University of Kwazulu-Natal

3 Tech Stocks To Buy Now For The Next Bull Market August Edition

Bonisiwe Shabane
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3 tech stocks to buy now for the next bull market august edition

Investing in these tech stocks can be a wise move before the next bull market The tech sector remains a driving force in the global economy, consistently pushing boundaries and shaping the future. So far, in 2024, the sector has experienced a rollercoaster ride. While some companies soared to new highs earlier in the year, recent weeks have witnessed a period of consolidation and correction. The most recent panic selling in early August has created a unique environment for many investors. These market fluctuations present compelling buying opportunities, especially among tech stocks.

Understandably, we must ask which tech stocks are best positioned to capitalize on a potential next bull market. This August edition highlights three compelling tech stocks that could become winners in the next bull market. The current landscape, characterized by risks and rewards, is ripe for strategic investment. Here are three tech stocks to buy now for the next bull market. We start today’s discussion with Genpact (NYSE:G), a stock to consider for the next bull market. The professional services firm offers business and technology services and serves diverse industries such as banking, healthcare and consumer goods in more than 30 countries.

ASML, CrowdStrike, and ServiceNow are still great long-term buys. August generally isn't considered the best time to buy stocks. It lands between May, when many investors "sell in May and go away," and September, which has historically had a pattern of being the worst month of the year for stocks. But the market's common summer swoons -- which can largely be attributed to the behavioral biases of investors -- shouldn't matter to long-term investors. After all, the S&P 500 has still delivered an average annualized return of about 10% since its inception in 1957. So if you don't mind a little near-term volatility, August can still be a great time to add to your portfolio, and ASML (ASML +0.38%), CrowdStrike (CRWD +1.60%), and ServiceNow (NOW +0.58%) are three...

ASML is the world's top supplier of photolithography systems, which are used to optically etch circuit patterns onto silicon wafers. It's also the only producer of extreme ultraviolet (EUV) lithography machines -- the only ones capable of operating at a fine enough level of detail to make today's most advanced, densest, and most power-efficient... ASML's monopoly in that crucial technology makes it a linchpin of the semiconductor sector. All of the world's top foundries -- including TSMC, Samsung, and Intel -- use its EUV systems to manufacture cutting-edge chips. Written by Tezcan Gecgil for InvestorPlace-> InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Wall Street investors are constantly looking for stocks to buy for a bull market. The S&P 500 index has recently reached a new record high, solidifying the bull market that began in October 2022. Notably, the S&P 500 has surged 18% year-to-date (YTD). Similarly, the Dow Jones Industrial Average and Nasdaq 100 have advanced 8% and 21%, respectively. While many companies have benefited from this bull market, a select few have truly stood out by outperforming the broader indices. As we look to the next leg of the bull run, these companies could still deliver remarkable returns for investors.

They are likely to benefit from a favorable landscape of potentially strong earnings growth, declining inflation, and upcoming interest rate cuts. With that information, here are three standout stocks to buy for the next bull market. Source: Charles Knowles / Shutterstock.com The tech sector remains a driving force in the global economy, consistently pushing boundaries and shaping the future. So far, in 2024, the sector has experienced a rollercoaster ride. While some companies soared to new highs earlier in the year, recent weeks have witnessed a period of consolidation and correction.

The most recent panic selling in early August has created a unique environment for many investors. These market fluctuations present compelling buying opportunities, especially among tech stocks. Understandably, we must ask which tech stocks are best positioned to capitalize on a potential next bull market. This August edition highlights three compelling tech stocks that could become winners in the next bull market. The current landscape, characterized by risks and rewards, is ripe for strategic investment. Here are three tech stocks to buy now for the next bull market.

We start today’s discussion with Genpact (NYSE:G), a stock to consider for the next bull market. The professional services firm offers business and technology services and serves diverse industries such as banking, healthcare and consumer goods in more than 30 countries. In its first quarter 2024 earnings report, Genpact announced revenues of $1.13 billion, a 4% increase from last year. Diluted adjusted EPS rose 7% year-over-year (YOY) to $0.73. This strong performance stems from the company’s new “3+1 Execution Framework,” which aims to strengthen partnerships and enhance operational efficiency through artificial intelligence (AI). We should note that Genpact will release its second quarter results on August 8.

ASML has a technological monopoly on a crucial type of chipmaking equipment. CrowdStrike’s cloud-native cybersecurity platform is still expanding. ServiceNow will profit from the growth of the cloud and AI markets. August generally isn't considered the best time to buy stocks. It lands between May, when many investors "sell in May and go away," and September, which has historically had a pattern of being the worst month of the year for stocks. But the market's common summer swoons -- which can largely be attributed to the behavioral biases of investors -- shouldn't matter to long-term investors.

After all, the S&P 500 has still delivered an average annualized return of about 10% since its inception in 1957. So if you don't mind a little near-term volatility, August can still be a great time to add to your portfolio, and ASML (NASDAQ: ASML), CrowdStrike (NASDAQ: CRWD), and ServiceNow (NYSE: NOW) are three... On Wednesday, the Federal Reserve, for the fourth consecutive time, increased the short-term borrowing rate by 75 basis points to a target range of 3.75%-4% to curb the sky-high inflation. Amid the Fed’s relentless fight against inflation, investor sentiments have been hit, and stocks have been pushed to a bear market. The S&P 500 index is down more than 20% this year. In addition, UNCTAD has warned that the world might be on the brink of recession, and the economic adversities could be worse than what was faced during COVID-19 and the financial crisis of 2008.

But on the other hand, the U.S. economy has shown signs of positivity in the third quarter of 2022. GDP increased at an annual rate of 2.6% for the said period after a six-month contraction. This turnaround underscores the economy’s resilience and raises hopes of the stock market recovering. Hence, investors could add fundamentally strong stocks, Microsoft Corporation (MSFT), PepsiCo, Inc. (PEP), and Waste Management, Inc.

(WM), to await an upcoming bull market. Following President Donald Trump's "Liberation Day" tariff announcement, stocks plummeted as fears escalated regarding a potential global trade war and how it could impact the global economy. While there certainly could be more pressure on stocks in the coming weeks depending on how this all plays out, it also has created some solid entry points for several top tech stocks where... Let's look at three bargain tech stocks investors can consider buying now. Being one of the top growth stocks in the past few years has not stopped Nvidia (NVDA +1.01%) from getting thrown into the bargain bin with a lot of other stocks. The stock now trades at a forward price-to-earnings ratio (P/E) of only 23 times based on this year's analyst estimates and a price/earnings-to-growth (PEG) ratio near 0.4.

Stocks with PEGs below 1 are considered undervalued, so Nvidia stock is clearly on the clearance rack. However, the company still has a lot of potential growth in front of it. Its graphic processing units (GPUs) are helping drive the artificial intelligence (AI) revolution and there are no signs a trade war will stop that. Meanwhile, semiconductors are reportedly exempt from the tariffs that have been placed on Taiwan, which is where most are manufactured. As such, this should not slow down the current pace of the AI infrastructure buildout. Nvidia has predicted that data center capital expenditures (capex) will reach $1 trillion by 2028.

This is being led by the three big cloud computing companies, which are rich in cash. Combined, they plan to spend $250 billion in AI infrastructure-related capex this year. At the same time, other tech companies are rushing to build better AI models, while large enterprises are looking toward a hybrid cloud approach to AI.

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