When prices decline, buy more of these tech stocks.
In the tech sector, all of these are well-known brands that make sense to purchase at any downturn.
Despite the market retreat, Meta Platforms (META) saw strong growth in revenue and net income.
Microsoft (MSFT): The massive corporation is still growing into other areas, including artificial intelligence.
Amazon (AMZN): Amazon’s business model includes a number of growing segments.
Get Elon Musk’s AI provider instead of Nvidia. This AI stock might be the hottest of 2024.
When making large purchases of tech stocks, some investors hold off until there are corrections and crashes. Investors who wait this long risk missing out on excellent opportunities, but in the event that the market declines in value, it’s critical to know which investments to keep in check.
Technology companies have long been dependable long-term investments, and the majority of indices and funds are filled with a wealth of tech companies. Some tech stocks are better to purchase than others, though.
Investing in these stocks at their current attractively discounted price could make sense if you see that they keep falling.
A device screen displays the Meta Platforms (META) stock logo, revealing a small company in Maryland that has the potential to become the next big thing in Nvidia. Facebook now does business under the name Meta.
Blue Planet Studios via Shutterstock.com
Without a wider market meltdown, you might be able to get a fantastic deal on this stock. The company’s most recent earnings report caused investors to sell off their shares. The first quarter of 2024 saw a 27% increase in revenue and a 117% increase in net income for Meta Platforms (NASDAQ:META).
It projects revenue in the second quarter of 2024 to range from $36.5 billion to $39 billion. With the company’s $32 billion in revenue for the second quarter of 2023, this guidance points to a 14% to 22% year-over-year growth rate.
The stock currently yields a 0.45% dividend and trades at a respectable P/E ratio of 25.5. The stock is barely holding onto its $1 trillion market capitalization. Even with a strong earnings report, more declines could bring the stock lower. Although the guidance may not have pleased investors as much, the META stock appears to have further upside potential based on its strong revenue growth and rapid net income growth.
Greater than PayPal, SpaceX, and Tesla COMBOUND
Three of Elon Musk’s greatest inventions are Tesla, SpaceX, and PayPal.
However, the majority of people are unaware that Musk just turned on a brand-new innovation that has the potential to surpass the combined market capitalization of SpaceX, PayPal, and Tesla.
Google’s CEO even went so far as to say that this innovation’s fundamentals are “more profound than fire, electricity, or the internet.”
Kindle (AMZN)
a picture of the Amazon (AMZN) emblem on a structure’s exterior.
Ioan Panaite via Shutterstock.com
Microsoft and Amazon (NASDAQ:AMZN) are comparable in certain aspects. The business is well-rounded and a pioneer in cloud computing and e-commerce. Its revenue growth is also attributed to the grocery, streaming, and advertising sectors.
With a 14% year-over-year increase in sales during the fourth quarter of 2023, Amazon concluded its operations. With both domestic and foreign sales experiencing double-digit growth rates, revenue hit a record-breaking $170 billion.
The stock is up 80% over the last year and has gained 21% so far this year. The stock has been rated as a “strong buy” by analysts who are feeling upbeat about it. There is an estimated 18% upside for the stock from its current levels.
With its new delivery initiative, Amazon hopes to increase its market share in the grocery sector. EBT recipients would only pay $4.99 per month, while Prime members would pay an extra $9.99 for unlimited grocery delivery services.
The initiative ought to boost order volume and establish Amazon as the preferred option for more customers. Amazon gains market share in a number of industries in a manner similar to this new offering. This stock is appealing in the long run and will appear even more appealing during any downturn.