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Because the market is expected to remain volatile, we think it could be wise to invest in quality large-cap tech stocks. That’s because large-cap stocks are known for withstanding market volatility and delivering stable returns, and the technology industry is showing much promise with the ongoing digital transformation across several industries. Because the demand for the internet of things (IoT) and artificial intelligence (AI)-based solutions, among other advanced technologies, is expected to continue rising, the tech industry is well-positioned to grow. According to Statista, there were 4.66 billion active internet users worldwide as of January 2021, representing 59.5% of the global population. This number is expected to rise further, which could lead to increasing demand for advanced technological solutions.
So, we think it could be wise to bet on fundamentally sound large-cap tech stocks Broadcom Inc. (AVGO), SAP SE (DE:SAPG) (SAP), and QUALCOMM (QCOM) to capitalize on the industry tailwinds. Our POWR Ratings system has rated each of these stocks as Strong Buy.
