3 Blue-Chip Tech Stocks To Buy Now

Recent volatility has spooked individual and institutional investors alike, but once the dust settles, it is likely that money will find refuge in strong, consistent companies with businesses that can withstand near-term headwinds.

This might mean that the world’s tech leaders, which have dominated Wall Street over the past several years, are now on sale. Tech has been at the helm of our historic bull market, and it seems likely to remain that way, so long as the bull trudges along.

Of course, this year’s volatility has made some investors hesitant, with bearish traders quick to draw similarities between this latest tech rally and the infamous dot-com bubble of the late 90s and early 2000s.

However, unlike the dot-com bubble, there is real earnings and revenue growth fueling this tech rally. In fact, the average P/E ratio of our “Computer and Technology” sector currently sits at 19.5, which compares favorably to the dot-com era’s average that soared into the 100s for a few weeks.

Another interesting trend in today’s tech rally is that, rather than obsessing over the next big thing, investors seem to rewarding tried-and-true brands for their respectable growth. This means that some of the strongest tech stocks are the household names that consumers already know and love.

With that said, check out these three blue chip tech stocks to buy now:

1. Sony Corporation (SNE - Free Report)

This Japanese electronics giant has a dominant position with many key products, including audio and video equipment, televisions, displays, semiconductors, game consoles, computers and computer peripherals, and telecommunication equipment. Sony is currently sporting a Zacks Rank #2 (Buy) and looks like a promising tech stock for both the near term and in the coming years.

Even with recent selling, Sony shares are up about 12% on the year, but the stock is still reasonably valued. SNE is trading at about 11.4x earnings and has a PEG ratio of 1.1, both of which present discounts to their industry averages.

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this ...

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