This High-Yield Dividend Stock Could Have 24% Upside in 2023, According to Wall Street
Tech stocks have been hit hard in 2022 for a number of reasons, including soaring interest rates and fears of a recession. This is why the Nasdaq Composite has plunged 34% year to date.
Down 42% in 2022, shares of the data center real estate investment trust (REIT) known as Digital Realty Trust (NYSE: DLR) have been lumped into the tech sell-off. This has arguably led the stock to be a no-brainer buy for both income investors and value investors. Let's examine Digital Realty's fundamentals and valuation to better understand why.
Individuals today now have access to computers (i.e., smartphones and laptops) that are more powerful than the supercomputers of just a few decades ago. And this is all made possible by data centers. Data centers process and store data and connect devices. Without this digital infrastructure, it would be impossible for all of us to play games, text, read articles like this one, and check emails.
Source Fool.com
