3 Software Stocks to Buy for a Year-End Rally -Breaking
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Software industry growth should be aided by the increasing use of hybrid work-life and ongoing digital transformation. We think that it is a smart move to place your money on Open Text, NASDAQ: software stocks. PTC (NASDAQ:), Progress Software (NASDAQ:). In the short term, prices are likely to rise for these names. Continue reading. The hybrid working trend will continue with the revival of COVID-19 in many countries. These developments, as well as continued digitization should fuel the demand for software solutions. Investors’ increasing interest in software stocks is evidenced by the SPDR S&P Software & Services ETF’s (XSW) 13.2% returns over the past six months.
Software industry growth should continue in coming months due to the increasing demand for software products and services across almost all industries. Grand View Research predicts that the worldwide business software and services market will grow by 11.3% between 2021-2028.
We believe it would be smart to buy shares in quality software stocks Open Text Corporation, PTC Inc., and Progress Software Corporation (PRGS) as they are likely to rise in price over the next few months.
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