10 Best Tech Stocks to Buy for 2023

Yesterday we talked about the best investment opportunities in environmental change. Today we talk about the best current opportunities in tech.  

OCTOBER 6, 2023 Invested Advice, rankings and stock market news for investors.

Happy Friday, investors! Stocks stabilize as investors digest strong labor data and watch for a key jobs report today. Highlights of today's newsletter include our market insights plus these new articles: 10 Best Tech Stocks to Buy for 2023 7 Best Vanguard Funds to Buy and Hold 10 Best Low-Cost Index Funds to Buy 7 Best Lithium Stocks and ETFs to Buy Now TODAY'S FEATURED STOCK STORY 10 Best Tech Stocks to Buy for 2023 After an uncharacteristically sluggish performance in 2022, tech stocks have come roaring back to life in 2023. In fact, the Technology Select Sector SPDR ETF (ticker: XLK) has more than doubled the S&P 500's year-to-date return. For more than a decade, brief periods of tech sector underperformance have consistently been long-term buying opportunities, and that trend seems to be playing out once again so far in 2023. However, inflation and interest rates remain headwinds for tech earnings in the near-term, making stock selection critical. Here are 10 of the best tech stocks to buy today, according to CFRA analysts: Apple Inc. (AAPL). Apple produces the iPhone, iPad, Apple Watch, Mac computers and other personal computing devices. In addition, its Services segment includes its App Store, Apple Music, iCloud and licensing businesses. Apple's stock is richly valued at a market cap of $2.7 trillion, but the valuation is warranted given the company's impressive free cash flow generation and capital return program. CFRA has a "buy" rating and $220 price target for AAPL stock, which closed at $173.66 on Oct. 4. Microsoft Corp. (MSFT). Microsoft is the world's largest software company that is best known for Windows, Office and Azure cloud services. Microsoft also has a tremendous opportunity for artificial intelligence-related upside, including Copilot, ChatGPT and other OpenAI services. Revenue from Microsoft's cloud-based businesses now represents nearly two-thirds of the company's total revenue. Analysts project revenue growth will accelerate from 11% in fiscal 2024 to 13% in fiscal 2025. CFRA has a "strong buy" rating and $407 price target for MSFT stock, which closed at $318.95 on Oct. 4. Click here to continue reading.   TECH STOCK ANALYST RATING IMPLIED UPSIDE (AS OF OCT. 4 CLOSE) Apple Inc. (AAPL) Buy 26.7% Microsoft Corp. (MSFT) Strong Buy 27.6% Nvidia Corp. (NVDA) Buy 36.2% Broadcom Inc. (AVGO) Buy 18.4% Adobe Inc. (ADBE) Buy 19.6% Cisco Systems Inc. (CSCO) Buy 12.3% Accenture PLC (ACN) Strong Buy 10.2% Salesforce Inc. (CRM) Strong Buy 26.8% Advanced Micro Devices Inc. (AMD) Buy 39.3% Intuit Inc. (INTU) Buy 4.4%