Forget Nvidia. Here are 5 undervalued tech stocks every investor should own, Goldman Sachs says

📆 11/05/2024 07:42 a. m.
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The firm said this week investors should focus on tech stocks that are underappreciated.

Goldman Sachs said this week that there are plenty of cheap tech stocks to buy coming out of earnings. As of Friday, 92% of the companies in the S & P 500 have reported quarterly results, and 79% of these names have posted earnings that beat estimates, per FactSet. The information technology sector has reported a year-over-year earnings growth rate of 23.2%, according to John Butters, senior earnings analyst at FactSet.

Pro combed through Goldman Sachs' research to find the most underappreciated buy-rated tech stocks. They include Microsoft, Teledyne Technologies, Arista Networks, Toast and AppLovin. Teledyne Technologies Don't miss out on Teledyne's shares, Goldman said. The company builds electronic components, including avionics systems for commercial aircraft Goldman said it's standing by the stock even after Teledyne's disappointing late April earnings report.

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