3 Top Tech Stocks That Could Help Make You Rich by Retirement
Tech stocks had as difficult a year as any sector in 2022, with the Nasdaq-100 tech index falling more than 39% over the past year. It's hard to find tech stocks, which are known for their growth, that weren't hit by falling share prices.
Health Catalyst (NASDAQ: HCAT), Oracle (NYSE: ORCL), and Microsoft (NASDAQ: MSFT) are all poised to bounce back this year because their financials never really faltered, despite negative market sentiment for the sector. All three companies are riding the increase of cloud computing and above-average margins to generate improved earnings.
Savvy investors may want to buy these three now while their valuations are relatively low because they all look like great long-term investments. According to a MarketsandMarkets report, the cloud computing market was considered to be worth $545.8 billion in 2022 and is expected to have a compound annual growth rate of 17.9% over the next five years, reaching $1.2 trillion by 2027.
Source Fool.com
