Kyle Anderson: Technology stocks have been at the forefront of a global market downturn in the last week, leading many to avoid that industry when looking for stocks to buy.
The Nasdaq Composite has dropped more than 3% in the last five trading days and more than 6% in the last month. On Friday, the Nasdaq dropped 2.6%, or 110 points, for its second-worst one-day performance of 2014.
Some of the biggest names in the tech sector have been hit particularly hard during the recent downturn. Shares of Netflix Inc. (Nasdaq: NFLX) have dropped 6% in the last week and 25% in the last month. Amazon.com Inc. (Nasdaq: AMZN) is down 5% in the last week and 14% in the last month.
One of 2013’s biggest winners, Tesla Motors Inc. (Nasdaq: TSLA), is down 10% in the last three trading days and 16% in the last month.
Technology exchange-traded funds (ETFs) have been hit harder. The iShares Dow Jones US Technology ETF (NYSE: IYW), the iShares S&P Global Technology Sector ETF (NYSE:IXN), and the Technology SPDR ETF (NYSE: XLK) have all dipped 2% in the last week.
But just because tech stocks are down lately doesn’t mean investors should run from the technology sector…
By looking past the surface, and toward burgeoning markets, Money Morning‘s Defense & Tech Specialist Michael A. Robinson has made profits in the tech sector even when the markets are down. Following these unstoppable markets is an absolute must for tech investors looking for stocks to buy now.
“I’ve been able to see what the technical experts, the Wall Street analysts and even the news media don’t pick up on because I follow the third of my five rules: ride the unstoppable trends,” Robinson said. “That’s a rule that’s vital if you really intend to amass meaningful wealth.”
That said, here are innovative and dynamic companies in burgeoning markets that Money Morning‘s experts have been recommending in 2014…
Best Tech Stocks to Buy Now
One industry that Robinson sees huge revenue-growth potential in is digital payments. According to the Electronic Transactions Association (ETA), more than $4.6 trillion was exchanged globally in digital transactions in 2012. By 2017, that figure is expected to be $7.3 trillion.