#Stocks expected to skyrocket 2021 software
The growing proliferation of video conferencing software as a result of the current work-from-home trend is expected to have remained a tailwind in the technology sector. Texas Instruments’s TXN fourth-quarter 2020 results reflect an uptrend in personal electronics, owing to the rising demand for electronic gadgets for remote working and entertainment during this pandemic and recovery in the automotive sector.Īdditionally, Intel’s fourth-quarter results benefited from increased PC shipment and solid demand for 11th Gen Intel Core processors. Microsoft’s MSFTrecently reported quarterly results, which were driven by strong momentum across Azure, Teams and gaming consoles,also testify the strong performance of the tech sector so far. This can be more ascertained by the strong performance of Apple AAPL in the December-end quarter, which benefited from solid demand for Mac, iPad, iPhones and wearables, and strong momentum across its Services segment.
Further, earnings for the companies increased 18.2% year over year on 11.2% higher revenues. Notably, 92.6% of these companies have topped earnings estimates and 88.9% of them have beat revenues estimates. Per the latest Earnings Preview, 63.7% of companies belonging to the sector have reported their December-end quarter’s results as of Jan 29. Solid adoption of cloud-computing solutions and internet services, increasing demand for semiconductors, growing proliferation of advanced technologies and rising user penetration on social media platforms are expected to have benefited the tech companies.įurther, a rebound in the automotive space and strengthening PC shipment worldwide are expected to have favored the technology sector in the quarter under review. Technology stocks’ fourth-quarter 2020 earnings results are likely to reflect an uptick in demand for tech-ridden products and services, owing to the rising work-from-home and learn-from-home trends amid the pandemic.
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