5 Hot Tech Stocks to Buy Now

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In this article, we will be taking a look at the 5 hot tech stocks to buy now. To read our analysis of the recent technology trends, and market activity, you can go to the 11 Hot Tech Stocks to Buy Now.

5. Intel Corporation (NASDAQ:INTC)

3-Month Average Volume: 36.89M

YTD Performance: 43.02%

Number of Hedge Fund Holders: 71

Santa Clara, California-based Intel Corporation (NASDAQ:INTC) is a leading technology company best known for developing the microprocessors found in most of the personal computers used worldwide. It offers products for autonomous driving, 5G network, client connectivity, cloud computing, IoT, client computing, and AI and Analytics.

Intel Corporation (NASDAQ:INTC) has been working on strategies to unlock value for shareholders. The company recently announced plans to separate its Programmable Solutions Group (PSG) operations into a standalone business with the potential to seek opportunities with private investors to accelerate the business’s growth. The company intends to conduct an IPO for the business in the next 2-3 years.

Intel Corporation (NASDAQ:INTC) previously sold nearly 20% stake in IMS Nanofabrication Business to Bain Capital at a valuation of $4.3 billion and recently announced an agreement to sell 10% stake to Taiwan Semiconductor Manufacturing Company, Ltd. (NYSE:TSM) at the same valuation. The company still retains a majority stake in the business.

In its Q3 2023 investor letter, ClearBridge Investments, an investment management company, made the following assessment about Intel Corporation (NASDAQ:INTC):

“Intel appears to be executing its technology/product roadmap; the company is on track to ramp up PC and server products over the next 12 months on advanced manufacturing nodes that we believe will be more competitive with chief rival Advanced Micro Devices. We also see green shoots in the PC and server markets, with an increasing possibility of a cyclical recovery in both end markets in 2024.”

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