10 Tech Stocks With a Strong Buy Rating Right Now
An ongoing concern in the investment world is identifying the top tech stocks for the year 2024. The tech sector has faced challenges at the beginning of the year, with leading companies such as Apple and Nvidia weighing down the Nasdaq Composite.
As reported by The Wall Street Journal, doubts have arisen about the growth Sustainability of the “Magnificent 7” stocks, leading to speculation that their impressive growth period may be ending. Despite these challenges, Wall Street remains bullish on selected tech sector leaders.
This article presents ten tech stocks that have received a strong buy rating from Wall Street analysts. These companies, often not grabbing headlines, are believed to be capable of weathering the current difficulties and emerging even stronger.
microsoft (NASDAQ: MSFT)
Analysts continue to hold microsoft in high regard, with the company currently garnering 36 buy ratings and a predicted upside potential of nearly 11%.
Transitioning to new tech with Innovation will improve rating on stock market.
nvidia (NASDAQ: NVDA)
As a leader in the 2023 artificial intelligence (AI) rush, Nvidia remains a Wall Street favorite, with 32 buy ratings and an expected upside potential of 21%.
A strong financial position, bolstered by buy ratings, indicates a robust outlook for nvidia moving forward.
Broadcom (NASDAQ: AVGO)
While not as favored as nvidia, Broadcom still holds promising prospects with 17 buy ratings and a consensus upside potential prediction of around 4%.
The company’s strong position in the chipmaking industry could drive stock performance in the foreseeable future.
Taiwan Semiconductor (NYSE: TSM)
Despite receiving limited analyst coverage, Taiwan Semiconductor holds four buy ratings and an upside potential forecast of approximately 7% on TipRanks, signifying optimistic sentiment.
The companyâs solid performance could lead to sustained positive projections from analysts.
ASML Holding (NASDAQ: ASML)
ASML Holding, known for helping chipmakers worldwide, currently boasts five buy ratings from Wall Street analysts, with a projected upside potential of 12%.
Analyst optimism indicates potential growth opportunities for ASML Holding in the near term.
Adobe (NASDAQ: ADBE)
With a stellar performance in the past two quarters, Adobe’s stock has garnered 24 buy ratings and an expected upside potential of 11%, reflecting optimistic market sentiment.
The robust buy ratings indicate investor confidence in Adobe’s future growth.
Intuit (NASDAQ: INTU)
A leader in Business software, Intuit features 16 buy ratings from Wall Street analysts and an upside potential forecast of 7%, highlighting positive market expectations for the company.
The high number of buy ratings showcases positive investor sentiment surrounding Intuitâs future prospects.
Uber (NYSE: UBER)
Over the past six months, ride-sharing giant Uber has experienced a notable uptick of over 40%. With 36 buy ratings on TipRanks and an upside potential forecast exceeding 4%, investor optimism is evident.
The substantial increase in buy ratings reflects the favorable view of Uberâs growth potential among market participants.
Applied Materials (NASDAQ: AMAT)
Applied Materialsâ recent strides in the semiconductor and automation spaces have propelled its share prices. Currently, the company Features 16 buy ratings, with analysts forecasting an upside potential of 12%.
The positive ratings highlight market belief in the potential for Applied Materialsâ future growth.
Micron technology (NASDAQ: MU)
Despite a challenging start to the year, Micron technology holds 24 buy ratings from Wall Street analysts, along with an upside potential forecast of 16%, indicating positive market sentiment.
The wealth of buy ratings suggests that analysts are optimistic about Micron technology‘s future performance.
In conclusion, despite the challenges facing the tech industry, Wall Street analysts have identified several tech stocks as strong buy ratings, indicating confidence in their future performances. These companies, while not always in the limelight, have demonstrated potential for robust growth and resilience, making them appealing options for investors looking to navigate the tech market.
Source: investorplace
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