Most Important Tech Stocks for October 2020

The tech sector is one of the sectors that was positively affected by Coronavirus by having outperformed the broader market. The tech sector includes businesses that sell goods and services in electronics, software, computers, artificial intelligence, and other industries related to information technology (IT). Sector's well-known companies are represented by companies with the largest market capitalizations in the world such as Apple, Microsoft, and Amazon. As represented by the Technology Select Sector SPDR ETF (XLK), tech stocks have dramatically outperformed the broader market. XLK has provided a total return of 43.1% over the past 12 months, well above the Russell 1000's total return of 13.4%, as of September 25, 2020. In this article, we are going to see the most important tech stocks sorted by its best value, fastest earnings growth, and greatest momentum.  

Tech Stocks Sorted by its Market Value

NortonLifeLock Inc.: Headquartered in the US, the company provides cybersecurity software and services, which is a protection system that allows consumers to protect their electronic devices, online privacy, identity, and home networks. Natalie Derse who recently served as the Vice President and CFO of Global Product at Ebay Inc. has been announced as the Chief Financial Officer (CFO) of the company. Xerox Holdings Corp.: Headquartered in Norwalk, Connecticut the corporation sells print and digital document products and services in more than 160 countries. The company's capabilities include imaging and printing, data analytics, as well as the development of secure and automated solutions to improve productivity. The company which seeks a permanent successor announced that Xavier Heiss will serve as interim CFO as its former CFO William Osbourn will be leaving his position for personal reasons.  

Tech Stocks Sorted by its Fastest Growth

NCR corp.: previously known as National Cash Register is an American software, managed and professional services, consulting, and technology company that also makes self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners. NCR announced recently that it has formed a partnership with Microsoft to power its Digital Connected Services Internet of Things (IoT) management software through Microsoft's cloud services business, called Azure. Salesforce.com Inc.: The company offers a technology platform for customers and developers to build and run business applications. Meanwhile, its website Salesforce.com designs and develops cloud-based enterprise software for customer relationship management. Due to high gains on strategic investments and one-time benefits from income taxes, the company recorded a net income growth of 2,784.6% on revenue growth of 28.9% in Q2 of its 2021 fiscal year (FY), the three-month period ended July 31, 2020.  WEX Inc.: The company offers payment and transaction processing services for vehicle fleets, business-to-business payments, healthcare payment products, and more.  

Tech Stocks Sorted by its Most Momentum

Fastly Inc.: Fastly is a provider of cloud-computing services. The company also offers image optimization, security, edge computer technology, streaming solutions, and more. DocuSign Inc.: The company which helps its clients securely collect information and automate data workflows, announced in early September the appointment of Cynthia Gaylor, board member, and audit committee chair, to the role of CFO. Enphase Energy Inc.: The company which provides solar energy cells and monitoring equipment for distributors, large installers, original equipment manufacturers, strategic partners, and homeowners had posted a net loss of $47.3 million in Q2 2020 ended June 30, 2020, compared to a net income of $10.6 million in the year-ago quarter. Its revenue fell by 6.4%.   Source: Investopedia  

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