Technology companies have taken a beating in recent months as inflation has risen. For growth investors, this is both good and bad news. According to Cathie Wood of ARK Investment Management, the drop has created a fantastic purchasing opportunity to take up shares of well-known IT companies at cheap rates. Even massive companies like Meta Platforms, Uber Technologies, and Netflix have seen their market capitalizations plummet. There is little doubt that the slowdown in growth stocks is just that – a lull — as smartphones, cloud computing, and digital payments become more fundamental to people’s daily lives.
Insider Monkey highlighted 10 famous tech stocks that are trading at a discount today. For the fourth quarter of 2021, Shopify Inc. outperformed the market in terms of earnings per share and revenue. Revenue growth is expected to slow in the next years, according to analysts. As it competes with Amazon and Walmart, the corporation aims to enhance incentives for small businesses. Adobe Inc. has seen its stock price plummet in recent months. The company just reported market-beating earnings for the first fiscal quarter, increasing cloud revenue to more than $2 billion, one of the largest marketplaces in the computer world. Block, Inc. is a company that specializes in payments technology. According to estimates from Valuates Reports, the online payment sector will be worth more than $6 billion by 2027. Block is one of the industry’s leaders and is expected to drive this expansion. Other Chinese companies, such as Alibaba Group Holding Limited, are still in the red. Veteran investors like Charlie Munger, on the other hand, continue to see it as a plus. Investors are especially interested in the company’s recent $25 billion share buy program. Sea Limited is a company with interests in digital entertainment, ecommerce, and digital financial services. East Asia, Brazil, and Taiwan are among the countries where Amazon, the US-based ecommerce behemoth, is still battling to establish a presence. For more details, click 10 Famous Tech Stocks That Are Trading At A Discount Today.