2 Tech Stocks That Could Soar 40% or More, According to Wall Street Analysts
StockNews
Published Oct 28, 2021 12:50PM ET
Updated Oct 28, 2021 01:00PM ET
2 Tech Stocks That Could Soar 40% or More, According to Wall Street Analysts
The technology-heavy Nasdaq Stock Market has been rallying over the past few weeks, and the demand for advanced technology solutions is expected to rise with the continuing global, digital transformation. As such, we think it could be wise to bet on fundamentally sound tech stocks Incyte (NASDAQ:INCY) and Kulicke and Soffa (KLIC). Wall Street analysts expect these names to deliver solid upside in the coming months. Let’s discuss.Driven by solid third-quarter earnings reports, the technology industry has been attracting increased investor attention and the tech-heavy Nasdaq has been rallying lately. Investors’ interest in tech stocks is evidenced by the Technology Select Sector SPDR Fund’s (XLK) 11.3% and 22.5% respective returns over the past six months and year-to-date.
Furthermore, the technology industry is expected to grow in the coming months with rising investments in the industry, data center capacity expansion, rapid 5G deployment, among several other developments.
So, we think it could be wise to bet on quality tech stocks Incyte Corporation (INCY) and Kulicke and Soffa Industries, Inc. (KLIC). Wall Street analysts expect these two stocks to soar more than 40% in price the near term.
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