3 Tech Dividend Stocks to Buy for 2021
What better way to end a most forgettable year than to purchase some stocks that will pay you dividends? In fact, Broadcom (NASDAQ: AVGO), Orange SA (NYSE: ORAN), and Applied Materials (NASDAQ: AMAT) are in tip-top shape, so no matter what may be in store for the stock market in 2021, these companies look like a solid bet on earning some passive income. Here's why our Fool.com contributors think so.
Nicholas Rossolillo (Broadcom): As far as semiconductor stocks go, recessions can be tough times. But COVID-19 induced no ordinary recession. While not all chip stocks were immune to side effects, there was plenty of demand for technology this past year as organizations scrambled to keep their operations moving forward and consumers stocked up on electronics to pass some extra time at home.
For networking gear giant Broadcom, it equated to a pretty good year considering the circumstances. Revenue increased 6% year over year during the company's fiscal 2020, including a 12% jump in Q4 revenue to $6.5 billion. Infrastructure software led the way higher, consisting of Broadcom's acquisition of data center network management outfits Brocade, CA Technologies, and most recently Symantec's Enterprise Security, the remnants of which are now NortonLifeLock (NASDAQ: NLOK). Chip sales were down 1% for the full-year period but were up 6% in Q4, with business from Apple's (NASDAQ: AAPL) iPhone 12 and other 5G mobile applications returning Broadcom's bread-and-butter to growth mode.
Source Fool.com