3 Top-Ranked Tech Stocks To Buy Now Despite Volatility

ALGN’s revenue has climbed by an average of 25% in the past five years and that’s weighed down by 3% growth in 2020. The company ended the year with 28% sales growth in Q4 as it bounced back from early coronavirus setbacks.

ALGN’s adjusted FY21 earnings are projected to surge 74% on 41% stronger sales to hit $3.47 billion, with it projected to post 21% higher revenue in FY22 to lift its EPS by 23%. Align, which is a Zacks Rank #1 (Strong Buy) with an “A” grade for Momentum, is up 260% in the last year to crush its highly-ranked Medical-Dental Supplies industry’s 55%. ALGN is now up 655% in the last five years but a recent market pullback has it trading 15% below its February records at $529 a share.

At 11.2X forward sales, ALGN is trading at a 25% discount to its own year-long highs. And the tech downturn and its recent selloff has pushed it below neutral levels in terms of RSI at 45, which gives it ample runway.

Align operates in an industry that isn’t going out of style and many people might favor its in-person approach given that fixing teeth is far more complex than ordering most other things online. Plus, ALGN improved its balance sheet last year and saw greater adoption from both adults and teenagers.

Amkor Technology, Inc. (AMKR)

Amkor provides outsourced semiconductor packaging and test services. The firm is a strategic manufacturing partner for some leading chip firms, foundries, and electronics OEMs, and it posted blowout Q4 results in early February.

AMKR’s Q4 sales jumped over 16%, with full-year revenue up 25% to a record $5.1 billion. The company also provided impressive guidance that forced analysts to lift their earnings estimates.

Zacks estimates currently call for the company’s 2021 revenue to climb another 12% to help lift its adjusted earnings by nearly 30%. Investors should note that Amkor also reduced its debt load to help improve its balance sheet.

AMKR’s growth is projected to continue in FY22 as well, and the nearby chart shows that its FY21 and FY22 consensus earnings estimates are up 33% since its last report. This strong bottom-line positivity helps it land a Zacks Rank #1 (Strong Buy) right now.

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