The tech-heavy indexes are trading near all-time highs, with the world’s leaders in the space dominating the markets over the past few years. While the S&P 500 is up nearly 16% year to date, the Nasdaq Composite, which is primarily composed of tech companies, has gained over 23% and has gained more than 250% over the last decade. With the possibility of these kind of returns investors should consider, if they haven’t already, positions within the sector.
Over the past year the several tech exchange traded funds generated double digits. The Technology Select Sector SPDR Fund (XLK) has gained nearly 30%, while Vanguard Information Technology ETF has risen almost 35% and the iShares U.S. Technology ETF increased 30%. The largest change in the history of U.S. stock market indexes took place recently, with tech goliaths Alphabet (GOOG), Netflix (NFLX) and Facebook (FB) switching to the new communications services sector leaving some confusion among investors. But keep in mind, as technology continues to evolve, there are numerous options in tech that aren’t your everyday FANG stocks.
With the tech sector currently one of the strongest in the market, as well for the most of this year, here are 3 tech stocks to consider adding to your portfolio.
ParcelPal Technology Inc. (PTNYF) (PKG)
ParcelPal is a technology-driven logistics company connecting consumers to goods throughout Vancouver, Canada. The Company offers on-demand delivery of merchandise from lead retailers, restaurants, liquor stores and even medical marijuana dispensaries all within an hour. The company intends to expand rapidly expand its reach throughout the nation and recently announced beginning its national roll-out plan beginning in Calgary, Alberta.
ParcelPal has signed a deal for Cannabis distribution with Vancouver, BC based Choom Holdings, Inc. (CHOO) (CHOOF), a leading Canadian cannabis retailer. CEO Kelly Abbott said, “We are extremely pleased and excited to have this agreement from Choom and fully intend to utilize other partnership opportunities to forward our national cannabis distribution and delivery strategy. Our contemplation is to be the Uber of cannabis for Canada and grow our revenues exponentially through this vertical”.
Today the company reported receiving gross proceeds of over $1,000,000 from the exercise of 7,797,646 warrants prior to their expiration dates on 1/12/2020 and 10/10/2019, leaving its cash position over $2,000,000 and intends on using these proceeds to further fund its expansion strategy.
Advanced Micro Devices (AMD)
AMD is an American multinational semiconductor company that develops computer processors and related technologies. The company is the second-largest supplier of x86-based microprocessors and is a leader in the Graphics Processing Unit (GPU) market. Recently, the company’s price target was increased to $38 from $21 by Stifel Nicolaus and to $25 from $15 by Barclays, with average rating among analysts as a hold.
AMD reported revenue for last quarter included that enterprise, embedded, and semi-custom (EESC) revenue, which includes gaming consoles, had risen 37% compared to its 53% increase of total growth in revenue. Computing and graphics were reported to increase 64%.
As we approach AMD’s next earnings report date, which is expected to be October 23, investors will be looking for another postive report. Analysts are forecasting earnings of $0.13 per share for a year-over-year growth of 30% and estimating a revenue around $1.7 billion, up nearly 4% from the prior-year quarter.
Netlist Inc (NLST)
Netlist provides high-performance SSDs and modular memory subsystems. The company’s leading products are NVvault® and EXPRESSvault™, which enable acceleration of data in servers and storage and reliably protect enterprise-level cache, metadata and log data in the event of a system failure and HybriDIMM™, a next-generation storage class memory product, addresses the growing need for real-time analytics in Big Data applications, in-memory databases, high-performance computing and advanced data storage solutions.
The company also develops and manufactures a line of specialty memory products and has several patents, in hybrid memory, storage class memory, rank multiplication and load reduction.
Last week, the company moved to trade on the OTCQX Best Market and intends on applying to relist its shares “on a major exchange in the future upon meeting the applicable new listing standards of that exchange,” the company stated.
Pursuant to an agreement between Midam Ventures LLC and ParcelPal, Midam is being paid $75,000 per month for a period of 3 months beginning September 18, 2018, and ending December 18, 2019. We own ZERO shares of ParcelPal.(PTNYF)(PKG) We may buy or sell additional shares of (PTNYF)/(PKG) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about ParcelPal.