After an uncharacteristically sluggish performance in 2022, tech stocks have come roaring back to life in 2023. In fact, the Technology Select Sector SPDR ETF (ticker: XLK) has more than doubled the S&P 500’s year-to-date return.
For more than a decade, brief periods of tech sector underperformance have consistently been long-term buying opportunities, and that trend seems to be playing out once again heading into 2024. However, inflation and interest rates remain headwinds for tech earnings in the near term, making stock selection critical. Here are 10 of the best tech stocks to buy today, according to CFRA Research analysts:
| Stock | Implied upside from Dec. 1 close |
| Apple Inc. (AAPL) | 9.8% |
| Microsoft Corp. (MSFT) | 12.1% |
| Nvidia Corp. (NVDA) | 28.3% |
| Broadcom Inc. (AVGO) | 4.8% |
| Adobe Inc. (ADBE) | 1.2% |
| Salesforce Inc. (CRM) | -1.5% |
| Accenture PLC (ACN) | 0.9% |
| Advanced Micro Devices Inc. (AMD) | 3% |
| Cisco Systems Inc. (CSCO) | 13.5% |
| Intuit Inc. (INTU) | -6% |
Apple produces the iPhone, iPad, Apple Watch, Mac computers and other personal computing devices. In addition, its services segment includes its App Store, Apple Music, iCloud and licensing businesses. Analyst Angelo Zino says Apple’s impressive ecosystem, growing addressable market and high customer retention rates make the stock a compelling investment, even at a nearly $3 trillion market capitalization. Zino…
