The ongoing selloff in the technology industry could be a buying opportunity…
Over the course of 2022, technology stocks have seen their values tumble – driven by inflationary pressures and fears of a recession.
In turn, many Wall Street money managers reduced their holdings in these companies in favor of more defensive plays, adding to a growing series of woes in the space.
This sent the tech-heavy S&P 500 spiraling, with its total value dropping nearly 19% year to date.
But even this trend will eventually dissipate…
With the sector’s drastic decline, many analysts believe tech stocks are now undervalued – as even with recent troubles, long-term growth opportunities remain for many of the major businesses in the space.
This includes tech giants like Apple (AAPL), Amazon (AMZN), and Microsoft (MSFT).
However, this is also the reason analysts are bullish about companies such as DocuSign (DOCU).
Even if a rebound takes time, the company is well-positioned to continue to grow thanks to rising demand for e-signature software and other remote-work tools.
This has already enabled DocuSign to report first-quarter revenue of $588.7 million compared with Wall Street’s projected $582.8 million in its latest earnings.
And it’s also why the Software-as-a-Service provider said its second-quarter revenue could be in the range of $600 million to $604 million versus the estimated $600.4 million.
So, while it may take time for the industry to recover, DocuSign anticipates continued demand for its enterprise-focused software. And when you couple that with its recent Microsoft partnership, it should be able to bolster its profit margins moving forward.
“The next Apple” at less than $10?
One stock is causing quite a stir on Wall Street.
It has so much potential, Forbes asks whether it could be the next Apple or Microsoft.
Because of its business model, I personally feel it's more likely the next Amazon.
But it really doesn't matter whether it's the next Apple, Microsoft, or Amazon.
What matters is this:
- The company uses the most advanced technology on the planet.
- Its stock is trading for less than $10 (for now…), and
- Some of the world's biggest investors, including Bill Gates and Cathie Wood, are investing millions into it.
An international conference recently took place in Amsterdam that focused on the breakthrough tech behind this stock, which could explode any day now.