The Best Tech Stock to Buy Now Is “On Sale” – 30% Off

We are deep into what I call the Digital Renaissance - a unique moment in time when small businesses and entrepreneurs are leveraging new technologies to spur massive growth.

Take digital content creation, for example - just one small niche blossoming during all this growth. Million Insights projects that field alone will be worth $23.52 billion by the end of 2025.

There's a lot more to it than that. As I mentioned that last year, we had 4.4 million new firms created largely as a result of all the shutdowns. At the same time, artists, bloggers, musicians, social influencers, writers, teachers, and financial advisors are creating and monetizing works online - and plenty are incorporating, too. This unprecedented creative boom, with its distinctly entrepreneurial bent, is all possible thanks to a wide selection of digital tools that these folks can use to unleash their creativity and grow their businesses.

This is a ride tech investors must be on, and I think my readers would agree.

Back on Oct. 8, I recommended Intuit Inc. (NASDAQ: INTU), whose acquisition of email marketing giant MailChimp set the stage for huge gains. And those huge gains came fast; my readers following along have had the chance to pocket nearly 20% in profits in under a month - more than three times the performance of the red-hot S&P 500.

I think there's a lot more upside ahead for investors with the savvy to follow this trend. I'll fill you in on the details, then show you a key tech stock to buy that, like Intuit, is also set to outperform the market for years to come.

As luck would have it, it's trading at a steep discount right now...

Tools Help Creators Get Set Up for Fast Success

Most analysts out there are calling this the "Creator Economy," but I don't, because that term could include any artists or artisans.

No, what we should really be talking about is the boom in online creators.

What's going on here is unprecedented in scale. We haven't seen this much growth in creative output since the Renaissance back in the 15th and 16th centuries.

With today's digital tools, creators can get started from nothing and go global seemingly overnight.

It's not just the software tools, 3D-printers, tablets for digital painting, and so on that have made this possible. But these tools do have a role in this trend, and subscribers to my Nova-X Report service have already had the chance to claim a stake in a powerful tool for game and metaverse development that I see as still having upside ahead.

More than that, we have reached critical mass because cloud and high-speed web connections are now common.

Working together, all these factors put world-class creative tools and marketing intelligence, backed by huge amounts of data and AI, at the fingertips of anyone who wants them.

It's easier than ever to start your own creative endeavor, make your voice heard, and - most importantly - get your creations sold.

It's Easy for Creators and Entrepreneurs to Go It Alone

Today, creators don't have to launch their own websites or try to build their own e-commerce service anymore. They can, of course, and often do once they grow big enough.

But if they want to, they can get started much faster. They're tapping into apps like Instagram, where they can showcase their latest creations through pictures and video, and people can order them right in the app.

Or they use Substack, a platform that makes creating an e-mail newsletter a breeze. It even handles managing subscription fees for just a 10% cut, letting creatives focus on writing the content they're good at.

No wonder journalists from the New York Times, The Verge, and elsewhere have left their jobs to work for themselves on Substack.

Patreon is another example. Here, creatives can post their output in a blog format with video, and lock it behind tiered membership levels. They decide what is available at which tiers, and what the monthly charge is for each level.

Many people use Patreons to support their favorite creators, even when what they make is released for free.

And of course, there's YouTube, where creators can have their own de-facto TV channels, with income from both sponsored content and ads before, during, and after their videos.

Industry analysts say that YouTube is the leading source of revenue for members of the Digital Renaissance.

But it's not the only one, and it's not directly investible since it is owned by tech giant, Alphabet.

That's why I'm happy to, once again, recommend you take a good look at Snap Inc. (NYSE: SNAP).

This Social Media Giant Is Growing Even Bigger

Snapchat has long outgrown being just a messaging app for sharing images.

It now features fully integrated, ad-supported short-form video content that is growing massively.

Sports shows, news, original programming, and even TV shows are now available on Snapchat, and over 50 million users a month watch TV content on the app.

This includes original programming from people such as mixed martial artist Conor McGregor, actor Jaden Smith, and comedian Kevin Hart.

The second season of McGregor's show, to take just one example, reached over 14 million viewers - without the backing of a major network.

Smaller creators can also make money off their videos. Between November last year and May of this year, the company paid out over $130 million to about 5,400 creators.

That includes over 250 people who were paid more than $100,000 each.

And in a first-of-its-kind move, Snapchat allows creators to make the details of their audience's demographics public to any businesses looking to find a new influencer to work with.

Businesses can then search for Snapchat creators that fit their criteria, and partner with them to showcase products and features.

Getting Ahead... and Staying There

Now, since I last mentioned Snap to you back on Jan. 22, the stock is up more than 44%, more than doubling the S&P 500's 18% return.

Based on its recent earnings, I see plenty of upside ahead. On Friday, Oct. 22, Snap reported per-share adjusted earnings of $0.17. That beat Wall Street's expectations of just $0.08 per share out of the water.

That's just the beginning. I project that Snap's earnings will double in the next three years.

However, the reported revenue of $1.07 billion came in just under the expected $1.1 billion. That, and a lower-than-expected outlook for fourth-quarter revenue, sent shares down after hours.

That's standard Wall Street overreaction. As the earnings show, the company is doing great and is growing at a very fast pace.

So, I see the dip in share price as a great buying opportunity. Wall Street just handed us more upside now that we can scoop up shares at a discount.

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