Is now the right time to buy tech stocks?
Before we answer this key question, let us just briefly unpack what exactly accounts for tech stocks, and in essence, the tech sector. The tech sector can be partitioned into two major segments under which there exists a series of subsidiaries. On the whole its made up of cloud computing providers, gadget makers, software developers, streaming services, wireless providers and more. The two major segments that define the tech sector would be hardware companies and software companies and within these two tech divisions youll find the rest of what makes up for this vast industry comprising everything from personal computers and fitness trackers to operating systems and cybersecurity software. The boost of 2020  There was a general assumption that the incredible sales growth enjoyed by many tech companies in 2020 would see a decline. This however has not been the case and if anything, it looks like all those trends (Zoom etc.) that were bolstered by the conditions of last year are in fact in it for the long haul. According to Chewy, an online pet retailer, sales sprung by 47% last here and has already enjoyed a growth of 25% in 2021  these are just sales figures for one online retailer, and in many ways serves as a microcosm for what is happening within the entire e-commerce sector. Another example of how last year served as a shot of adrenaline to the tech sector can be illustrated by Cloud communications specialist Twilio (NYSE:TWLO), who ended off the year with 55% in revenue growth. The company was able to capitalise on the sudden need to facilitate online education. This year the company has already reported growth exceeding 60% in Q1. The success of these two companies are mirrored by many others within the tech sector. The most valuable companies are tech companies  As it stands, the most valuable companies in the world are technology companies. Apple, considered the most valuable company in the world recently saw tremendous growth thanks to its adoption of 5G technology within in its latest range of iPhone 12s. Quite recently at the WWDC (worldwide developers conference) held on June 7th, the company wowed shareholders and investors with its tremendous software updates and roll-outs. Joining Apple on the list of the most valuable tech companies in the world are:  Amazon.com (NASDAQ:AMZN)  Microsoft (NASDAQ:MSFT)  Intel (NASDAQ:INTC)  Cisco Systems (NASDAQ:CSCO)  Netflix (NASDAQ:NFLX)  Facebook (NASDAQ:FB)  Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL)  The proliferation of the tech sector isnt exclusive to the US as the list above might imply  those are just the biggest and most successful ones of the lot. However, the intricacies of the tech sector encompasses the entire world, with close neighbours to the US like Canada snapping at its heels, so much so that the USD CAD has become a popular trading option. And its not just because places like Canada have shown growth in their tech sector amidst the challenges of last year, but also because as a commodity country, Canada continues to be Americas biggest supplier of oil, timber and natural gas. Tech stocks to buy now  This brings us to tech stock worth purchasing now. A lot has happened in the tech world as of late, specifically with regards to the power of social media and its role in the boosting of share prices. A prime example was what happened not too long ago with GameStop on the discussion website, Reddit. GameStop was tanking until members from a massive forum on Reddit called Wallstreetbets decided to pool their resources and bolstered the stock from $3 a share to $20 at the end of 2020. This brings us to AMC (American Multi-Cinemas), an established entertainment company known for popular shows like Breaking Bad, The Walking Dead and Preacher. History has quickly repeated itself with AMC and once again Reddit and the power of social media are to thank. Investors were betting against the stock only to have a forum on Reddit come to the rescue. To put it another way, just shy of the year-ago the share price for AMC was $2. Through the recent happenings, AMC stock shot to over $60 per share, eventually stabilising at around $48 per share at the time of writing. In this arena, sometimes youve got to move quick, and right now might be the time to get in on the AMC action. Let us know down below in the comments or carry the discussion over to our Twitter or Facebook. Editors Recommendations: