7 Tech Stocks Poised for Good Returns as Market Turns

Tech stocks are very popular. They have been performing well in recent years because of the growth of the Internet and technology sectors. But with international geopolitical risks and rising expectations of a global recession, the Nasdaq is down more than 27% year-to-date, and the market’s sharp pullback has brought the valuations of many high-quality technology stocks down to more reasonable levels.


Considering that tech stocks have stronger growth capabilities, they tend to be the biggest beneficiaries of the rally when the market turns around. Some terrific tech stocks are currently trading at bargain prices in the market. The following 7 tech stocks are already oversold and are believed to be expected to yield good returns over time.


Microchip Technology (NASDAQ: MCHP)

Microchip is a leading provider of automated machine parts, IoT devices, and automotive products.


Salesforce (NYSE:CRM)

Salesforce is one of the leading companies in the AI revolution. They have invested heavily in algorithms that can do a wide range of work, including making sense of human languages.



Workday is a software vendor specializing in human capital management, financial management, and work-from-home support.



Netflix is one of the most popular streaming services globally, and it has been growing rapidly in recent years. However, its market value went down rapidly this year.


Microsoft (NASDAQ:MSFT)

Microsoft is an all-weather performer that does well regardless of the state of the economy.



DocuSign is a cloud-based service that allows users to sign documents electronically. It has become the standard way of signing documents because it saves you a lot of time and effort when signing papers securely online.


WiMi Hologram Cloud (NASDAQ:WIMI)

WiMi is the world’s leading holographic cloud platform, a fast-growing company that is capitalizing on the metaverse, a market opportunity worth hundreds of billions of dollars.

Microchip Technology (MCHP)


Microchip Technology (NASDAQ:MCHP) is a highly integrated circuit on a single piece of silicon. You can use it for many things, such as digital circuits, sensors, and actuators.


Microchips are now being used in cars, phones, and computers. They can even be embedded in clothes and shoes that we wear! Its future is bright, but there are a lot of things still need to be improved on before they can be fully implemented into our daily lives.


One of the most important companies supporting this is Microchip Technology. Microchip is a leading provider of automated machine parts, IoT devices, and automotive products. They have set foot in many markets, and their product lines are becoming more diverse every year.


Microchip’s recent quarterly earnings underscored the company’s continued robust performance, with record high revenue, gross margin, and operating profit. Demand for its products continues to exceed supply. It is worth mentioning that its dividend raised over the past four quarters and is expected to increase again. To sum up, the company continues to generate profits for investors, making its stock more lucrative.


Salesforce (CRM)


Salesforce (NYSE:CRM) is a company that provides tools and services to help companies manage their relationships with customers and potential ones. They spare you the hassle of managing customers yourself and grant you the time to develop your own business.


Salesforce has significantly changed the business world. Its software helps companies interact with customers and manage the business process, saving a lot of time, effort, and money.


Salesforce is at present one of the most widely used CRM software globally, and it is constantly innovating to stay ahead of its competition.


In the year thus far, its shares have not done well. And it’s understandable why this is happening. Apart from the wider tech selloff, investors are concerned that work management software will not do well with things opening up. Despite the company’s recent slump, its growth trajectory will quell any worries about their slowing down.


Salesforce forecasts annual sales to top $50 billion in fiscal 2026, which means that the payment is expected to jump by 17.4% over the next four years across different verticals. Therefore, Salesforce is a must when talking about tech stocks these days.


Workday (WDAY)


Workday (NASDAQ:WDAY) is an AI-based software that helps users manage their calendar and tasks. It is a helpful tool for busy people who want to stay productive without the hassle of scheduling or remember when they have to work.


Over 60 million users have downloaded Workday, and it is still growing at a rapid pace. It is user-friendly and has features like automatic reminders and reminders based on location to ensure you never miss a meeting or deadline.


The Workday platform also has a lot of integrations with other tools such as Trello, Slack, Basecamp, Google Calendar, and Outlook to integrate them into your workflow easily.


Organizations can use work management systems to process the shift to a work model that is more resource-efficient and flexible. Software companies are also key players in this arena for providing these tools.


Workday’s revenues for 2020 were $3.627 billion, which is 28.52% more than the previous year. No doubt, this was an excellent year. However, last year wasn’t bad either. Workday’s revenue for 2021 was $5.14 billion and $1.38 billion in Q4. Subscription revenue grew to $1.23 billion in Q4, growing 22% compared to a year ago. Since more companies are adopting a hybrid work model, the company will continue to perform well.


Netflix (NFLX)


Netflix (NASDAQ:NFLX) is the world’s leading Internet TV network. Millions of people in 190 countries enjoy more than 125 million hours of TV shows and movies per day. It includes original series, documentaries, and feature films.


It has been a pioneer in the industry for a long time. They have been producing quality content since 2007 when they released their first TV show called “Lilyhammer.” In 2009, they made their first big move by releasing their first original series called “House of Cards,” which became an instant hit among audiences. This was followed by “Stranger Things” in 2016, which many people still love. Netflix’s success is largely due to its original content, which has won numerous awards like Emmy Awards and Golden Globes Awards.


However, this year is tough for Netflix. The entertainment giant lost 200,000 subscribers during the first three months of 2022, marking a significant downturn. What hurt more is that its biggest rival, Disney, saw its subscriber numbers increase by 11.8 million in its latest quarter.


There are signs of a shakeup, though. Netflix is laying off various employees across the company. The eliminated positions represent less than 2% of the streamer’s total workforce. However, it signals that the company will streamline operations and move forward.


What annoys investors the most is the multibillion-dollar content budget that the streamer keeps increasing every year. If they can cut down that budget, we can expect more positive momentum for the company moving forward.


Microsoft (MSFT)


Microsoft (NASDAQ:MSFT) is one of the world’s largest software companies with the largest market capitalization. Microsoft’s business strategy includes transitioning from an internal hardware-centered sales model to a cloud-first one as it seeks to shift its focus towards digital transformation.


Microsoft is still reporting a double-digit growth despite so many years in business. Revenue is up 18% from last year, and the profit increased 8%. Microsoft made a strong showing on the top and bottom lines, slightly ahead of expectations. This is reflected in their fourth-quarter revenue guidance, which is robust, especially for their three business divisions.


The company has maintained a consistent revenue stream through an ongoing trend of rapid innovation while consistently investing in research and development. Whatever the economic conditions, MSFT does well. Therefore, you can rest easy when investing in this company.

DocuSign (DOCU)


DocuSign (NASDAQ:DOCU) is cloud-based e-signature software that’s becoming the standard for various applications. Over 1 million customers across the world use DocuSign. The company has many different types of tools to help simplify everyday life and allow for the process of doing business to be done more quickly. Despite the headwinds, DocuSign posted a modest top-line beat and in-line profits for Q4 FY 2022.


DocuSign is not just a digital signature tool but a complete suite of tools that includes e-signatures, workflow management, document security, and more. Many companies are moving to remote work models to save time and money. Some experts argue that this model makes employees happier, more productive, and less stressed. Therefore, the company is an important lynchpin in this secular trend.


WiMi Hologram Cloud (WIMI)


WiMi Hologram Cloud (NASDAQ:WIMI) is the world’s leading holographic cloud platform, and has established a relatively complete holographic technology research and development system, holographic content production and reserve system, and holographic commercialization system. Up to now, the company has 195 patents on image processing and display, model input/output, and 3D modeling, 325 software copyrights, and over 4,600 pieces of high quality and high fidelity holographic contents.


WiMi continues to pay attention to R&D investment after a long period of technology accumulation. By now, according to its existing advantages, WiMi already has a leading technology reserve in VR/AR, 5G, artificial intelligence, arithmetic algorithm, digital twin, virtual human and other fields.


According to a research report, China’s metaverse market size is expected to maintain a growth trend from 2022-2027, with the metaverse market size reaching 42.53 billion yuan in 2022 and further reaching 126.35 billion yuan in 2027, with a compound annual growth rate of 32.98% from 2022-2027.


WiMi is capturing a huge opportunity in the metaverse, a market size worth hundreds of billions of dollars, and the company’s revenue numbers continue to trend upward. Thus, while the company is growing, it still has a huge market untapped.

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