7 Undervalued Tech Gems With Strong Upside Ahead

 | May 17, 2023 04:02PM ET

  • The Nasdaq Composite has outperformed the S&P 500 and the Dow Jones Industrial Average by a wide margin thus far in 2023.
  • High-growth tech stocks have come back in favor following last year’s extreme selloff as money flows back into the sector.
  • As such, I used the InvestingPro stock screener to find high quality, undervalued technology gems to buy now with strong upside ahead.
  • Looking for more top-rated stock ideas to protect your portfolio amid the increasingly uncertain economic climate? Members of Learn More »

The tech-heavy NASDAQ has been the best performer of the three major U.S. indices by a wide margin so far in 2023, surging 22.8% as investors rotated back into the beaten-down growth stocks of yesteryear.

That compares to a 7.3% year-to-date increase for the benchmark S&P 500 index and a 0.3% decline for the blue-chip Dow Jones Industrial Average.