Investors waiting for a "crash" before investing more are finally getting the action they were waiting for. Many fast-growing tech company stocks are down by double-digit percentages in recent weeks after reporting fourth-quarter 2020 earnings. Tech's run is far from over, though, as the economy enters a new digital era. Three Fool.com contributors think Teladoc Health (NYSE: TDOC) , Fastly (NYSE: FSLY) , and Lam Research (NASDAQ: LRCX) are great buys after the tech stock "crash." Here's why.
Nicholas Rossolillo (Teladoc Health): I've been a Teladoc shareholder for years, and "buy the dip" has worked wonders over that stretch of time. This most recent bout of volatility -- shares are down over 25% from all-time highs briefly registered in mid-February -- looks like one of the best times yet to buy more shares of the leader in telemedicine.
Teladoc said its revenue increased 145% year over year in Q4 2020 to $383 million, bringing its full-year total to $1.09 billion -- a 94% increase over 2019. Virtual visits with a healthcare professional turned into an instant staple during the pandemic, and Teladoc was the biggest beneficiary of the development. Its platform facilitated 10.6 million virtual visits last year, up 156%. And resulting adjusted EBITDA was $127 million for the year compared to just $31.8 million the year prior.
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3 Top Buys After the Recent Tech Stock "Crash"