Three Tech Stocks You Should Consider Buying Now

Tech stocks have been on a tear recently. Although the sector saw some pretty wild fluctuations in 2018, it has still outpaced the S&P 500 over the last decade. Many analysts believe this year’s strong performance may signal the potential for even more long-term growth. Here are three tech stocks that may be worth watching going forward.

Microsoft
The company was out of favor with many investors over the past several years. However, Microsoft is back in a big way. In early 2019, it was the only company with a $1 trillion market cap. Investors believe it still has room to grow. The company has put itself in a position to dominate AI and machine learning, and it now devotes most of its resources to this rapidly advancing technology.

Micron
Micron is an undervalued company, which is good news for value investors. This memory-chip maker is ready for a big comeback after the company suffered a recent downturn. Many tech investors consider Micron a strong buy. Most of the company’s struggles stemmed from the U.S. government’s squabble over trade with China. Once the two countries agree on a trade deal, Micron should see stronger free cash flow. Investors point to the company trading at a very low 5.6 times earnings.

Paypal
As the leader in alternative banking and finance, PayPal remains a dominant force in the tech sector. The company’s model focuses on both merchants and consumers, which gives PayPal almost full control over the ever-popular customer experience. PayPal is also in a unique position to “democratize” banking and finance. The company hopes its growing presence will open the doors to underserved populations with little to no banking options. Estimates show that the number is well over 2 billion people worldwide. Some analysts speculate Paypal could see 20 percent earnings growth over the next decade.

Honorable Mention
Apple remains one of the most dominant companies in the world, so why would anyone bet against the company? In early 2004, Apple’s stock was worth just south of $4 per share. Today, the company has a market cap of $900 billion. Many millionaires can thank Apple for their healthy investment portfolios. Who is to say the stock will not double, or even triple, over the next decade?
Originally posted on KyleDennis.co.

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