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2 Tech Stocks To Buy On Dips

Stock Markets Apr 08, 2021 03:30PM ET
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© Reuters. 2 Tech Stocks To Buy On Dips

Over the last few weeks, tech stocks have sold off. Taylor Dart identifies two that have a good chance of making new highs given strong underlying fundamentals.It’s been a volatile start to the year for the Nasdaq Composite (COMPQ), given that the index started the year up by more than 10% before briefly falling into negative territory for the year in early March. This volatility has taken an outsized toll on growth stocks and many software names, with multiple Nasdaq constituents staring down (-) 20% returns as we begin Q2. Fortunately, this pullback has allowed valuations to improve for some tech names, which looks to be creating a buying opportunity for hyper-growth names with strong business models. In this update, we’ll look at two stocks with a significant lead in their respective industries that are now trading at more reasonable valuations.

(Source: (NASDAQ:AMZN) and (BILL) have very little in common, with one being a mature online retailer & tech company and the other being a large-cap tech company in the software space. However, both companies do share two key traits: exceptional growth & improving earnings trends. In AMZN’s case, the company just came off a massive year with annual EPS growth of 81%, and in’s case, the stock is not yet profitable but had a huge year with revenue growing by 45% despite a challenging year for small businesses due to COVID-19. In fact, both companies flourished in FY2020 while many other names were losing market share, and each company’s ability to adapt and maintain their lead on market share suggests that they have significant growth ahead in the coming years, and their respective growth stories are nowhere near over yet. Let’s take a closer look below:

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2 Tech Stocks To Buy On Dips

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