Connect with us

Hi, what are you looking for?

Stock

Forget Dogecoin, Buy These 3 Tech Stocks Instead

Stock Markets41 minutes ago (Apr 30, 2021 12:30PM ET)

(C) Reuters. Forget Dogecoin, Buy These 3 Tech Stocks Instead

Despite its history as a cryptocurrency that started as a meme and was built with the intention of mocking the concept of Bitcoin, Dogecoin has gained fame recently. However, its wild rally has raised the specter of a price bubble and filled investors with apprehension. As such, we think Dogecoin should be treated as a digital currency that lacks the differentiation and utility to be meaningful. Instead, we point to technology stocks Intel (INTC), HP (HPQ), and Fujitsu (FJTSY) that have the potential to outperform the market even in the post-pandemic world, and as such deserve far more attention. Let’s discuss.The meme-inspired cryptocurrency Dogecoin has attracted attention in the past couple of weeks. Although it caught the attention of investors for its crypto-craze-driven rally, its advance is probably not sustainable because of its deficiencies as a real-world digital currency. Even if cryptocurrencies in general eventually become mainstream, Dogecoin may not become widely accepted due its high volatility and limited market presence.

Putting the hype to one side, a much better and safer option for investors now is in technology stocks. They are buoyed by increasing demand for next-generation technologies. The tech industry enjoys favorable investor sentiment, as evidenced by Technology Select Sector SPDR Fund ETF’s (XLK) 54.3% returns over the past year, compared to SPDR S&P 500 ETF Trust’s (SPY) 43.3% gains over this period. Surging demand for electronic devices, coupled with the need for good connectivity and performance, has further accelerated the technology industry’s growth. The global market for big data technology is expected to grow at a 14% CAGR of 14% over the next six years to reach $116.07 billion in 2027.

Intel Corporation (NASDAQ:INTC), HP Inc. ((NYSE:HPQ) and Fujitsu Limited (FJTSY) are much less volatile than to Dogecoin and hold solid upside potential. So, we think it could be wise to bet on these stocks now.

Continue reading on StockNews

Forget Dogecoin, Buy These 3 Tech Stocks Instead

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved