3 Tech Stocks to Buy That Are Riding the Waves of the Future
It is hard to believe how something so new and important ends up becoming passé so quickly. Ten years ago the thought that a smartphone that could do almost everything a personal computer could do was unthinkable, especially since the smartphone was still being invented.
Technology in all its forms constantly changes and evolves, and those who fail to change often end up in the technology graveyard.
These days, while some of the older school tech companies are getting hit on their over exposure to certain areas like personal computers (PCs), other companies continue to innovate and pull ahead of the pack.
In a new research report from Jefferies, the analysts highlight three companies that are doing just that, and posting outstanding earnings as well.
This company is a leading video game developer that should benefit from not only the continuing rise in new console sales, but also the rising trend of mobile gaming. Electronic Arts Inc. (NASDAQ: EA) produces top-selling games and related content and services under the EA brand in various categories, including action-adventure, role playing, racing and first-person shooter games.
The company, which is very well known for its EA sports games like Madden Football, has made the move into mobile play by adapting many of the top franchise titles, which have been popular for years, into the mobile arena.
The company announced solid earnings last week, and the video trailer for the company’s new game Battlefield had an incredible 21 million views in just four days on YouTube. The game is set in World War 1, which sets it apart from traditional futuristic games. The huge viewership could portend big sales. The analysts noted that the company also expects 45% growth in next generation consoles this year.
The Jefferies price target for the stock is a bold $105, and the Thomson/First Call consensus target price is listed at $83.93. The stock closed Friday at $75.20 per share.