Editorial StaffTech stocks have come under pressure in recent days. Nonetheless, the Nasdaq 100 Technology Sectorindex has far outperformed the S&P 500index, gaining more than 33% over the past year compared to 26% for the S&P 500 index.
Wall Street enjoyed the explosive demand for enterprise software services, data center expansions, financial technology (fintech) developments and the metaverse hype in the past year.
And industry metrics point toward a continued long-term bull market in tech stocks. According to recent research, consumers should expect several strategic technology trends in 2022. The study highlights creative and disrupting uses of technology in various areas, including cloud platforms, artificial intelligence (AI), distributed enterprise, autonomic systems, decision intelligence, and hyperautomation.
Put another way, potential investors should keep companies in these segments on their radar.
Against this backdrop, here are seven of the best tech stocks to buy for December:
- Affirm (NASDAQ:AFRM)
- AT&T (NYSE:T)
- DigitalOcean (NYSE:DOCN)
- Fortinet (NASDAQ:FTNT)
- ProShares Smart Materials ETF (NYSEARCA:TINT)
- Roku (NASDAQ:ROKU)
- Workiva (NYSE:WK)
These companies in our list have competitive advantages that support their price performances. However, given the recent increase in shares prices, many trade at substantial premiums.
While a high valuation level is often justified due to solid growth prospects, potential investors might want to wait for short-term profit-taking in these names before hitting the ‘buy’ button.
Source: MSN Money
