From Nasdaq: 2024-05-03 12:05:00

The technology sector saw a major decline last month, dragging down the S&P 500 index by 3.6%. Key factors included the delay in rate cuts, semiconductor sell-offs, and weak earnings from tech giants like Meta Platforms. However, beaten-down prices may present buying opportunities for ETFs with strong upside potential.

Reasons to invest in tech ETFs include the AI expansion fueling sector growth, hopes for rate cuts later this year, the growth of cutting-edge technologies, higher worldwide IT spending, and the strong financial positions of tech titans. Top ETF picks include TRFK, SHOC, IGPT, CLOU, and WFH.

Pacer Data and Digital Revolution ETF (TRFK) focuses on data and digital revolution companies, while Strive U.S. Semiconductor ETF (SHOC) provides exposure to the U.S. semiconductor sector. Invesco AI and Next Gen Software ETF (IGPT) targets companies contributing to future software development, and Global X Cloud Computing ETF (CLOU) invests in cloud computing technology. Direxion Work From Home ETF (WFH) focuses on companies benefiting from a flexible work environment.



Read more at Nasdaq: Here’s Why These Tech ETFs Are Worth Buying Now