Is Now the Time to Buy Tech Stocks?

Tech stocks have been hammered in the recent market turmoil, but these three technology giants now look undervalued

Vikram Barhat 19 March, 2020 | 12:23AM

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The stock market carnage in February, which saw the US stock market plunge more than 3000 points, continues to fuel uncertainty in March. The ongoing sell-off triggered by fears over the spread of the coronavirus has clobbered stocks across sectors and geographies.

As fear and uncertainty roil equity markets, companies in the US tech sector with substantial revenue exposure to China have been hit the hardest. The Morningstar US Technology Index has fallen 2.5% for the year to date (expressed in US dollars) while the S&P Technology Select Sector Index gave up 2.2% for the same period, as of March 3.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Vikram Barhat  is a Toronto-based financial writer specialising in investing, stock markets, personal finance and other areas of the financial services industry. 

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