4 Under the Radar Tech Stocks to Buy for a Year-End Rally
StockNews
Published Aug 12, 2021 09:56AM ET
Updated Aug 12, 2021 10:31AM ET
4 Under the Radar Tech Stocks to Buy for a Year-End Rally
Although the resurgence of COVID-19 cases in several parts of the world and the ongoing digital transformation are fostering renewed investor interest in tech stocks, causing them to trade at expensive valuations, there are still some lesser-noticed stocks in the tech space that could deliver substantial returns by year’s end. While the stock market is expected to suffer a correction in the near term, we think that an expected year-end rally could drive the performances of under-the-radar stocks United Microelectronics (UMC), Commvault (CVLT), ChipMOS (IMOS), and Information Services (III). So, please read on for a closer look at these names.Renewed investor interest in the technology sector owing to a resurgence of COVID-19 cases and a continuing digital transformation of industry has caused the prices of many prominent tech stocks to soar to fresh highs lately. However, some tech players that are absent from the headlines have sufficient fundamental strength to ride the tech wave.
While the major stock market indexes are hovering near their all-time highs thanks to the Senate’s recent passage of a whopping infrastructure spending bill and solid corporate earnings, many analysts expect the market to experience a correction in the near term on concerns over the spread of the Delta variant of COVID-19 and rising inflation. However, the odds of the market witnessing a year-end rally are very high considering the continuing economic recovery.
So, we think it could be wise to bet on under-the-radar tech stocks United Microelectronics Corporation (UMC), Commvault Systems, Inc. (CVLT), ChipMOS Technologies Inc. (IMOS), and Information Services Group, Inc. (NASDAQ:III) to cash in on the technology industry’s solid growth prospects.
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