7 Oversold Tech Stocks to Buy

The third and final day of our long holiday weekend and more stock picks to consider ... 

MARCH 29, 2024 Invested Advice, rankings and stock market news for investors.

Happy Friday, investors! Stocks trade sideways as investors await today's PCE inflation report, and SBF gets a 25-year sentence. Highlights of today's newsletter include our market insights plus these new articles: 7 Oversold Tech Stocks to Buy Why Mergers and Acquisitions Could Rebound in 2024 11 New Spot Bitcoin ETFs to Buy in 2024 7 Best Copper Stocks to Buy The stock market is closed today and reopens on Monday, April 1. TODAY'S FEATURED STOCK STORY 7 Oversold Tech Stocks to Buy The S&P 500 is up about 32% in the past year ending March 27, and the technology sector has led the charge. The Technology Select Sector SPDR (ticker: XLK) exchange-traded fund is up 45.3% in the same period, but a small number of high-quality tech stocks haven't participated in the rally. If you have missed out on the tech stock rally, are looking to rebalance your tech stock portfolio or are simply hunting for opportunities to buy the dip in overlooked tech stocks, here are seven tech stocks to buy that are down at least 10% in the past year, according to Morningstar: Nokia Corp. (NOK). Nokia is a telecom equipment and digital map data vendor that also licenses intellectual property to third parties. Nokia shares are down 18.8% in the past year, but analyst Matthew Dolgin says Nokia's poor performance has set a low bar of expectations in 2024. Management expects a sales rebound in the second half of the year. Morningstar has a "buy" rating and $6 fair value estimate for NOK stock, which closed at $3.60 on March 27. First Solar Inc. (FSLR). First Solar produces solar modules using a proprietary thin film semiconductor technology. First Solar's stock is down 20.3% in the past 12 months, but analyst Brett Castelli says solar panel production should grow 40% in 2024 as the company generates an estimated $1 billion in domestic manufacturing credits. As a result, Castelli projects earnings per share will grow 75% year over year in 2024 to $14. Morningstar has a "buy" rating and $185 fair value estimate for FSLR stock, which closed at $167.45 on March 27. Click here to continue reading.   sTOCK IMPLIED UPSIDE OVER MARCH 27 CLOSING PRICE Nokia Corp. (NOK) 66.7% First Solar Inc. (FSLR) 10.5% Smartsheet Inc. (SMAR) 45.8% Endava PLC (DAVA) 63.9% Fastly Inc. (FSLY) 58.4% BlackBerry Ltd. (BB) 78.2% GDS Holdings Ltd. (GDS)     358.1%