Salesforce Inc (CRM)

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Top Tech Stocks to Buy in 2021
By: TheStreet | March 4, 2021

• Here are the best tech stocks to buy in 2021 as digital transformation should continue to drive many of the gains in the technology sector in the new year.

A year ago at this time, it was impossible to foresee the tumult of 2020, yet it was predictable what stocks would perform best. Thankfully this should be true again in 2021.

This is because the bigger narrative will not change. Digital transformation is still the largest, most investable trend in a generation. In 2021, expect investors to continue to reward the shares of companies that dominate efforts to reduce friction in business and society by replacing physical goods and services with the software.

I have a list of five businesses that should get a lot of positive attention next year.

1. Salesforce CRM

I began recommending Salesforce (CRM) back in 2009. The $210 billion company is best known for its suite of cloud-based customer relationship management tools. For most large enterprises, CRM is a digital transformation jumping-off point. It helps them digitally manage customer service, sales leads, marketing and commerce all on one platform.

Salesforce operates a thriving ecosystem with third-party developers building custom software for specific applications. It is the best place for enterprises to dip their toe in a CRM marketplace.

In early December, the San Francisco, Calif.-based company announced the $27.5 billion acquisition of Slack (WORK), a maker of communication software. Salesforce shares promptly lost 18%. The same day, the company reported fiscal 2021 third-quarter sales of $5.4 billion, up 20% year-over-year. Managers predict full-year revenues should top $21 billion, up 23%. It’s rare investors get an opportunity to buy a great business on the cheap.

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