Some companies lead their sectors to new areas of growth. Others may hold back, to determine where the best prospect for growth is right now. Both can have their merits, if successful. A handful of today’s top tech trends should benefit all companies.
That includes the rollout of the 5G network, the ongoing growth of electric vehicles, and the digitization of the economy.
In the EV space, the past few years has seen a big shift by traditional automakers into the EV space.
The latest to make the move is Toyota Motors (TM). The automaker has been the leading producer of hybrid vehicles, since it introduced its popular Prius model in 2003. Now, the company is spending $5.3 billion in battery technology for fully-electric cars, with plans to create enough batteries by 2026 for half a million EVs.
Action to take: Shares of the leading carmaker by global production now trade at under 10 times earnings and just under 1 times sales thanks to the recent market selloff. Today’s investors can also grab a 2.9 percent dividend yield. Investors can likely get a better buying price in the coming weeks.
For traders, shares are still currently in a downtrend. The January 2023 $150 puts are an at-the-money trade. Last going for about $9.70, they offer mid-double-digit returns in the coming months as stocks are likely to move lower.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.