While macroeconomic challenges have severely impacted the tech industry, its long-term prospects remain optimistic. So, we think tech stocks TDK Corporation (TTDKY – Get Rating), Sharp Corporation (SHCAY), and Quantum Corporation (QMCO – Get Rating) could be ideal watchlist additions for value investors.
According to the most recent Gartner, Inc. prediction, worldwide IT spending would hit $4.7 trillion in 2023, a 4.3% increase from 2022.
Moreover, the global need for hardware acceleration is expected to grow at a 51% CAGR until 2033. The increasing usage of numerous data accelerators by a wide range of enterprises is expected to significantly contribute to market growth.
Furthermore, the digital transformation market is expected to increase at a CAGR of 25% to $ 6.50 trillion by 2032. Organizations are using digital transformation to mitigate disruption risks such as corporate rebuilding, market volatility, and geopolitical crises.
Investors’ interest in tech stocks is evident from the iShares U.S. Technology ETF (IYW) 24.4% returns over the past six months.
Let’s delve deeper into the fundamentals of the featured stocks…
Continue reading at STOCKNEWS.com