There are a few S&P/ASX 200 Index (ASX: XJO) tech shares that might be quality ideas to look at.

Technology businesses have the capacity to produce attractive growth with good margins, particularly if they become one of the market leaders. 

These two ASX 200 tech shares could be good ones to think about:

Hub24 Ltd (ASX: HUB)

Hub24, the financial platform business, is currently rated as a buy by the broker Credit Suisse, with a price target of $27.70 over the next 12 months.

The broker is attracted to the continuing growth that Hub24 is producing. That growth is expected to continue in the final quarter of FY21.

That third quarter market update saw platform quarterly net inflows of $1.9 billion – an increase of 41% on the prior comparable period. That was also an increase of $0.2 billion than the last quarter.

Total funds under administration (FUA) is now $51.4 billion, including Xplore Wealth, which contributed $17.2 billion as at 31 March 2021, with platform FUA of $35.6 billion at 31 March 2021 (up 136% year on year). Portfolio, administration and reporting services (PARS) FUA of $15.8 billion.

In that update, the ASX 200 tech share said that its new business pipeline continues to grow with 28 licensee agreements signed during the March quarter, with large boutique licensees, self-licensed practices and a new distribution agreement with an existing Xplore client where additional Hub24 products will be offered alongside the current Xplore solutions.

According to the latest available ‘Strategic Insights’ data for the Australian platform market, Hub24’s market share has increased to 2.5% from 1.75% at December 2019. Xplore’s market share – 1.85% at December 2020 – increases Hub24’s combined market share to approximately 4.3%.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne, the global enterprise resource planning (ERP) software business, is rated as a buy by Morgans.

The broker has a price target on the business of $10 over the next 12 months. Morgans is focused on the software as a service (SaaS) and recurring revenue nature of the expected growth.

TechnologyOne released its FY21 first half result to the market a few weeks ago.

Whilst total revenue was up 5% to $144.3 million, expenses declined 5% to $107.4 million. The business saw a large increase in profitability with a 44% increase of profit before tax to $37.3 million and a 48% increase of profit after tax to $28.2 million.

The SaaS annual recurring revenue (ARR) figure increased 41% to $155.8 million.

TechnologyOne believes it’s well positioned as the markets it serves are resilient. Its SaaS software solution is mission critical to its markets around the world. Management are expecting to see its SaaS ARR continuing to grow strongly – up more than 35% over the full year. It’s expecting profit before tax to be up between 10% to 15% for the full year.

Over the long-term the company is expecting to grow penetration with existing customers, win over new customers and expand globally.

In the next few financial years, the ASX 200 tech share’s SaaS and continuing business is expected to grow by more than 15% per annum, once it has wound down its legacy licence fee business.

It’s expecting total ARR to increase to more than $500 million by FY26, from the current base of $233 million. Unlocking economies of scale with the SaaS software should mean a continuing profit before tax margin improvement to 35%.

The post 2 quality ASX 200 tech shares that might be buys appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 rises, Nuix jumps, REA buys stake of Simpology
• Here are 3 of the most traded ASX 200 shares today
• Top brokers just upgraded these ASX shares to “buy”
• Investors are now buying more index ETFs than ASX shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Rhythm Biosciences Ltd (ASX: RHY) share price is rising following the company’s latest addition to its ColoSTAT clinical trial.

In early morning trade, the medical device company’s shares were up 3.57% to $1.015 before retreating to $1.00 at the time of writing, up 2%.

What did Rhythm announce?

In its statement, Rhythm advised Sonic Healthcare Limited (ASX: SHL) business, Sonic Clinical Services, has joined its ColoSTAT clinical trial.

Rhythm’s ColoSTAT is an experimental test kit that is being trialled as a low-cost, easy-to-use blood test to detect colorectal cancer.

Sonic Clinical Services’ Independent Practitioner Network (IPN) Medical Centres will bring a network of independent clinicians across NSW and Victoria.

IPN is recognised as Australia’s largest network of medical clinics. Currently, the business has more than 2,000 doctors across 160 medical centres nationally, providing 10 million consultations per year.

The first patients from Sonic Clinical Services’ IPN medical centres have already been recruited.

Rhythm CEO Glenn Gilbert said:

We are already working with Sonic Healthcare under an existing partnership for the storage and testing of ColoSTAT blood samples as part of the Study 7 clinical trial.

Expanding this partnership with an additional division, in Sonic Clinical Services’ IPN, is a natural progression that will ultimately contribute to the success of the ColoSTAT clinical trial.

More on ColoSTAT and the Rhythm share price

Rhythm develops and commercialises Australian medical diagnostics technology for sale in domestic and international markets. The company’s ColoSTAT is the first proposed product-in-development intended to accurately test and detect the early stages of colorectal cancer.

It’s estimated around 850,000 people lose their life from colorectal cancer each year.

In the United States, Europe, and Australia, more than 130 million people aged between 50-74 years are unscreened for colorectal cancer. This represents an addressable market opportunity of more than $6.5 billion.

The Rhythm share price has accelerated by 1,300% in the past 12 months, reflecting positive investor sentiment. Additionally, the company’s shares reached an all-time high of $1.675 in March, before some profit-taking swooped.

At today’s prices, Rhythm has a market capitalisation of roughly $205 million, with approximately 202 million shares on issue.

The post Why the Rhythm (ASX:RHY) share price is climbing today appeared first on The Motley Fool Australia.

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• Got cash to invest? Here are 2 ASX shares that could be buys
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Once upon a time, memes were limited to images, gifs, and videos shared on the internet to give us a laugh. But somehow, the stock market fell prey to memeification, so here we are… analysing what a meme stock is.

Defining a meme stock

A meme stock is typically regarded as a stock that lacks fundamental backing and is, more so, driven in popularity by hype. Usually, it is retail investors that drum up support for these stocks using social media channels such as TikTok and Reddit.

Once this type of stock ‘goes viral’, the resulting extreme share price jumps can attract even more investors as the fear of missing out (FOMO) kicks in. This momentum can then lead to a stock price that is divergent from all fundamental measures of analysis. As a result, many commentators see the valuations as humorous – thus, a meme stock is born.

Be warned – meme stocks are not for the faint of heart. The irrational speculation surrounding them is usually paired with violent volatility. Take GameStop Corp (NYSE: GME) for example. The gaming retailer’s stock price increased nearly 25% between 4 June to 9 June. Then it proceeded to fall 27% the very next day.

What’s all the hype about?

Meme stocks really came to prominence with GameStop. What originally began as a WallStreetBets led short-selling squeeze turned into a full retail investor onslaught. Since then, the attention has spread to several stocks that are heavily shorted – including BlackBerry Ltd (NYSE: BB), AMC Entertainment Holdings Inc (NYSE: AMC), and Bed Bath & Beyond Inc (NASDAQ: BBBY).

The reason many are now talking about these types of shares is because of the potential returns. While the risk is extreme, some speculators cannot dismiss the possible gains on offer. For instance, the US-based movie theatre chain AMC Entertainment has returned 2,837% so far this year. While the valuation may look like a joke, for those who managed to achieve them, the returns are certainly no laughing matter.

However, the catch is, to really capture the upside, you must be among the early speculators. Once a stock reaches the late or FOMO phase, it’s often too late. Because of this, many speculators are constantly on the hunt for the next GameStop or AMC…

Foolish takeaway

When it all boils down, meme stocks are extremely high-risk ‘investments’. While they may seem like a joke to some, for those left holding the baby when the momentum swings the other way, it can all end in tears.

The stock market is often full of distractions. The potential ‘get-rich-quick’ investments are often seductive – but unless a company’s fundamentals catch up with its share price, it can very easily all come tumbling down.

Lastly, many experts argue that building wealth via the stock market is best done by utilising the power of compounding. It may not be the most exciting way, but it’s the easiest way to ensure the stock market doesn’t make a meme of your finances.

The post What is a meme stock, and why is everyone talking about them? appeared first on The Motley Fool Australia.

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• GameStop earnings: No sign of a turnaround
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• Here are the US shares ASX investors were buying last week
• Why AMC Entertainment skyrocketed 160.4% in May
• AMC Entertainment (NYSE:AMC) takes meme stock crown, up 95%

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended BlackBerry. The Motley Fool Australia has recommended BlackBerry. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Origin Energy Ltd (ASX: ORG) share price has been among the best performers on the the S&P/ASX 200 Index (ASX: XJO) during the last 30 days.

Since this time last month, the energy company’s shares have risen an impressive 20%.

Why is the Origin share price on fire?

Investors have been buying the company’s shares despite there being no news out of it during the period in question.

However, there has been a lot of broker activity which could be having a positive impact on the Origin share price.

For example, at the start of June, a note out of Macquarie Group Ltd (ASX: MQG) reveals that its analysts believe the worst may be over for the company.

It commented: “The negative earnings cycle appears to be nearing the bottom, with strength in power prices positive to FY 2022 and FY 2023 earnings outlook.”

Macquarie notes that electricity prices have returned to the $50-$60/MWh range in New South Wales and Queensland. In addition, the Brent crude oil price has been improving strongly on demand hopes, recently hitting a two year high of US$74 a barrel.

In light of this, the broker retained its outperform rating and lifted its price target to $4.88.

Is anyone else positive on Origin?

Another leading broker is even more bullish on the Origin share price. Earlier this month, Ord Minnett retained its buy rating and increased its price target on its shares to $5.75.

This price target implies potential upside of 18.5% over the next 12 months excluding dividends. If you include them, the potential return stretches to ~23%.

According to the note, the broker has increased its earnings estimates to reflect higher electricity price forecasts. In addition, based on current spot prices, the broker is expecting its APLNG operation to generate strong free cash flow.

All in all, this makes Origin the broker’s top pick in the sector right now.

The post Why the Origin (ASX:ORG) share price is up 20% in a month appeared first on The Motley Fool Australia.

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• Top brokers name 3 ASX shares to buy next week
• These were the best-performing ASX 200 shares last week
• These 3 shares were the biggest gainers of the ASX 200 this week

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Cryptocurrency is the latest phenomenon in the investing world, but how safe is it really? While some people have made millions buying cryptocurrency, you could easily lose everything.

Even the experts are divided about whether crypto is a good investment or not. Some celebrity billionaires like Elon Musk have promoted cryptocurrencies like Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) on social media, while other investors like Charlie Munger and Warren Buffett have famously voiced their criticism of cryptocurrency.

Cryptocurrency can be incredibly risky — so risky that some would consider it more of a gamble than an investment. And there are a few things you should know before you buy.

1. Investments are long-term, while gambling is short-term

The truth is, cryptocurrency could be either an investment or a gamble, depending on your strategy.

If you’re buying crypto for the sole purpose of trying to get rich overnight, then it falls into gambling territory. But if you truly believe cryptocurrency is the way of the future and will be around for decades to come, then buying it now could be considered more of an investment.

No matter where you choose to invest, it’s best to take a long-term strategic approach. Don’t invest in anything you’re not willing to hold for at least a few years, or ideally decades. Cryptocurrency is extremely volatile in the short term, but if you believe in its future, you could stand to make a lot of money over time if it succeeds.

There are no guarantees that cryptocurrency will succeed over the long run, and you could still lose everything even when taking a long-term approach. But you’re less likely to lose money than if you were to try to time the market to make a quick buck in the short term.

2. Investing is taking calculated risks

Investing will always carry some degree of risk, even if you’re investing in relatively safe places. But becoming a successful investor involves taking calculated and educated risks, and the same is true when it comes to cryptocurrency.

If you put your life savings behind cryptocurrency, that’s definitely a gamble. But there are ways to invest in cryptocurrency in a more calculated and safer way.

First, make sure your financial situation is healthy and you’re only investing money you can afford to lose. Next, double-check that your portfolio is properly diversified. If you’re adding crypto to the mix, you’ll want to be sure the rest of your investments are as strong and stable as possible. Then if crypto does fail, it won’t take the rest of your portfolio down with it.

By being strategic and careful about how you invest in cryptocurrency, it’s possible to reduce your risk.

3. Where you invest matters

Cryptocurrency, in general, is risky. But some cryptocurrencies are more dangerous than others, and choosing the wrong one could be a gamble.

While cryptocurrencies may be very different from stocks, you can still research them in much the same way you would other investments. With stocks, it’s important to look at a company’s underlying fundamentals to determine whether it’s likely to grow over time. The same is true for cryptocurrencies.

As you’re researching different types of cryptocurrencies, ask yourself a few questions. Does this particular cryptocurrency have any real-world utility right now? If not, how likely is it to become mainstream in the future? Does it have any advantages over its competitors? If new cryptocurrencies come along, how likely is it that this one will retain its advantages?

If you’re choosing cryptocurrencies based on how trendy they are or how much their price has increased, that’s more similar to gambling. But if you do your research and are buying the cryptocurrency you believe is the strongest, then it’s more of an investment.

Should you invest in cryptocurrency?

Right now, cryptocurrency is still a highly speculative investment, and nobody knows where it will go. Unlike stocks, cryptocurrencies don’t have a long track record. And no matter how much you try to reduce your risk, there’s still a good chance you could lose money. If you’re a risk-averse investor, it may be best to steer clear of cryptocurrency for now.

But if you’ve decided you want to invest in crypto, the best thing you can do is research your options, prepare your portfolio accordingly, and hold onto your investment for the long term. You can’t eliminate risk entirely, but the more you prepare, the better off you’ll be.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Is cryptocurrency investing or gambling? 3 things you need to know appeared first on The Motley Fool Australia.

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Katie Brockman has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Douugh Ltd (ASX: DOU) shares are surging in early morning trade after the release of its Goodments by Douugh investing app in the Australian market. At the time of writing, the Douugh share price is up 9%, trading at 12 cents after touching an intraday high of 13 cents near the market open.

Let’s see why this investing app is boosting the Douugh share price following its launch in Australia.

Douugh launches free investing app in Australia

The software company is looking to leverage the record number of millennials entering the share market.

Douugh acquired the wealth management app Goodments for $1.5 million in February.

Goodments operates in Australia with more than 13,000 customers in its database. The company’s wealth management app includes features that allow customers to invest in custom-built portfolios and fractionalised single shares.

Goodments by Douugh will retain the same features, providing Australian investors with brokerage-free trading in US shares and exchange-traded funds with as little as one dollar.

Douugh says that today’s launch is a precursor to its flagship banking app launching in Australia early next year. The company says that there are currently more than 10,000 Australians now signed up to its waitlist.

The company’s banking app has already launched in the United States, with strong momentum building for the platform. Douugh reported its first full quarter performance in the US, revealing a 259% increase in customers from 3,033 in December to 10,877 by the end of March.

What did management say?

Douugh Founder and CEO Andy Taylor commented on the recent millennial investing trend:

Young people realise buying property is becoming increasingly difficult, so they are turning to shares to make their money work harder and save to secure their futures.

Cryptocurrencies have also created interest in the younger generation, who want to invest with a long term strategy.

It’s driving demand for wealth creation platforms like Goodments to simplify buying and selling shares, making it easy to get involved, easy to use and low cost. All the while being able to get exposure to the biggest global disruptive brands they know and love that are changing the world.

Douugh share price in 2021

The Douugh share price is down about 26% year to date. The company’s shares are still trying to stabilise after surging as much as ~1,600% last year from a listing price of 3 cents to as high as 49 cents.

The post Douugh (ASX:DOU) share price surges 9% after app launch appeared first on The Motley Fool Australia.

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Kerry Sun has no position in any of the stocks mentioned.  The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Bank of Queensland Limited (ASX: BOQ)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $10.00 price target on this regional bank’s shares. The broker notes that Bank of Queensland plans to make a collective provision release of $75 million thanks to Australia’s improving economy. This was more than the broker was expecting, which it notes means there is upside risk to its earnings estimates this year. Outside this, it likes the bank due to the solid operating environment and its strong franchise performance. The Bank of Queensland share price is trading at $8.90 today.

Coles Group Ltd (ASX: COL)

A note out of Macquarie reveals that its analysts have upgraded this supermarket operator’s shares to an outperform rating with an improved price target of $18.20. Macquarie made the move on valuation grounds and its preference for exposure to consumer staples. It also believes Coles will benefit from the normalisation of shopping trends post-pandemic. The Coles share price is currently fetching $17.01.

SEEK Limited (ASX: SEK)

Another note out of Macquarie reveals that its analysts have upgraded this job listings company’s shares to an outperform rating with an improved price target of $40.00. The broker made the move on the belief that SEEK is going to benefit from a significant increase in yields. It believes the removal of discounts will lead to a 9% yield tailwind. Macquarie is also expecting the Australian unemployment rate falling from 5.5% to closer to 4% during 2023, underpinning a 25% increase in ad volumes in FY 2022. The SEEK share price is trading at $32.78 this morning.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Sandfire Resources Ltd (ASX: SFR) share price is tumbling in morning trade, down 4%.

Below we take a look at the ASX copper share’s latest resource update.

What resource update did Sandfire announce?

The Sandfire share price is moving lower after the company updated the market on its Ore Reserve and Mineral Resource for its DeGrussa Operations, located in Western Australia.

The DeGrussa Operations encompass the DeGrussa Copper-Gold Mine (DeGrussa Mine) and the Monty Copper-Gold Mine (Monty Mine).

The company said grade control drilling completed in 2020 provided the basis for its updated interpretation of the orebody and the Mineral Resource estimate. Based on that updated Mineral Resource, the Monty Ore Reserve decreased 0.4Mt and 28kt of contained copper and 22koz of contained gold year-on-year.

Sandfire reported its DeGrussa Ore Reserve was reduced by roughly 1.2Mt and 49kt of contained copper year-on-year – mostly due to annual mining depletion.

Commenting on the updated DeGrussa and Monty Ore Reserve, Sandfire’s Managing Director, Karl Simich said:

Based on current mining and processing rates, the current Ore Reserves at DeGrussa and Monty will allow high-grade, low-cost copper production to continue at full pace right through to the September Quarter of 2022.

Based on current mining and processing rates, the current Ore Reserves at DeGrussa and Monty will allow high-grade, low-cost copper production to continue at full pace right through to the September Quarter of 2022.

Simich added that DeGrussa will produce at capacity right up until the company completes construction and gets ready to start operations at its new Motheo Project in Botswana. That’s expected to happen in early 2023.

And Sandfire isn’t throwing in the towel on DeGrussa. Simich said, “We are also maintaining a significant exploration push across our extensive tenement holdings surrounding the DeGrussa and Monty Mines with extensive programs of AC, RC and diamond drilling underway.”

Sandfire share price snapshot

Sandfire Resources has widely outperformed the market over the past 12 months, with shares up 45% compared to a gain of 24% on the S&P/ASX 200 Index (ASX: XJO).

Buoyed by soaring copper prices, the Sandfire share price has continued to gain strongly in 2021, up 30% year-to-date.

The post Why the Sandfire (ASX:SFR) share price is tumbling today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Bellevue Gold Ltd (ASX: BGL) share price is on the charge on Wednesday morning.

In early trade, the gold explorer’s shares are up 5% to 87.5 cents.

This gain has reduced the Bellevue Gold share price year to date decline to 25%.

Why is the Bellevue Gold share price charging higher today?

Investors have been bidding the Bellevue Gold share price higher today following the release of an update on drilling at the Bellevue Gold Project in Western Australia.

According to the release, the company has reported a host of strong grade control drilling results which it believes demonstrates the continuity of the high-grade mineralisation at the project. It also feels that it reinforces the robustness of the resource within the planned open pit development.

The release notes that the grade control drilling program at the Tribune lode was conducted on a 10m x 10m grid and returned intersections grading up to 176.6g per tonne.

Bellevue Gold’s Managing Director, Steve Parsons, commented: “These results provide more firm evidence that not only is the Bellevue mineralisation exceptionally high grade, but it also exhibits strong continuity. Whilst expected, the continuity is highly valuable because it helps underpin the de-risking and the successful development of the project.”

What now?

Bellevue Gold advised that it now has two rigs exclusively drilling grade control at Tribune. One of these is dedicated to the open pit areas and the other to the early underground development areas.

At the same time, step-out and infill drilling is ongoing at both the Marceline and Deacon North lodes.

The company will continue to maintain its strategy of de-risking the project through underground development, underground drilling, and grade control drilling. It will also continue resource growth drilling from both surface and underground to seek to grow the global resources and reserves.

But as things stand, it currently estimates that it has a total mineral resource of 8.55Mt at a grade of 9.9g per tonne.

The post Here’s why the Bellevue Gold (ASX:BGL) share price is charging 5% higher appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

That cool smart device on your wrist will soon become even more attractive and useful, at least if you intend to acquire one of the latest model Apple (NASDAQ: AAPL) Watches when they arrive. According to a report published Monday by Bloomberg, citing “people with knowledge of the plans,” Apple is planning a host of updates and upgrades to its signature wearable tech product.

Later this year, those sources say, Apple will upgrade the device with a faster processor and an updated screen. The new model should also feature better connectivity, as it will utilize the same ultrawideband functionality that is a core feature of Apple’s recently introduced AirTags.

Based on the company’s naming convention, this next iteration of the device will likely be dubbed the Apple Watch Series 7.

In 2022, the tech giant will again update the Apple Watch, in addition to the comparatively budget Apple Watch SE. More intriguingly, the company plans a new wearable aimed at extreme sports athletes. 

Apparently, Apple would also like to integrate new services and features into future Apple Watches, among them blood sugar sensors and body temperature gauges.

Apple, typically a rather tight-lipped company, has not yet commented on the Bloomberg article.

While smartwatches and fitness trackers are dime-a-dozen technology these days, Apple aims to stand out from the crowd by packing added features into the Apple Watch. Bloomberg pointed out that blood sugar monitoring would make the device unique in its increasingly crowded field.

Apple’s stock did well on Monday, climbing 2.5% against an essentially flat performance from the S&P 500 index.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Report: Apple planning upgrades, updates for Apple Watch appeared first on The Motley Fool Australia.

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Eric Volkman owns shares of Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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