Wall Street looks set to continue the rebound from Monday’s sharp selloff.
Tech stocks are back in favor as risk-on trade returns.
As such, I used InvestingPro to find high-quality, undervalued tech shares with strong upside ahead.
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The recent recovery in risk sentiment has investors breathing a sigh of relief, coming just two days after the suffered its worst daily decline since late 2022. As risk-on trade returns, tech stocks are once again drawing investor interest.
Source: Investing.com
Using InvestingPro, I have identified three high-quality tech stocks worth considering.
Each of these companies has strong fundamentals and significant upside potential according to AI-powered quantitative models in InvestingPro.
With solid financial health scores and a favorable market outlook, these stocks are well-positioned to deliver robust returns amid improving risk appetite.
Source: InvestingPro
Let’s delve into the top three tech stocks to consider as market sentiment begins to shift.
1. Adobe
Tuesday’s Closing Price: $514.20
Fair Value Estimate: $595.47 (+15.8% Upside)
Market Cap: $228 Billion
Adobe (NASDAQ:) is a global leader in digital media and digital marketing solutions. Its flagship products, such as Photoshop, Illustrator, and Acrobat, are widely used by creative professionals and enterprises.
Adobe’s Creative Cloud and Experience Cloud platforms offer a comprehensive suite of tools and services for content creation, marketing, analytics, and e-commerce.
ADBE stock ended Tuesday’s session at $514.20, not far from its 2024 low of $433.97 reached on May 31. At current levels, the San Jose, California-based software-as-a-service powerhouse has a market cap of $228 billion.
Source: Investing.com
Despite worries over an increasingly competitive landscape, Adobe continues to benefit from the ongoing digitization of businesses and the growing demand for digital content creation tools. Adobe’s subscription-based model provides a steady revenue stream, and its innovative product…
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