Bank of America recommends five tech stocks to buy

Bank of America has recommended several tech stocks for investors to consider buying during the current market pullback. The tech sector, particularly the Nasdaq Composite, has recently dropped 12% from its peak in December. The firm believes some stocks within this sector are poised for recovery despite this downturn. Analysts suggest stocks like Analog Devices, Marvell Technology, and AppLovin are currently worth investing in. Analog Devices is expected to grow as markets in automotive and industrial sectors recover later in the year. The stock has seen a slight dip of 4.6% this year, but analysts see potential for more gains. Marvell Technology is also advised for investors, as it is seen to benefit from the expanding data center market. The company’s CEO has presented a positive growth outlook, and Marvell is planning an important analyst day in June that could boost its growth predictions. AppLovin, a mobile app publishing firm, is highlighted for its favorable position in increasing digital spending. Despite some recent negative reports from short sellers, analysts believe now is a good time to invest due to its potential for growth at a discount compared to major competitors like Google and Meta. Broadcom has been rated a buy as well, thanks to its strong profit margins and diverse market presence in areas like cloud data centers and smartphones. Analysts say it is likely to continue generating strong returns from investments. Overall, with several tech stocks showing signs of resilience, Bank of America encourages taking advantage of the current buying opportunities in the market.