2 Top Tech Stocks Ready for a Bull Run

Motley Fool2023-06-08

Don't look now, but the Nasdaq bear market may be coming to an end.The tech-centric index is up 26% year to date and has gained more than 30% from its bottom last October. With most economists still ...

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Sha24
2023-06-08
Sha24
Bear market coming to an end? Seriously? please repost this article when FED raise 25 base points in July!

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With most economists still ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/06/07/2-top-tech-stocks-ready-for-a-bull-run/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Top Tech Stocks Ready for a Bull Run</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Top Tech Stocks Ready for a Bull Run\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-08 10:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/06/07/2-top-tech-stocks-ready-for-a-bull-run/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Don't look now, but the Nasdaq bear market may be coming to an end.The tech-centric index is up 26% year to date and has gained more than 30% from its bottom last October. 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With most economists still calling for a recession in the second half of 2023, commentators have been reluctant to declare an end to the bear market.This, however, could very well be the start of a new bull market. If you're looking to capitalize on it, keep reading to see two stocks that are ready for a bull run.1. BroadcomIf you missed out on the Nvidia rally, you may want to take a closer look at Broadcom. The semiconductor stock was the rare company in the sector to post revenue growth in the most recent quarter, with its top line up 8% to $8.73 billion. This slightly edged out the consensus.Broadcom also delivered a monster profit margin with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 65%. This was a sign of the company's competitive advantages. That margin expansion helped drive adjusted earnings per share up 37% to $8.15.Chip stocks have rallied on interest in artificial intelligence (AI), and Broadcom seems to be among the winners. CEO Hock Tan said on the earnings call that AI represents 15% of its revenue, up from 10% in 2022, and expects that to reach more than 25% of semiconductor revenue by fiscal 2024.While Nvidia dominates the market for graphics processing units (GPUs) for data centers and gaming, Broadcom has a different focus -- supplying chips for networking, wireless communication, storage, and industrial applications.Broadcom, which has a long track record of delivering outsized returns, offers a way to get exposure to the AI boom at a much more reasonable valuation than Nvidia. The chip stock currently trades at a price-to-earnings ratio of 26 and offers a dividend yield of 2.3%, giving investors a good balance of growth and income at a reasonable valuation.2. GitLabGitLab went public in late 2021, and the stock is down sharply from its peak. But after the company did a round of layoffs earlier this year and showed a renewed focus on the business, its stock seems on track for a rebound.GitLab is a DevSecOps platform, providing companies with a self-contained system to allow them to develop and deploy software securely. Security testing is a recommended and easily executed part of every stage in GitLab's software development process. With minimal direct competition in this field, GitLab has been growing quickly as its comprehensive development platform takes market share from so-called point solutions -- programs built to solve a single problem. Management said it sees no competition in about half of its sales pitches, indicating unique value propositions that set them apart from potential competitors such as Microsoft.The stock just soared following its first-quarter earnings report as it beat estimates and raised guidance.GitLab's revenue jumped 45% to $126.9 million, well ahead of the consensus at $117.8 million, a sign that the worst of the tech slowdown could be behind it. The software company is still generating wide losses on a generally accepted accounting principles (GAAP) basis, but its non-GAAP margin narrowed by 17 percentage points to negative 12%. Its adjusted loss per share narrowed from $0.18 to $0.06, ahead of estimates of a $0.14 loss.Like other tech stocks, GitLab is also leveraging the power of AI. It delivered five new AI features in the first quarter and another five in May. CEO Sid Sikbrandij said AI will \"fundamentally change the way that software is developed.\"The company is pursuing an addressable market estimated to be worth roughly $40 billion, and GitLab should deliver strong revenue growth, as the path to get there looks wide open. With the company streamlining its cost base following the layoffs earlier this year, it could report an adjusted profit next year.GitLab stock isn't cheap, but if the company can execute on its growth plan, the stock could easily double or triple from here.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":185011075641352,"gmtCreate":1686207993447,"gmtModify":1686208268070,"author":{"id":"3586678137205729","authorId":"3586678137205729","name":"Sha24","avatar":"https://static.tigerbbs.com/75a9ccb81e58aa044dd9a853b6214bdf","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Bear market coming to an end? Seriously? please repost this article when FED raise 25 base points in July!","listText":"Bear market coming to an end? 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Seriously? please repost this article when FED raise 25 base points in July!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185011075641352","repostId":2341467801,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":44,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2341467801"}