May 13, 2022 (StockMarket.com via COMTEX) -- Are These Consumer Tech Names Good Stocks To Buy Right Now?
With growth stocks seeing signs of potential recovery in the stock market today, some would argue that consumer tech stocks are a viable option to turn too right now. Sure, most of the top players in this industry would fall under the growth stocks banner. However, it is important to remember that consumer tech is becoming an increasingly crucial aspect of day-to-day life for many. From companies like Apple ( NASDAQ: AAPL ) with considerable pricing power to entertainment names like Roblox ( NYSE: RBLX ), this is evident.
At the same time, there remains no shortage of exciting developments in the consumer tech world as well. Notably, there is plenty of buzz around the ongoing sale of Twitter ( NYSE: TWTR ) to Tesla ( NASDAQ: TSLA ) CEO Elon Musk. According to an update from Musk, the deal is currently on hold "pending details supporting calculation that spam/fake accounts." As a result of the $44 billion deal being put on pause, TWTR stock would be on investors' radars today. Should all this have you keen to jump on the top consumer tech stocks, here are five to know in the stock market now.
Consumer Tech Stocks To Buy [Or Sell] In May 2022
Affirm Holdings Inc. ( NASDAQ: AFRM )
Robinhood Markets Inc. ( NASDAQ: HOOD )
Duolingo Inc. ( NASDAQ: DUOL )
Poshmark Inc. ( NASDAQ: POSH )
Qualcomm Inc. ( NASDAQ: QCOM )
Affirm Holdings Inc.
Affirm is first up on our list of top consumer tech firms to consider today. In brief, it is a fintech firm that specializes in providing buy-now-pay-later (BNPL) solutions. Through BNPL, consumers can make larger purchases and pay for their scheduled payment plans. For today, investors are likely tuning in to AFRM stock following the company's latest quarterly earnings release. In it, Affirm reported a total revenue of $354.8 million. To compare, the Wall Street consensus was at $344 million.
At the same time, Affirm is also extending its current collaboration with Shopify /zigman2/quotes/209033712/composite SHOP -5.64% . Because of this, the company will continue to serve as Shopify's exclusive BNPL service provider. For those uninitiated, all this is possible via integrations between Shop Pay Installments and the Affirm Adaptive Checkout system. According to Shopify, this financing product is a first of its kind. Namely, this is because it offers both biweekly and monthly payment options to consumers via a single integrated checkout interface. As such, would AFRM stock be a buy for you today?
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Robinhood Markets Inc.
Another consumer tech company to note now would be Robinhood Markets. Overall, the company is a major presence in the consumer stock trading business. Among Robinhood's key draws would be its commission-free trades of stocks, exchange-traded funds, and cryptocurrencies. All of which it brings to consumers via an easy-to-use mobile app. For consumers looking to get into the stock market, Robinhood could be among the go-to's today.
Despite seeing a decrease in overall trading activity for the quarter, HOOD stock seems to be gaining momentum today. On the whole, this could be due to several key developments from yesterday. Firstly, Citi ( NYSE: C ) analyst Jason Bazinet notes that Robinhood could be worth $15 per share via a takeover. Bazinet cites the "drop in HOOD's equity value," as a reason for takeover interest to grow. Secondly, according to an SEC filing, FTX CEO Samuel Bankman-Fried now holds a 7.6% stake in Robinhood. Because of all this, HOOD stock could be looking at exciting times ahead. Would you say the same?