The risks of economic recession are opening new doors for investors – long-term investments in “blue chips”, which are considered the most attractive asset in a bear market.
Despite rising inflation and increased volatility, many investors continue to look for the best investment options to cash in 1, 3, 5 years or more.
That’s why we focus on this month’s top 5 technology stocks that can enter your investment portfolio and improve your trading experience in the current volatile market environment. Because the best investors use bear markets and major periods of panic to start positions in their favorite stocks.
So, let’s explore large-cap technology stocks for investors to consider buying in October at levels that might look like bargains in the not-too-distant future.
QUALCOMM, Incorporated ($QCOM)
💰 Market Capitalization as of October 20th, 2022: $126.73 billion
💰 Current Share Price as of October 20th, 2022: $112.85
California-based QUALCOMM is a leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G technology. Its portfolio includes products for processors, modems, platforms, RF systems, and connectivity, among others.
Since the beginning of the year, this company, like many others, has lost more than a third of its value. However, analysts argue that the revenue and profit fundamentals do not match this.
For example, JPMorgan analyst Samik Chatterjee reiterated his belief in QUALCOMM and maintained an ‘Overweight’ rating and a price target of $185. In addition, as of Q2 2022, 71 of the 895 hedge funds tracked by Insider Monkey were long QUALCOMM, holding shares worth $2.8 billion.
This may indicate good prospects for growth in the value of the $QCOM shares.
NVIDIA Corporation ($NVDA)
💰 Market Capitalization as of October 20th, 2022: $300.07 billion
💰 Current Share Price as of October 20th, 2022: $120.51
California-based NVIDIA Corporation is a technology company focused on the design and manufacturing of accelerated computing hardware and software products. Its core businesses comprise Gaming, Data Center, Professional Visualization, and Automotive, with Gaming and Data Center making up for more than 80% of its revenues.
Even though Nvidia Corporation shares were down 58.94% year-to-date as of October 10, Citi analyst Atif Malik has an average price target of $196.75.
In addition, the company’s shares are subject to bullish sentiment from many hedge funds as 84 of the 895 hedge funds held its shares as of Q2 2022.
Advanced Micro Devices, Inc. ($AMD)
💰 Market Capitalization as of October 20th, 2022: $92.39 billion
💰 Current Share Price as of October 20th, 2022: $57.23
Based in Santa Clara, California, Advanced Micro Devices is a global semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing solutions for cloud, edge, and end devices.
In August, AMD released its financial results for the quarter ended June 25, 2022. Its revenues increased by 70% y-o-y to $6.6 billion. Despite this, AMD shares have lost 59.39% of their value year-to-date.
However, the company’s products continue to be in growing demand, so analysts consider the current decline in the share price to be unjustified.
Adobe Inc. ($ADBE)
💰 Market Capitalization as of October 20th, 2022: $139.39 billion
💰 Current Share Price as of October 20th, 2022: $299.83
Adobe Inc. is a digital media and digital marketing solutions company based in California.
In September, Adobe released its financial results for the quarter ended September 2, 2022. Its total revenue increased by 13% y-o-y to $4.4 billion. The company also generated a normalized EPS of $3.40 for the quarter, exceeding the analyst estimates by $0.06.
However, the value of the shares has not yet risen proportionally to the company’s fundamentals. Therefore, there is still a chance that Adobe stock will rally with renewed power in some time.
Microsoft Corporation ($MSFT)
💰 Market Capitalization as of October 20th, 2022: $1.76 trillion
💰 Current Share Price as of October 20th, 2022: $236.48
Washington-based Microsoft Corporation is a leading technology company with products include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.
Microsoft’s shares have lost 30.35% of their value on a year-to-date basis. But the majority of analysts are bullish about the prospects of $MSFT as they hold an average price target of $331.47, 46% higher than the current price.
Summary
- The risks of economic recession are opening new doors for investors – long-term investments in “blue chips”.
- Some of the best investors use bear markets and major periods of panic to start positions in their favorite stocks.
- NAGA provides an enhanced investment and trading experience through intuitive management and advanced trading tools.
All the stocks described here, as well as many other assets, are available as CFDs and Real Stocks on NAGA!
Accordingly, you can examine these technology assets and use them in your trading or investment strategy if it meets your expectations.
