The tech market continues to get hammered due to the fear of consumer spending decreasing. Today's video focuses on Shopify (SHOP 2.60%), Unity Software (U 0.49%), Qualcomm (QCOM 1.75%), and Taiwan Semiconductor Manufacturing (TSM 1.14%), four stocks on my watch list this week. Here are some highlights.
- The semiconductor shortage continues to bode well for companies like TSM. During its latest earnings, TSM reported over 35% year-over-year revenue growth driven by the growth in its HPC segment, which are chips used in data centers and other high-performance computing. TSM management believes that HPC will continue to be a strong tailwind for the next quarter.
- Qualcomm is another semiconductor company that has fallen over 25% from its all-time highs. Like TSM, this is a semiconductor stock with positive earnings, double-digit revenue growth, and an attractive dividend yield. Qualcomm is beginning to offer solutions in the automotive market. Even though the automotive market is its smallest revenue segment, management believes vast opportunities exist.
- Unity and Shopify are leaders in their respective markets by offering many tools for their customers. Unfortunately, the current market has cut stock prices by over 50% from all-time highs for both companies.
*Stock prices used were the market prices of April 29, 2022. The video was published on April 30, 2022.