© Reuters. Buy These 3 Oversold Tech Stocks Now
Micron Technology (NASDAQ:), McAfee (MCFE), and Trimble (TRMB) are 3 tech stocks with strong fundamentals. Recent market volatility could be a great opportunity to add exposure.We’ve had our first major bout of market volatility in a couple of months. Given that the bull market remains intact, it’s presenting an opportunity to add exposure to some high-quality stocks.
While the fortunes of some sectors have deteriorated, technology is an exception. Low rates are helpful as are the litany of strong earnings reports.
Below, we provide a look at three of the most oversold tech stocks you should consider adding to your portfolio: Micron Technology (MU), McAfee (MCFE), and Trimble (TRMB).
MU is one of the top global providers of memory solutions for semiconductors. MU makes memory and storage tech such as DRAM, short for dynamic random access memory. The bulk of MU’s sales stem from its DRAM offerings yet the company also generates revenue through NAND flash memory, 3D XPoint memory, NOR Flash, and other tech.
MU has a low beta of 1.26 so investors concerned about potentially volatile swings should have no concerns. The stock also has a low forward P/E ratio of 12.67 so there is certainly the potential for significant upward movement in due time. MU is currently trading at $76.58, right around the midpoint between its 52-week low of $42.25 and its 52-week high of $96.96.
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