From AAPL, NVDA, COIN to SQ, top Web 3.0 stocks to explore in US

Web 3.0 is dubbed as the future of the internet. Web 3.0, the next iteration of the internet, is fully decentralized, although it is still in a nascent stage. It promises peer-to-peer internet services using blockchain technology, whose popularity has grown due to cryptocurrencies. 

The latest blockchain trend is the non-fungible tokens or NFTs. But Web 3.0's real potential will be determined by to what extent or how the different spheres of life, including businesses, adopt the technology. Its use may be quite different from what we understand today.

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Technology companies like Amazon Inc., Microsoft Inc., Meta Platforms Inc have benefitted from the Web 2.0 generation of the internet. It helped them collect vital consumer data to improve their services. But blockchain technology that runs on Web 3.0 has revolutionized the internet world and allowed the entry of cryptocurrencies. Here we discuss seven companies that might rely on blockchain for their projects in future.

Apple Inc. (NASDAQ: AAPL)

Market Capitalization: US$2.88 trillion 

Closing price on February 09, 2022: US$176.28

The Cupertino, California-based Apple Inc. offers popular products like iPhone, iPad, iPod, personal computers, and operating systems. Established in 1977, it develops its own hardware, software, operating systems, etc., for the best experience for its users.

Given the huge popularity of Apple products, as a next step, the company may develop tools to capitalize on Web 3.0.

Apple posted revenue of US$123.94 billion and a net income of US$34.63 billion or US$2.10 per share diluted in the quarter ended December 25, 2021.  

It has a P/E ratio of 28.86, the forward P/E for one year is 28.66, the current dividend yield is 0.5%, and the annualized dividend is US$0.88.

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NVIDIA Corporation (NASDAQ: NVDA)

Market Capitalization: US$656.5 billion 

Closing price on February 09, 2022: US$267.05

Semiconductor company Nvidia Corporation designs graphics processing units (GPUs) for different end markets, such as PCs for gaming, data centers, and automotive infotainment systems. It is based in Santa Clara, California. With more demand for computing power in blockchain technology, Nvidia may reap the benefits.

For the quarter ended October 31, 2021, the company reported revenue of US$7.1 billion and a net income of US$2.46 billion, or US$0.97 per share diluted.

It has a P/E ratio of 80.92 and a forward P/E for one year of 73.57. Its current dividend yield is 0.06%, and the annualized dividend is US$0.16.

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Advanced Micro Devices, Inc. (NASDAQ: AMD)

Market Capitalization: US$150.8 billion 

Closing price on February 09, 2022: US$132.85

AMD manufactures high-performing computing and visualization technologies. The Santa Clara, California-based company provides CPUs, APUs, GPUs and System-on-Chip (SoC).

For the three months ended September 25, 2021, the company posted revenue of US$4.31 billion and a net income of US$923 million of US$0.75 per share diluted.

It has a P/E ratio of 48.74 and a forward P/E for one year of 35.81. Its EPS is 2.58.

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Coinbase Global, Inc. (NASDAQ: COIN)

Market Capitalization: US$53.65 billion 

Closing price on February 09, 2022: US$214.5

Coinbase is a cryptocurrency exchange headquartered in Wilmington, Delaware. It was founded in 2012. It generates revenue from transaction fees, brokerage, data analytics, and collateralized lending.

Its net revenue was US$1.31 billion, and the net income was US$406 million or US$1.62 per share diluted for the quarter ended September 30, 2021.   

Its forward P/E for one year is 16.23. The company does not pay dividends.

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International Business Machines Corporation (NYSE: IBM) 

  Market Capitalization: US$97.68 billion 

Closing price on February 09, 2022: US$137.79

The technology company sells IT services, software, hardware, etc. It has 80,000 business partners serving around 5200 clients. The company operates in 175 countries.

For the September quarter, 2021, the company booked a net income of US$1.13 billion or US$1.25 per share diluted on revenue of US$17.6 billion.

It has a P/E ratio of 21.03 and a forward P/E for one year of 13.66. Its current dividend yield is 4.79%, and the annualized dividend is US$6.56.

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Block, Inc. (NYSE: SQ) 

 Market Capitalization: US$62.6 billion 

Closing price on February 09, 2022: US$112.84

The San Francisco, California-based Block Inc provides merchants with payment processing services. It was founded in 2009. The company offers financial services through its Cash App.

The company’s net income for the quarter ended September 30, 2021, was US$0.084 million on revenue of US$3.84 billion. The net income fell due to the increased operating expenses. 

Block Inc has a P/E ratio of 101.81 and a forward P/E for one year of 230.29. Its EPS of 1.07.  

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DocuSign, Inc. (NASDAQ: DOCU)

Market Capitalization: US$25.17 billion 

Closing price on February 09, 2022: US$128.16 

DocuSign offers a cloud-based software suite. It provides a legally binding e-signature facility to users on various devices, enabling them to automate and fasten the agreement process.

For the quarter ended October 31, 2021, it booked a net loss of US$5.67 million or US$0.03 per share diluted on revenue of US$545 million.  

Its forward P/E for one year is 1830.86.

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Bottomline

Blockchain technology is still evolving. Its real potential for use in various fields is still being explored. Web 3.0 will accelerate the development of decentralized systems, where smart contracts will control user data and transactions instead of centralized government agencies.