The sector of information technology has most certainly suffered during 2019 as the market is slowly turning sluggish on investors.
While Alphabet (GOOGL) and Facebook (FB) also experienced dips with the bearish market trends, there are still chances to acquire profit from IT stocks in the long run.
Here are some of the top information technology stocks to buy and hold in 2019 for a long-term profit.
Best Information Technology Stocks: Microsoft (MSFT)
Microsoft (MSFT) is a definite buy in the sector of information technology, while the company is also operating in the sub-sector of IT, cloud computing, where it manages to generate significant revenue.
Out of 21 analysts who are monitoring Microsoft stocks, 20 are bullish on the future price of MSFT. Microsoft is among the leading companies in the area of personal computing, as well as cloud computing with Azure.
Additionally, operational cash generated by Microsoft jumped from 6.2 billion in 2016 to 11.6 billion dollars in 2019 in the area of personal computing. Moreover, cloud computing cash for operations grew from 9.2 billion to 12.7 billion dollars.
Best Information Technology Stocks: Splunk (SPLK)
Splunk is one of the leading companies in the industry of big data, if not easily among winners of the sector according to RBCCapital.
Splunk is operating with machine learning and big data in order to produce software for analyzing, monitoring, researching and more.
Out of 38 analysts who are following Splunk performance, 28 consider that SPLK stocks are ranked as “buy”, while the median price target is set at 157$, which would be 15% up from the current SPLK price.
Best Information Technology Stocks: Apple (APPL)
Besides from fostering growth of iPhone and Apple products, Apple Inc is focusing on AI, data, as well as on VR and AR trends, while investors believe that APPL stocks are winning in the long-run.
Based on the consensus made by 40 analysts for the period between May 2019 and May 2020, 18 believe that APPL stocks are ranked as “buy”, with 17 suggesting “hold”.