2 Stocks Poised to Bounce Back from the Nasdaq Tech Sell-Off
Technology stocks are continuing a long downward slide triggered partly by the Federal Reserve's plan to bring inflation levels down from their 40-year highs by raising interest rates and tightening the money supply. Since the start of 2022, the Nasdaq Composite has receded by 28%, and the sell-off will likely proceed until investors can get a clearer picture of the economic outlook.
Periodic stock market corrections are inevitable, and as savvy investors, we should look to take advantage of them when they occur. After all, many great companies are now trading at steep discounts and could generate excellent returns for patient investors over the long run. On that note, here are two tech stocks investors should pounce on right now.
Software giant Microsoft (NASDAQ: MSFT) has fallen by 21% year to date despite its ongoing successes on the operational front. In its fiscal 2022 third quarter, which ended March 31, the company's sales grew 18.4% year over year to $49.4 billion, and its adjusted earnings per share increased by 13.8% to $2.22. That impressive top-line growth was led by its Intelligent Cloud business segment, where revenues soared by 26% to $19.1 billion. The company's GAAP gross profit margin dropped by 36 basis points to 68.4%, but its operating margin expanded by 38 basis points to 41.3%.
Source Fool.com
