Technology stocks are usually very profitable. Many companies suffered during the pandemic, but the tech sector thrived. Some companies have skyrocketed and earned exorbitant amounts as people began to use different technologies during blockades and restrictions.
Meanwhile, some stocks have fallen, but are still likely to recover in 2021. These are three companies and have the potential to recover next year.
Uber Technologies, Inc.
The company recorded an excellent return of 75% in 2020. At the end of December, it was trading at a record high. However, ride-sharing companies are not approaching their bottom line, as customers are hesitant to book their vehicles for fear of Covid-19. However, Uber Eats’ delivery service has regained some slack. It was a huge success, but the balance sheet is still in the red, waiting for the full load factor to return.
Still, with the coronavirus vaccine circling around the world in the first half of 2021, Uber has a good chance of recovering and recovering its losses.
The social media giant managed to shake off political headwinds in 2020. It avoided the intense scrutiny of its rivals. Facebook Faced. The company and its CEO, Jack Dorsey, are also working on the necessary refurbishments to increase profits. They are working on a new advertising system that will be online in 2021.
Twitter was released in the mid- $ 40s of 2013 and hit a record $ 74.73 a few weeks later. Since then, stock prices have fluctuated and faced many ups and downs. However, we recently successfully tested new support and established a trading floor to support low-risk entries.
The Covid-19 pandemic has made great strides in the digital payments industry. However, Visa inventory is highly dependent on total payments. It suffers from high unemployment and the collapse of travel income. Still, both headwinds should disappear in 2021. In such cases, financial giants outperform last year’s modest 11% return.
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Three tech stocks that may be acquired in 2021
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