Tech Sell-Off: 2 Unstoppable Stocks Down Over 50% to Buy Right Now
The S&P 500 is currently down 4% from its high, but the S&P 500 Information Technology Index -- which tracks tech stocks in the S&P 500 -- is down 9%. In other words, the tech sector has underperformed the broader market over the last few months. But if you extend the time horizon, that narrative changes.
Broadly speaking, tech stocks have actually beat the S&P 500 over the past one, three, five, and 10 years. In fact, the S&P 500 Information Technology Index is up 470% over the past decade, while the S&P 500 is up just 227%. That data makes a strong case for allocating at least a portion of your portfolio to the tech sector.
With that in mind, shares of Etsy (NASDAQ: ETSY) and DigitalOcean Holdings (NYSE: DOCN) currently trade over 50% below their all-time highs, but both stocks could be smart additions to your portfolio. Here's why.
Source Fool.com
