The Authorities and central banks are trying to lessen the negative impact of the coronavirus on the global economy. The U.S. Senate voted for the $2 trillion stimulus plan that is set to provide direct payments to Americans, extend additional resources to health-care providers, beef up unemployment insurance, and provide loans to companies.
However, a record of 3.28 million workers applied for unemployment benefits this month. While the stimulus boosted the stocks for a short while, they collapsed again after coronavirus cases multiplied.
Experts say it’s a good time for long-term investors to buy stocks at discount prices, as they trade low. Here are three tech stocks, which Wall Street analysts recommend as a good choice.
Microsoft stock is about as blue-chip as they come. The company warned Wall Street in late February that the pandemic would likely cause it to miss its personal computing sales guidance. However, Microsoft’s longer-term earnings revisions remain largely positive so far.
Analysts think that the stock is a strong buy. According to them, the stock’s sales may jump by 12.3% and 11.4%, respectively, in fiscal 2020 and 2021, with its EPS also set to rise by 18.5% and 12.3%.
Apple also stated in February that it would likely fall short of its quarterly sales guidance after the company had to close its manufacturing centers and stores in China. While things are better in China, the other countries went into lockdown.
Nevertheless, analysts expect the company’s sales to rise by 3.3% in 2020. The tech firm’s bottom line may climb over 9.3% this year, with its top and bottom-lines surging possible 13.5% and 21.2%, respectively, in 2021.
This company aims to become a cloud powerhouse. Arvind Krishna, IBM’s new chief executive, has already played a key role in shifting the firm’s focus to the cloud, quantum computing, and AI. Furthermore, the company showed good growth in the fourth-quarter revenue, gaining 21%.
According to experts, IBM’s adjusted fiscal 2020 earnings could jump by 4%, with its revenue is set to rise by at least 1% over the year. In the light of global crises, that’s not a bad prognosis.
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