2 Must-Have Tech Stocks for the Upcoming Bull Surge
No one can confidently claim to know whether we are currently in a bull market or not -- only time shall tell. However, improving macroeconomic indicators are hinting at a potential bull market surge in the coming months.
According to the preliminary data from the Bureau of Economic Analysis, the U.S. real gross domestic product (real GDP, a measure of inflation-adjusted economic activity) was up at an annual rate of 4.9% in the third quarter (ending Sep. 30, 2023), better than the 4.7% estimate. Additionally, according to the Labor Department's Bureau of Labor Statistics (BLS), the consumer price index (CPI, a metric of inflation) rose year over year by 3.2% for twelve months ending October 2023, slower than the 3.7% rise seen for the 12 months ending September 2023. The cooling inflation hints at a possible end to the Federal Reserve's interest rate hike cycle, which bodes well for the health of the stock market.
Against the backdrop of improving macros, we can expect a significant recovery in ad spending -- which in turn could be beneficial for technology stocks such as Meta Platforms (NASDAQ: META) and Roku (NASDAQ: ROKU). Here's why these stocks are attractive picks in the current market environment.
Source Fool.com
Meta Platforms Inc. Stock
With 10 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 500 € there is a slightly positive potential of 16.55% for Meta Platforms Inc. compared to the current price of 429.0 €.
