2023-04-21 06:25:00 ET
Investors are warming back up to tech stocks these days. After slumping in 2022, the Nasdaq Composite Index jumped 16% through mid-April, doubling the rally in the broader S&P 500 .
But there are still some impressive deals to be had among the tech sector, which was hit hard last year. With that prospect in mind, let's look at some standout stocks that are profitable and positioned for growth yet are still priced at a tempting valuation. Read on for some good reasons to buy Adobe (NASDAQ: ADBE) and Garmin (NYSE: GRMN) stocks right now.
Adobe has a lot going for it as a growth stock. Sure, the company's pace of sales growth slowed compared to pandemic peaks in 2021 and 2022. The software-as-a-service (SaaS) giant's first-quarter expansion rate was 13%, after adjusting for currency exchange rate shifts, while revenue grew 17% on that basis a year earlier. And investors are worried about a further slowdown in enterprise-tech spending.
For further details see:
2 Top-Tech Stocks to Buy for the Long Haul