It had been almost 15 years since we had seen the kind of selling and overall disruption in the technology sector we witnessed in 2022. For many investors who were long the biggest names, it was a disaster. Most of the mega-cap technology giants have announced massive layoffs, with Amazon and Google joining the fray recently, announcing they will be giving the pink slip to as many as 30,000 employees combined. Altogether, mega-cap tech companies have laid off a stunning 150,000 employees over the past few months, and more could be on the way.
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While it is tough for those shown the door, many analysts across Wall Street like the thinning of the employee herd, even though it can have immense costs initially. Financial discipline ultimately will lead to better numbers. If they are anything like what Meta Platforms posted earlier this week (and despite the mixed results from Alphabet, Amazon and Apple after the close), an old-fashioned tech rally still could be in store.
We screened our 24/7 Wall St. technology research universe looking for quality stocks with products and services that are still in demand and, most importantly, will remain in demand for years to come. Then we looked for Buy-rated stocks with consistent and dependable dividends. The following seven top stocks made the cut, and all make sense for investors with a long-term horizon. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Broadcom
This stock has seen a solid move higher, and though it remains most suitable for investors who are more aggressive, Wall Street continues to like the dividend growth. Broadcom Inc. (NASDAQ: AVGO) has an extensive semiconductor product portfolio that addresses applications within the wired infrastructure, wireless communications, enterprise storage and industrial end markets.
Applications for Broadcom’s products in its end markets include data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, servers and storage, factory automation, power generation and alternative energy systems and displays.
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