In today’s world, technology is a crucial component every business needs to reach the pinnacle of success. Just look around; almost every established global company or brand is a giant in the tech industry. Where there’s tremendous success, there’s money.

Technology promises something new each year. With the turn of the decade, the opportunity to take advantage of it continues to rise.

To get in on the action, check out the top tech stocks that can help bolster one’s portfolio this 2020.

Computer Hardware and Programming Software

Even if NVIDIA (NASDAQ: NVDA) has taken a few hits over the last few months, it’s still a compelling company to buy or hold stocks from in the long run. Mark Lipacis, a Jefferies analyst, makes a good point that NVIDIA is still a top dog in secular trends.

From autonomous vehicles to AI and gaming, this brand definitely has its hand in the cookie jar. RBC Capital shares that NVIDIA is gaining traction in the race for new AI, which is largely due to its CUDA software. Many software developers and engineers are interested in this parallel computing platform because of its versatility and accessibility.

USB 3.0 Technology

Many manufacturers of devices, from phones to laptops, have been slowly implementing this newest USB standard since a decade ago. While a lot of time has passed since then, many people still have older devices that don’t have this connection type.

For instance, people who own a Surface Pro 3 may consider getting a reliable adapter that enables three additional USB 3.0 ports to efficiently deliver power to all USB devices⁠. Do keep up with this switch because this movement won’t be halting anytime soon.

USB 3.0 boasts smaller designs, faster transfer rates, and enhanced charging power. it’s not a surprise why many brands use this connection for their latest models.

This technology is manufactured by well-known brands like Intel (NASDAQ: INTC) and Microsoft (NASDAQ: MSFT). Both of them are pretty much a safe bet when it comes to being solid contenders in the stock game.

Retail Software

Shopify (NYSE: SHOP)  has accomplished something other retail brands can only dream of doing—taking on Amazon and actually winning. Shopify is a provider of software services for retailers who want to dive into the online marketplace.

Amazon itself tried this business venture, but the industry giant ended up surrendering and ceding the playing field to Shopify. Just considering the vast market of internet retail ensures Shopify’s bright future.

While this brand’s stocks are getting expensive, the price is most likely warranted. After all, Shopify almost has a complete monopoly on this type of service.

Finance Tech

In the world of finance tech, most analysts remain upbeat when it comes to PayPal (NASDAQ: PYPL) stock’s moderate buy. Why?

Well, first off, PayPal can offer a massive scale, and unlike most other tech stocks, it uses a two-sided model with both merchants and consumers onside. So this brand can fully control their customer’s entire experience.

RBC Capital shares that PayPal’s assets let the brand utilize the long-term shift from conventional commerce to digital. The firm also believes that PayPal serves as the spearhead in democratizing global finance.

Cloud Monitoring Services

Datadog (DDOG) is arguably the most popular company in this industry and the most expensive. However, you can’t argue with their results. This company trades up to 35 times its sales.

With its high price, Datadog reached a revenue of $96 million this quarter, which is an 88 percent increase of last year’s. It also reached a 76 percent gross margin. With that said, Datadog only broke even in terms of profitability (non-GAAP basis).

Its amazing sales growth is nothing to be laughed at, though. One other noteworthy number that needs mentioning is its net retention rate, which reached up to 130 percent. This means that the brand kept its whole subscription revenue value from last year, with an added 30 percent revenue from its existing client base.

Final Thoughts

The historic dot-com crash left a lot of tech investors wanting, to put it lightly, so it’s not surprising why many aren’t too keen to reenter the tech scene. Since then, though, this industry has seen a healthy and impressive rebound. A lot of tech companies are reaching their first trillion marks, with many more to follow.

Tech stocks are once more taking over the market and their investor’s portfolios—and they’re not the only ones benefiting from this.

Through innovation, people see a considerable improvement in their lives, with driverless cars, blockchain security, and countless other technologies driving them through a better age.