Rapid technological advancements and universal adoption across industries position the technology industry for substantial growth. Hence, investors looking to capitalize on the industry tailwinds in a relatively less risky manner may consider buying quality tech ETFs First Trust NASDAQ-100-Technology Sector Index Fund (QTEC – Get Rating), iShares Expanded Tech Sector ETF (IGM – Get Rating) and Vanguard Communication Services Index Fund (VOX – Get Rating) right now.
Before discussing why these ETFs hold solid upside potential, let’s see what’s happening in the tech space.
Industries vigorously employ technology to engage customers, foster innovation, and enhance operational efficiency. Many enterprises have been embarking on enduring digital transformation endeavors, a trajectory poised to intensify with the expanding embrace of hybrid work settings.
Advancing from established technologies such as applied AI and industrialized machine learning, generative AI is making remarkable progress in reshaping the technology landscape. With the capacity to contribute up to $4.4 trillion in economic value, it amplifies productivity via precise use cases and broader applications.
Furthermore, the burgeoning technological innovations, including the Internet of Things (IoT), 5G networks, blockchain, spatial computing, homomorphic encryption, metaverse, 3D printing, additive manufacturing, and robotics and automation, are poised to drive industry expansion, broadening its horizons to a greater extent.
The information technology market is expected to grow at a CAGR of 7.9% to reach $12 trillion in 2027, as projected by Report Linker.
In light of these encouraging trends, let’s look at the fundamentals of the three Technology Equities ETF picks, beginning with…
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