Top tech stocks to explore in Q2: AAPL, MSFT, NVDA, ACN & CSCO

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Highlights

  • Apple Inc. (NASDAQ: AAPL) revenue jumped 11% YoY in Q1, FY22.
  • Microsoft Corporation's (NASDAQ: MSFT) revenue rose 20% YoY in Q2, FY22.
  • Accenture plc (NYSE: ACN) expects EPS to be between US$10.61 and US$10.81 in fiscal 2022.

Technology companies offer a wide range of products and services, such as software and hardware, gadgets, wireless, etc., that drives the modern economy. Although tech stocks have been dropping lately, the sector promises extraordinary advances in different spheres.

Despite higher inflation, surging bond yields, the Russian invasion of Ukraine that threatened global supplies, and possibly a more aggressive interest rate cycle this year, the sector is expected to remain in the driver’s seat.

Technology would be the bedrock of economic transformation that will permeate every business sphere, from e-commerce, banking, and social networking to manufacturing.

Here we discuss top S&P 500 technology stocks that could be worth exploring in the future.

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Apple Inc. (NASDAQ: AAPL)

Apple is one of the world’s leading technology companies engaged in consumer electronics, software development, tech services, etc. It is based in Cupertino, California.

The shares of the company closed at US$170.09 on April 8, down by 1.19% from their closing price of April 7. Its stock value decreased by 5.42% YTD.

The firm has a market cap of US$2.94 trillion, a P/E ratio of 28.16, and a forward one-year P/E ratio of 27.94. Its EPS is US$6.04.

The 52-week highest and lowest stock prices were US$182.94 and US$122.25, respectively. Its trading volume was 76,575,510 on April 8.

The company's revenue surged 11% YoY to US$123.9 billion in Q1, FY22, while its net income came in at US$34.63 billion, or US$2.10 per diluted share.

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Source: Pixabay

Microsoft Corporation (NASDAQ: MSFT)

Microsoft is a multinational technology firm specializing in software, consumer electronics, personal computers, and related services. It is based in Redmond, Washington.

The stock of the company closed at US$296.97 on April 8, down 1.46% from its previous closing price. The MSFT stock tumbled 9.97% YTD.

The market cap of the company is US$2.22 trillion, the P/E ratio is 31.63, and the forward one-year P/E ratio is 32.37. Its EPS is US$9.39.

The stock saw the highest price of US$349.67 and the lowest price of US$238.07 in the last 52 weeks. Its share volume on April 8 was 24,361,920.

The company's revenue increased by 20% YoY to US$51.7 billion in Q2, FY22, while its net income came in at US$18.8 billion, or US$2.48 per diluted share.

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NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA is one of the leading technology firms based in Santa Clara, California. It manufactures graphics processing units (GPUs) used in the gaming industry and other sectors.

The shares of the company closed at US$231.19 on April 8, down by 4.5% from their closing price of April 7. Its stock value fell 19.63% YTD.

The firm has a market cap of US$580.28 billion, a P/E ratio of 60.09, and a forward one-year P/E ratio of 51.51. Its EPS is US$3.85.

The 52-week highest and lowest stock prices were US$346.47 and US$134.59, respectively. Its trading volume was 52,478,060 on April 8.

The company's revenue jumped 53% YoY to US$7.64 billion in Q4, FY22, while its GAAP net income came in at US$3.00 billion, or US$1.18 per diluted share. For fiscal 2022, the company's revenue soared 61% YoY to US$26.91 billion.

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Accenture plc (NYSE: ACN)

Accenture is a multinational information technology firm based in Dublin, Ireland. It provides professional solutions and consulting services to clients in the technology sector.

The stock of the company closed at US$338.92 on April 8, down 0.83% from its previous closing price. The ACN stock fell 16.07% YTD.

The market cap of the company is US$214.67 billion, the P/E ratio is 34.17, and the forward one-year P/E ratio is 31.65. Its EPS is US$9.92.

The stock saw the highest price of US$417.37 and the lowest price of US$276.88 in the last 52 weeks. Its share volume on April 8 was 2,169,979.

The company's revenue increased by 24% YoY to US$15.04 billion in the second quarter of fiscal 2022, while its net income came in at US$1.65 billion, or US$2.54 per diluted share.

For fiscal 2022, the company expects its EPS to be between US$10.61 and US$10.81.

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Image Description: Technology stocks: AAPL, MSFT, NVDA, ACN, CSCO

Cisco Systems, Inc. (NASDAQ: CSCO)

Cisco System is engaged in manufacturing networking hardware, software, telecommunication instrument, and other related products. It is based in San Jose, California.

The shares of the company closed at US$54.28 on April 8, down 0.64% from their closing price of April 7. Its stock value decreased by 13.51% YTD.

The firm has a market cap of US$225.48 billion, a P/E ratio of 19.39, and a forward one-year P/E ratio of 17.68. Its EPS is US$2.80.

The 52-week highest and lowest stock prices were US$64.28 and US$50.10, respectively. Its trading volume was 18,148,380 on April 8.

The company's revenue jumped 6% YoY to US$12.7 billion in Q2, FY22, while its GAAP net income came in at US$3 billion, or US$0.71 per diluted share.

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Bottom line:

The S&P 500 Information Technology index declined 11.11% YTD but rose 11.68% over the past 12 months. In contrast, the overall index tumbled 5.58% YTD while rising 10.30% over the past year. The tech stocks have been dropping in 2022 amid various negative market forces.

However, investors should exercise due diligence before investing in the stock market.


 


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