is a telecommunications business that provides statewide 5G and improved 4G LTE connections. It has over 100 million subscribers and is one of the top cellular carriers in the United States. It also provides an unrivaled combination of value and quality to its clients. TMUS’s stock has undoubtedly caught the attention of Wall Street. The corporation released its fourth-quarter and full-year financial results for 2021 on Wednesday.
With its distinct customer growth momentum and synergy-backed approach, it continues to produce industry-leading service revenue. The quarter’s net income was $422 million, while the full-year net income was $3 billion. During the quarter, it also added 1.8 million postpaid net users. In addition, the number of high-speed internet net consumers grew by 224,000 in the third quarter, the most in the business. TMUS shows $20.2 billion in sales at 53 cents per share for its current quarter. TMUS has a median price target of 163.50 among the analysts that provide 12-month price estimates, with a high of 230.00 and a low of 113.20. The forecast reflects a rise of 36.22% from its previous price, and the consensus is to buy stock in TMUS.
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Apple Inc (AAPL)
Apple (AAPL) is another big brand in the IT world. We’re all familiar. Thanks to its massive assortment of industry-leading consumer gadgets, its business is solidly established in the IT sphere. In terms of hardware, users worldwide rely on AAPL‘s iPhones and Macs for work and enjoyment. The firm offers a broad suite of complementary software services to accompany its hardware. This includes everything from Apple TV+, its streaming service, to iCloud storage and Apple Music.
AAPL‘s recent quarterly results are causing some excitement even among its mega-cap tech stock peers. For the quarter, the business earned $2.10 per share on revenue of $123.9 billion. This is much more than Wall Street projections of $1.89 billion and $118.66 billion, respectively. Aside from iPad sales, Apple’s main product categories are also enjoying revenue increase year over year. For example, its iPhone revenue for the quarter totaled $123.9 billion, a rise of 11% year-over-year. AAPL currently pays a dividend yield of 0.22%. The current quarter shows us $94.4 billion in sales, at $1.43 per share. The median price target for AAPL among the analysts that provide 12-month predictions is 191.50, with a high of 215.00 and a low of 154.00. The median estimate implies an increase of 9.91% from current pricing, and the consensus among analysts gives AAPL a very strong buy rating that doesn’t look like it’s changing any time soon.
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