3 Top Tech Stocks to Buy Ahead of Earnings
The stock market has seemingly lost all sight of long-term potential for growth businesses lately. Inflation, rising interest rates, a slowdown in consumer spending, and war in Europe have crowded out financial results, and many stocks have been punished.
Such events as this tee up fantastic buying opportunities for investors who can block out the noise and focus on business earnings. With quarterly reports on tap in the coming weeks, three Fool.com contributors think Meta Platforms (NASDAQ: META), NXP Semiconductor (NASDAQ: NXPI), and Qualcomm (NASDAQ: QCOM) are buys right now. Here's why.
Billy Duberstein (Meta Platforms): While I don't know what Meta's stock will do after earnings, I do know that it's very cheap on its trailing financial measures, and there's a lot of pessimism in the stock. Revenue growth has slowed due to privacy changes and general ad slowdown. CEO Mark Zuckerberg said Meta was facing "one of the worst downturns in recent history," and would be looking to prioritize "more ruthlessly." Topping things off, the company is losing a key executive in former COO Sheryl Sandberg.
Source Fool.com
