The rapidly evolving tech sector is expected to witness significant growth in the long term. Therefore, investors could look to buy fundamentally strong tech stocks TDK Corporation (TTDKY – Get Rating), Toshiba Corporation (TOSYY – Get Rating), and Quantum Corporation (QMCO – Get Rating).
The tech hardware sector is anticipated to grow owing to innovation and advancement, optimizing the performance of products, making it more widely used in downstream applications. The global IT hardware market is expected to grow by registering a CAGR of 6.1% until 2027.
Moreover, governments are increasing digital investments. According to the latest forecast by Gartner, worldwide government IT spending is projected to total $589.80 billion in 2023, an increase of 7.6% from the past year.
Additionally, investors’ interest in tech stocks is evident from the Technology Select Sector SPDR ETF’s (XLK – Get Rating) 37.9% returns over the past six months.
Given these factors, investors could consider the featured tech stocks. Let’s take a closer look at their fundamentals…
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