S - 2 Tech Stocks Down Over 75% to Buy Before a Big Rally
2023-07-28 05:08:00 ET
With the Nasdaq Composite up 35% this year, it's getting harder to find bargains in the tech sector. Unity Software (NYSE: U) stock has rebounded 53% year to date but is still almost 80% off its peak, despite the company reporting significantly higher profits in the last quarter. And SentinelOne (NYSE: S) is another promising option that has yet to join the market's rally. The stock is down 81% from its high, but the company continues to report high revenue growth in the cybersecurity market.
Here's why Unity Software and SentinelOne could be trading at higher share prices in the next year or so as they benefit from the larger rally in tech stocks.
Unity Software is a leading platform for 3D software development. Video game designers, graphics artists, filmmakers, and industrial users rely on Unity's platform. It also offers solutions that help game companies monetize their games. Between 2018 and 2021, Unity's revenue grew nearly three-fold. But slowing growth last year sent the stock down to bargain territory.
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2 Tech Stocks Down Over 75% to Buy Before a Big Rally