4 top tech stocks to add to your portfolio
© Reuters. 4 top tech stocks to add to your portfolio
Investors’ departure from technology stocks is likely to be short-lived due to the undiminished demand for advanced technology products and services. Because of this, we hold some of the biggest names in the tech industry, particularly Intel (INTC), International Business Machines Corporation (NYSE :), Panasonic (OTC :), and Canon (CAJ), at their current price levels for solid bets. Read on for an explanation. The digital transformation of businesses during the COVID-19 pandemic has led the tech sector to a rocket-like rally over the past year. This is evidenced by the 41.8% return on the iShares Global Tech ETF (IXN) in 2020. However, the economic rebound this year has motivated investors to bail out expensive tech stocks for the benefit of post-pandemic winners. This has resulted in a sell-off of technology stocks.
The introduction of hybrid working models by many companies during the pandemic coupled with the enormous demand for cloud services, cybersecurity and connected devices and sensors, as well as the increasing interest and increasing investments in 5G technology and artificial intelligence (AI) let analysts do so predict the global information technology market will reach $ 11.87 trillion by 2025, an annual growth rate of 9%.
Given this prospect, we believe that Intel Corporation (NASDAQ :), International Business Machines Corporation ( IBM ), Panasonic Corporation (PCRFY) and Canon, Inc. (CAJ) are well positioned to generate solid returns over the coming months.
Read on on StockNews
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