4 No-Brainer Tech Stocks to Buy in the Next Market Sell-Off By StockNews

4 No-Brainer Tech Stocks to Buy in the Next Market Sell-Off

Stock MarketsJul 29, 2021 12:30PM ET

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4 No-Brainer Tech Stocks to Buy in the Next Market Sell-Off

Despite many investors’ predictions of a market sell-off triggered by the resurgence of COVID-19 cases and high inflation, the demand for advanced technologies is expected to remain high in the digital era. So, irrespective of the market’s near-term reaction to recent developments, we think it is wise to bet on quality tech stocks STMicroelectronics (STM), HP (HPQ), Canon (CAJ), and Trimble (TRMB) because of their attractive valuations and solid growth prospects. So, let’s discuss these names.Even though the technology industry had one of its best years last year amid the COVID-19 pandemic, investors rotated away from tech stocks earlier this year to cyclical stocks to capitalize on the recovering economy. However, the resurgence of COVID-19 cases due to the rapid spread of the Delta variant has been driving renewed investor interest in the tech stocks.

However, the stock market has been quite volatile of late, with the major indexes falling from their record highs. In addition, the consumer price index increased 5.4% in June. Furthermore, the International Monetary Fund (IMF) has warned that inflation could be persistent. As a result, several investors predict a broad market sell-off in the near term.

But whether or not there is a market sell-off, we think it could be wise to bet on fundamentally strong tech stocks STMicroelectronics N.V. (STM), HP Inc. (NYSE:HPQ), Canon Inc. (CAJ), and Trimble Inc. (TRMB). They are rated Strong Buy or Buy in our POWR Ratings system. In addition, these four stocks possess a combination of solid growth and value attributes.

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