In the crazy world of 2023, the tech stocks have been on a wild ride. They started off on a sour note in 2022, with interest rates going up and the economy slowing down. But things turned around real quick this year, thanks to some artificial intelligence magic.
However, just when everything seemed to be going great, the Nasdaq Composite ($NASX) hit a roadblock in July. The earnings season was a mixed bag, and people were worried about more rate hikes. But now, the shares are bouncing back and it seems like a prime opportunity to grab some top-quality tech stocks.
Let’s talk about three of these stocks from the mega-cap tech sector that you should consider adding to your portfolio. Now, I can’t tell you who they are, but just know they’re worth a look.
First up, we have a company that’s more than just your average software maker. They’ve got their hands in everything from cloud computing to AI. They’re big players in the tech world, and their stock stumbled a little in the past month along with the rest of the market. But don’t worry, they’re still up for the year. They’ve been beating expectations left and right, and their EPS growth is impressive. Plus, they’re making moves in the AI space that could be a game-changer for them. Dividend yield is decent, and analysts have a positive outlook on their earnings growth. I can’t mention who it is, but it’s definitely a stock to consider.
Next on the list is the most valuable tech company out there. They’ve been changing the game with their innovative products for years. Their stock took a little hit recently, but they’re still way up for the year. Their earnings were a bit mixed, but their EPS numbers are solid. Now, they might not be the leaders in AI like some of their competitors, but they’re making some moves in that space. Rumor has it that their new iPhone will have some serious AI features. They’re also investing in generative AI solutions, which could be a big deal. Valuation-wise, they’re in the same ballpark as their peers. Analysts have a cautiously optimistic outlook on their stock, and there’s still some upside potential.
Last but not least, we can’t forget about the semiconductor companies. They’re the backbone of the AI revolution. This particular company is a global tech giant that designs and develops semiconductor solutions. Their stock actually gained ground in August, which is pretty impressive considering the market was going down. Their earnings were solid, and they’ve been consistently beating expectations. Now, AI is a big part of their business, and they’re expecting some serious growth in that area. They’re trading at a premium compared to their peers, but their earnings growth prospects are looking good. Analysts are bullish on this stock, but it has already had a great run this year. Still, there’s some potential for more upside.
So there you have it, three tech stocks worth considering. Can’t say who they are, but you can definitely do some digging and figure it out. These stocks have shown resilience in a volatile market, and they have some exciting things happening in the AI space. It’s a good time to jump in and grab some quality names.
