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In this section, we look at ten of the best emerging technology stocks to buy right now. For more shares, continue up 5 Best Emerging Tech Stocks to Buy Right Now
Technology is one of the largest and most important industries today. This is because technology companies are not only changing people’s daily lives, but also changing business processes. A few examples of the latter include big data analytics, artificial intelligence, enterprise resource planning, and robotics. These technologies enable companies to extract insights from large data sets, plan their future operations, manage resources and optimize production for maximum profitability.
Therefore, it is not surprising that the biggest companies these days are technology companies and many of the world’s billionaires have invested their fortunes in this industry. For example, the world’s most valuable company by market capitalization is none other than Cupertino, California-based consumer technology giant Apple Inc. (NASDAQ: AAPL ). Apple’s latest market capitalization is $2.61 trillion — about one-tenth the market capitalization of the NASDAQ, the second-largest stock exchange in America. The second most valuable company in the world is Microsoft Corporation (NASDAQ:MSFT) with a market capitalization of $2.17 trillion, while the fourth most valuable company in the world is Alphabet Inc. (NASDAQ:GOOGL)’s latest market cap is at $1.3. Trillion.
Yet while Google, Amazon, and Microsoft sit at the top of the tech food chain, there are hundreds of thousands of tech companies in America. According to information from the technology trade association CompTIA, There will be at least 585,000 technology companies in the US by December 2022, up from 557,000 companies in 2021. Millions of people are employed in the sector, with data from Janco Associates showing 4.13 million people in 2015. They were employed as information technology professionals in the US until April 2023. The Commerce Department based this data on employment in the U.S. high-tech sector scattered across clusters, the largest of which are in Washington, California, and Texas. , and a few east coast states. The city of San Jose, California led the U.S. in employment growth in high-tech occupations from 1979 to 2020, and the city’s employment will grow by an average of more than 20 percent. From 8 percent job growth from 1979 to 1989, Growth could double to less than 15 percent by 2020, according to Commerce Department data. Other notable areas are San Francisco, which continues to grow, and Boston and New York, which have stable growth rates.
At the same time, every place in the modern standard of living makes the technology sector one of the most expensive in the world. For example, a research report from a business research company found that the information technology industry was It is estimated to be worth a staggering $8.1 trillion by 2022 and is expected to grow to $8.8 trillion by the end of this year at a compound annual growth rate (CAGR) of 8.2. % Since then, the sector should post a CAGR of 7.9% and be worth $11.9 trillion by the end of 2027, the report added, adding that globally, Asia is the largest information technology hub, followed by North America.
A hot topic in the tech industry right now is artificial intelligence. While many people generally associate artificial intelligence with robots that look and feel human, in reality, it is a complex set of mathematical techniques that use probabilities to determine the outcome of an event. Currently, the AI mania is fueled by the popularity of ChatGPT. ChatGPT has been teasing the press about whether established industries like law and computer programming will become a thing of the recent past as AI takes over the world.
In this regard, billionaire Ken Fisher of hedge fund Fisher Investments shares his views on whether artificial intelligence can help investors make better decisions. In a new video, Mr Fisher shared:
It is increasingly popular to think that artificial intelligence will be the next big wave when it comes to markets. And other things too. And, in fact, in some things, it will be. But not with markets. For as long as I can remember, nearly fifty years in my professional career, people have looked to IT technology to provide excellence in order to outperform others. And sometimes the discoveries people make make them explode a little bit in that for a while. First, when I was young this was often referred to as a magical black box. The famous black box that allows you to beat the market, beat other people, etc. If all of that works, which it usually doesn’t, it fades quickly. And this feeds into the pure quantum world of putting formulas together and feeding the formulas into the computer to beat the market or beat others.
But the reality is that all of that, including the addition of Chat now if you want, and I think it’s appropriate to implement Chatter on the Chat App, GPT, Chat GPT. Which app is basically nothing wrong. It’s great for some purposes, but like everything else, it’s relatively dependent on the laws of the market. Laws are, by their very nature, built in, and therefore specific forms of discrimination, and therefore stand at that level. And the reality is that markets are never, markets are always changing, irregular and something like life. A living being, a law-based, living being can never be found. A living thing is always changing before it.
With these details in mind, let’s take a look at some emerging tech stocks, with top picks including Paysafe Limited (NYSE:PSFE), Stem, Inc. (NYSE:STEM) and, Photonics, Inc. (NASDAQ:PLAB).
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Our method
To compile our list, we first listed the thirty tech companies with the highest market capitalizations under $1 billion. Then, ranked by hedge fund sentiment from Insider Monkey’s Q4 2022 survey covering 943 hedge funds, the top ten tech stocks are listed below.
The best new technology stocks to buy now
10. Contractor (NASDAQ:CNDT)
Number of hedge fund investors in Q4 2022: 20
Conduent Incorporated (NASDAQ:CNDT) is an American company headquartered in Florham Park, New Jersey. It enables companies as diverse as transportation, healthcare, and more to run analytics, automate services, and automate operations.
At the end of last year’s fourth quarter, 20 out of 943 hedge funds owned shares in Conduent Incorporated (NASDAQ:CNDT ), according to InsiderMonkey’s database. Of these, the company’s largest investor is Carl Icahn, Icahn Capital LP, with 38 million shares worth $154 million.
Stem, Inc. (NYSE:STEM), Paysafe Limited (NYSE:PSFE) and phototronics, Inc. ( NASDAQ:PLAB ) sees strong hedge fund sentiment in Conduent Incorporated ( NASDAQ:CNDT ) as an emerging technology stock.
9. PAR Technology Corporation (NYSE:PAR)
Number of hedge fund investors in Q4 2022: 20
PAR Technology Corporation (NYSE:PAR) is a software company based in New Hartford, New York. It allows restaurants and other retail outlets to manage point of sale, customer loyalty programs, ordering and other operations.
Of the 943 hedge funds surveyed by Insider Monkey, 20 invested in the company in Q4 2022. PAR Technology Corporation (NYSE:PAR)’s largest hedge fund shareholder, Adam Wyden’s ADW Capital, owns 1.6 million shares worth $43 million.
8. Clearfield, Inc. (NASDAQ:CLFD)
Number of Hedge Fund Investors in Q4 2022: 21
Clearfield, Inc. (NASDAQ:CLFD) is a communications equipment company based in Minneapolis, Minnesota. It designs and sells a variety of technology products such as switches to manage fiber networks and other products.
As part of the December quarter’s 2022 investments, 21 of the 943 hedge funds surveyed by Insider Monkey held Clearfield, Inc. (NASDAQ:CLFD) held shares. Richard Driehaus Driehaus Capital is the company’s largest shareholder with 544,014 shares valued at $51 million.
7. GoPro, Inc. (NASDAQ: GPRO )
Number of Hedge Fund Investors in Q4 2022: 21
GoPro, Inc. (NASDAQ: GPRO) is one of the most popular technology companies and a household name. Its wearable cameras are popular with consumers in all walks of life, and the company also offers software products to complement the hardware.
Of the 943 hedge funds surveyed by Insider Monkey, 21 own GoPro, Inc. (NASDAQ:GPRO) bought shares during the fourth quarter of 2022. Of these, the company’s largest investor is DE Shaw’s DE Shaw, which owns 3.6 million shares, worth $18 million.
6. Benchmark Electronics, Inc. (NYSE:BHE)
Number of Hedge Fund Investors in Q4 2022: 21
Benchmark Electronics, Inc. (NYSE:BHE) is a provider of product design and engineering services based in Tempe, Arizona.
Insider Monkey dug into 943 hedge funds for Q4 2022 and found that 21 bought a stake in the company. Benchmark Electronics, Inc. (NYSE:BHE)’s largest hedge fund investor is Israel-based Millennium Management, which owns 834,063 shares.
Paysafe Ltd. (NYSE:PSFE), Benchmark Electronics, Inc
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Disclosure: None 10 Best New Tech Stocks to Buy Now Originally published on Insider Monkey.
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