May 3, 2024

News and Political Commentary

3 Millionaire-Maker Technology Stocks Worth a Closer Look

2 min read

If your ultimate investing goal is becoming a millionaire, there’s one sector you’ll want to overweight within your portfolio: Technology.

The tech sector’s stocks have a long history of outperforming the overall market. That’s because tech companies tend to introduce the world’s most revolutionary products and services. Think mobile phones, or high-speed internet, or augmented reality.

With that as the backdrop, here’s a closer look at three fantastic technology stocks with lots of upside ahead. Each one of these names is not only a leader in its respective arena, but also offers products or services everyone is going to need.

1. Qualcomm

When most investors think of chip companies, Nvidia and Intel likely are the first ones to come to mind. And understandably so. Nvidia’s tech is at the heart of most chip-related products and services. Meanwhile, Intel’s processors are still found in most of the world’s conventional computers.

These aren’t the only chipmakers we would struggle to suddenly live without, however. Qualcomm (NASDAQ: QCOM) is in the mix, too, and perhaps even more important to you than Intel or Nvidia.

See, Qualcomm makes or owns the rights to a technology that powers just about every mobile phone on the market. One of its core products is its powerful Snapdragon processor, giving your handheld device computing power that nearly rivals that of your laptop or desktop, but at a fraction of the size. It’s not just your smartphone’s CPU (central processing unit), though. Qualcomm’s wares are found inside 5G and Wi-Fi antennas, within audio equipment, onboard smart cars, and even within security cameras, just to name a few. None of it is super-high-profile stuff. What Qualcomm lacks in “wow” factor, however, it more than makes up for in the breadth and depth of its product portfolio. The world’s not simply going to stop using its technologies now. It can’t.

The company is also positioning itself for what could be a massive opportunity. That’s…



2024-03-10 07:40:00

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