Checking in With the Highest Rated Tech Stocks Before We Wrap Up 2020

Technology stocks have been on a tear since the market lows in March. Even if you weren’t convinced of the importance of technology, there’s no way you can deny that now.

Traditional brick and mortar stores were launched forward into ecommerce and curbside pickup models. Schools had to double down with online learning. And businesses everywhere had to keep their teams connected and accept remote work as a new trend.

One extreme tech winner of 2020 has been Zoom Video Communications, Inc. (Nasdaq: ZM) as share prices are up a staggering 501% since the beginning of the year. And that’s after a slide from October highs. But the Weiss Ratings aren’t convinced that’s where you want your technology money sitting right now.

So, instead of adding this “C”-rated stock to my watchlist, which is considering a “Hold”, I decided to take a quick peek and see which technology stocks are still a buy after this crazy year. Since Zoom falls in the technology sector, I decided to pop over to the screener section of the Weiss Ratings site to see the top stocks.

First up, we have Booz Allen Hamilton Holding Corp. (NYSE: BAH). This information technology giant offers consulting solutions for various corporations. Shares are up nearly 27% since the beginning of the year. And the Weiss Ratings system is still labeling it a “Buy” as we turn the corner into 2021.

Next up, there’s Adobe Inc. (Nasdaq: ADBE). This diversified software company is a household name. You have probably come into contact with Adobe Reader if you’ve ever opened a PDF on your computer. The company provides its signature software through the Creative Cloud using the software-as-service model. Shares are up 50% since the beginning of the year. And it’s still holding a strong “Buy” rating.

Lastly, we have Advanced Micro Devices, Inc. (Nasdaq: AMD). This semiconductor giant produces chipsets, graphics processing units (GPUs) and microprocessors. Its products are found in everything from PCs to data centers to gaming consoles. The company achieved record revenue during the third quarter and is set up to continue that momentum. Shares are up 95% since the beginning of the year and this stock is still holding a solid “Buy” rating.

So, as much as some tech stocks have gone up this year, there are still winners to be found according to the Ratings.

All three of these picks are still screaming buy.

Remember, there are always good opportunities and money wasters in every trend. So don’t forget to use the stock screener as your investing guide to make sure you’re putting your money in the safest opportunities.

Best,

Kelly Green