Top Tech Stocks To Buy
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Alibaba is a Chinese technology company that was founded in 1999 by a group that included Jack Ma, a tycoon who largely disappeared from public view over a year ago. Alibaba got its start as an online wholesaler linking manufacturers, distributors and importers and exporters. While it is still largely focused on e-commerce, it has since expanded into tools and services, including web portals, payment transfer and cloud computing. Alibaba shares trade on the New York, Hong Kong and Frankfurt exchanges.
Many tech companies are active in both hardware and software. Alphabet, for example, manufactures devices like phone and home assistants while also offering its Google search engine and a full suite of online productivity tools.
Growth companies boost returns. Buying tech stocks lets investors dial up the risk in their portfolios to increase their returns. While risk certainly cuts both ways, buying fast-growing tech names is a very effective way of boosting returns in a low interest rate environment.
Strong demand from indexing. Tech companies now compose over 20% of the S&P 500 stock market index. With hundreds of billions of dollars pouring into index funds each year, that helps sustain growth for shares of the largest tech companies.
Low dividends. Most technology companies pay minimal dividends. Tech companies in the S&P 500 average a dividend yield under 2%. Many of these companies forego dividends to reinvest in their future growth.
The biggest gains may be over. The biggest tech companies have already experienced explosive growth, and the best time to invest in them may have passed. Investors may be able to achieve higher returns by investing in smaller firms, though that introduces the risk of determining how to pick the biggest winners.
Shifting regulatory environment. Regulators can change the landscape for emerging technologies rapidly when things go wrong. Data breaches, revelations about data collection and other headlines spur regulators to pass new laws and regulations that can impede future tech sector growth.
We decided to look at tech companies that have dropped in value over the last year but could be considered a good investment if the economy turns around. These are all tech giants that are relying on the overall economy to improve this year.
This tech giant had seen shares drop significantly in 2022 due to the usual macroeconomic factors as well as production issues. Apple had to deal with factory issues in China that slowed down the delivery of the newest iPhone. The share price is currently falling as of this writing, and the market cap has dropped below $2 trillion because investors are concerned about the iPhone supply chain disruptions and the reduced demand for the new product.
Despite the popularity of their products, the company saw its shares sliced by half in 2022 as consumer fears over a recession led to many tech companies dropping throughout the year. The company lost revenue due to the issues with the cryptocurrency space. Many analysts feel that Nvidia stock could rebound in 2023 because of the booming cloud-based data center business and the possibility of the gaming industry bouncing back in 2023.
PayPal is still the leader in digital payment processing, and the service is used globally. What makes this tech stock a buy is that the shares have dropped almost 60% while the company has remained a highly profitable business. Even though the present-day issues with inflation and fears of a recession may have hurt volume, the company is in a position to capitalize when the economy rebounds. With a growing buy-now-pay-later program and the addition of cryptocurrency, PayPal, with its customer base of 432 million worldwide, should be a stock to keep an eye on.
As always, these are just tech stocks worth keeping an eye on, and there are no guarantees that any of these stocks will go up in 2023. We recommend that you do your due diligence and to invest accordingly.
Tech stocks delivered an unch