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Nevertheless, efforts to address a global semiconductor chip shortage and heightened demand for next-generation tech products and solutions have boosted investor interest in this industry. This is evidenced by the iShares U.S. Technology ETF’s (IYW) 8.4% returns over the past month versus the SPDR S&P 500 ETF Trust’s (SPY) 5% gains.
Because major tech stocks trading at expensive valuations may experience a correction amid the market volatility, we think it could be wise to bet on undervalued tech stocks Micron Technology, Inc. (NASDAQ:MU) and VMware, Inc. (VMW) to cash in on the industry’s long-term growth.
