Following big gains for many tech stocks in 2020, lots of these equities have fallen sharply from highs earlier this year. This retracing, of course, may make sense for some tech stocks, as some companies’ valuations were likely getting ahead of themselves. But some of them — particularly shares of the high-quality tech stocks with strong competitive advantages — may be oversold.
One example of a stock that looks like a good buy after its sell-off is Apple (NASDAQ: AAPL). Don’t be fooled by its gargantuan $2.1 trillion market capitalization. This dominant tech company’s stock still has room to run.