(C) Reuters. Take Advantage of the Pullback and Buy These 3 Tech Stocks
The market has seen increased volatility over the past few weeks due to a number of concerns. This has led to steep declines for many tech stocks, providing investors an opportunity to buy on the dip. Qorvo, Inc. (NASDAQ:QRVO), PTC Inc. (NASDAQ:PTC), and Avnet, Inc. (NASDAQ:AVT) are three tech stocks with bright futures that can be bought at attractive prices due to the pullback.From September 2nd through September 21st, the S&P 500 fell 3.6%. While that may not seem like much, remember that the S&P 500 is a broad-based index. Many stocks saw losses that were even higher. Some of the concerns hanging over the market include a potential debt crisis in China as Evergrande Group could potentially default.
Other concerns are the Delta variant’s effect on the economic recovery. In a survey released today, we learned that “Business economists are marking down their forecasts for US growth this year.” We also have to contend with worries over a failure to raise the debt ceiling. While there is still bearish sentiment, this provides an opportunity to buy stocks on a pullback.
While cases are still high, it looks like the Delta variant may be peaking. So, while economic predictions are down for 2021, business growth should accelerate next year. That’s why investors should consider investing in technology stocks that saw losses recently. I screened for stocks rated a Buy or higher in our POWR Ratings system that saw recent losses. Qorvo, Inc. (QRVO), PTC Inc. (PTC), and Avnet, Inc. (AVT) are three intriguing choices from my screen.
Take Advantage of the Pullback and Buy These 3 Tech Stocks
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