Tech stocks had a rough start to the year with soaring government bond yields. The high-tech Nasdaq Composite is down about 4.5% year-to-date. With many growing tech stocks falling, many are turning away from this section of the stock market. While many share this sentiment, Cyrus Mewawalla, head of thematic research at data analytics and consulting firm Global Data, apologizes for not agreeing. He believes Big Tech will continue to grow this year, thanks to several emerging technologies. However, investors should keep an eye on the tech industry as it is always teeming with opportunities.
For example, TakeTwo Interactive (NASDAQ: TTWO) and Zynga (NASDAQ: ZNGA) reached a deal for TakeTwo to buy Zynga this week. As part of the deal, TakeTwo will buy all of Zynga’s outstanding shares in a cash and stock transaction valued at around $ 12.7 billion.Therefore, this acquisition will bring together two leading companies in the interactive entertainment industry. Thanks to this, TakeTwo is now one of the largest and most diverse mobile game publishers in the industry. In the wake of this news, Zynga stock rose more than 40% during Monday’s intraday trading. With that news in mind, here are four tech stocks to consider in today’s stock market.
Top Tech Stocks For January 2022
- Confluent Inc. (NASDAQ: CFLT)
- Palo Alto Networks Inc. (NASDAQ: PANW)
- Microsoft Corporation (NASDAQ: MSFT)
- Oracle Corporation (NYSE: ORCL)
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