The trio are looking to introduce self-driving AVs on the Lyft network by the end of 2021. Now, the company is currently working with Argo AI, a global autonomous vehicle (AV) tech firm, and Ford ( NYSE: F). On top of all that, Lyft does not seem to be sitting idly by as well. In particular, the company’s July sales figures remained strong despite rising coronavirus cases.
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According to CFO Brian Roberts, Lyft drivers also saw record hourly earnings in the quarter. In terms of active riders, the company added 3.6 million quarter-over-quarter. This marks a whopping year-over-year surge of 125%. In its second-quarter fiscal posted last week, the company raked in a total revenue of $765 million for the quarter. Despite the current operating conditions, Lyft continues to perform on the financial front. Well, for starters, the company’s shares are currently looking at gains of over 150% since its pandemic era low. The real question now is, could LYFT stock be worth investing in at its current price point? On the other hand, this could see demand for its food delivery services rise. On one hand, the company’s core ride-hailing business would be somewhat affected by rising coronavirus cases. Now, Lyft would be in a unique position, to say the least. All of this is currently available to consumers via its proprietary mobile app of the same name. In essence, the company specializes in providing ride-hailing, vehicle-sharing, and food delivery services. To begin with, we will be taking a look at Lyft. Best Consumer Tech Stocks To Buy In August 2021 On that note, here are three consumer tech stocks to consider in the stock market today. By and large, consumer tech will likely continue to cater to the needs of consumers in our increasingly tech-reliant world. For consumers canceling their fall travel plans, this would be a viable way to redirect their discretionary dollars. Earlier this week, leading smartphone manufacturer Samsung ( OTCMKTS: SSNLF) revealed its latest line of foldable devices. As a result, I could see investors eyeing some of the top names in the consumer tech space now.Īdding to all that, the consumer tech industry remains hard at work regardless of the current pandemic conditions.
In fact, a recent survey by CNBC found that nearly 6-in-10 small business owners are “ shifting their business outlook” for the rest of 2021. This would be evident as hospitalizations and death rates continue to increase at alarming rates. Now, after considering all of this, the rising number of delta variant cases globally could create similar business environments across the board. Both companies’ services allow consumers to make payments and shop online without being exposed to other people. We could look at the likes of Square ( NYSE: SQ) and Shopify ( NYSE: SHOP), for instance. After all, tech not only brings consumers a new level of convenience in most cases but also facilitates many contactless processes. With the pandemic raging on and consumers stuck at home, demand for tech services and products skyrocketed. To begin with, most seasoned investors would know that tech stocks, in general, thrived throughout 2020. For the most part, this would be thanks to the current happenings with the pandemic. While investors search the stock market for good stocks to invest in now, consumer tech stocks shine. Are These Top Consumer Tech Stocks Worth Adding To Your Portfolio Now?
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