2 Buy the Dip Software Stocks for May 2021

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The economic recovery has incentivized investors to focus on outdoor stocks amid the proposed American Jobs plan spending. However, the tech industry is likely to regain momentum soon because most businesses are adopting cost-effective hybrid working models to maximize productivity. Companies have been buying state-of-the-art software to run their operations efficiently from remote locations. According to statistics, global software revenue is expected to grow at a 7.4% CAGR to total a $772.4 billion market by 2025.

Thus, we believe the current tech sell-off has created solid entry opportunities in quality software stocks such as Microsoft Corp (NASDAQ:MSFT) and Cadence Design Systems, Inc. (NASDAQ:CDNS).

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