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Companies are investing substantially in tech upgrades to keep pace with a growing digitization trend. “Technology spending is entering a new build budget phase,” according to John-David Lovelock, distinguished research vice president at Gartner (NYSE:IT). In addition, Forrester revised up its U.S. Tech market outlook for 2021. The organization forecasts the U.S. tech market will expand 7.4% in 2021, up from its previous 6% estimate.
Given the industry’s solid growth prospects, Wall Street analysts expect tech stocks Celestica Inc . (CLS) and Lantronix, Inc. (LTRX), which are trading at less than$10, to rally by more than 25% soon.
