3 Best Tech Stocks to Buy on the Rebound

Last week’s tech dip is a great buying opportunity…

This story was originally published here.

When you run a marathon, it's better to focus on the finish line rather than each breath or stride. That was the first thing that came to mind last week as the tech-heavy Nasdaq dropped roughly 7% and Apple saw $180 billion erased from its market valuation on Thursday, the most any U.S. company has ever lost in a single trading day.

Focusing on the finish line is important not just in sports but also in the stock market. While the tech sell-off hammered markets over the last week, it is important to look at the bigger picture and look at the move as a healthy pullback for a bull market.

This is temporary, but the best tech stocks will continue to rise long into the future.

Remember, this is a marathon, not a sprint. Just look at Tesla Inc. (NASDAQ: TSLA). Its stock dropped by almost 50% in 2018-2019, and in 2020, it had a similar drop. But if you would have held on for the ride instead of selling in the downturn, you would be up over 500% today.

The same could also be said for semiconductor company Nvidia Corp. (NASDAQ: NVDA). It saw an over 50% drop at the end of 2019 and then in 2020 dropped 30%. But if you held on through the drops and even bought right at the previous peak, you would still be up over 70%. Going out even further, you could be up 10,000% and 30,000% respectively. Those are some big gains anyone would be crazy not to want.

That is why it is important to look at the bigger picture. The Nasdaq is still up roughly 60% from its lows in March and 10% above the peak before the pandemic. This comes at a point when the economy is still far from recovered and there is an unemployment rate of 8.4%.

So, when I see pullbacks like this, I go back to tried and true companies that survive these market conditions and have the fundamentals to move higher.

And to help you do just that, I've keyed in on three of the best tech stocks you can buy. These companies will be stalwarts of your portfolio for decades, and they just happen to be “on sale” thanks to sellers with a short-term view of the world…

Editor's Note: Click here to keep reading.

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