3 High-Volume Tech Stocks to Watch

3 High-Volume Tech Stocks to Watch

Posted On September 1, 2023 9:38 am

Despite contending with considerable macroeconomic challenges, the technology sector has demonstrated a steady recovery. The tech sphere is brimming with opportunities stemming from swift technological assimilation across diversified sectors.

Upon careful analysis, high-volume tech stocks HP Inc. (HPQ – Get Rating) and Dell Technologies Inc. (DELL – Get Rating) appear solid candidates to buy. On the other hand, I believe Apple Inc. (AAPL – Get Rating) should be kept on one’s watchlist for now.

But before we delve into the fundamentals of the stocks listed above, let’s understand the tech sector’s potential.

Technological strides persist in facilitating our lives and making formerly costly or ostensibly unattainable services readily accessible within our homes. It is currently poised for growth stimulated by the swift digital shift enveloping various sectors, including healthcare, automotive, and real estate.

The extensive incorporation of an array of cutting-edge technologies by individuals and businesses, such as Artificial Intelligence (AI), the Internet of Things (IoT), Augmented and Virtual Reality (AR&VR), 5G, and machine learning, is substantially contributing to the expansion of the industry.

AI hardware is swiftly gaining popularity in diverse industries. The widespread use of robotics and AI across various sectors is anticipated to stimulate the demand for the corresponding hardware. Consequently, the global AI in hardware market is projected to exceed $89.22 billion by 2030, marking a CAGR of 26.96%.

The global hardware market is projected to reach $164.21 billion by 2027, growing at a CAGR of 7.9%.

Investors’ interest in tech stocks is evident from the Technology Select Sector SPDR Fund’s (XLK) 41.2% returns year-to-date, which outpaced the broader S&P 500’s 17.6% gain.

The volume of shares traded signifies the quantity of shares exchanged during a specific period. This measure can help in apprehending investor sentiment and liquidity. However, it is advisable to couple it with additional indicators for a more rounded understanding of market activities.

With this foundation, let’s look at the fundamentals of the three high-volume Technology – Hardware stocks, beginning with number 3…

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