Continuing innovations to meet changing consumer demand and the increasing need to facilitate remote activities have helped the technology industry thrive since the onset of the COVID-19 pandemic. And because the continuing digital transformation should keep driving the industry’s growth, we think it could be wise to bet on quality tech stocks Microsoft (MSFT), Qualcomm (NASDAQ:), Micron (MU), and HP (HPQ). These stocks are rated ‘Buy’ in our proprietary POWR Ratings system. Read on.Continued digitalization in almost all industries in this 5G era and the adoption of hybrid working models have driven the technology industry’s growth over the past year. This surging demand, along with increasing investments and impressive technological breakthroughs, should help the industry keep growing. Tech spending in the United States is expected to grow by 6.7% in 2022.

Since high inflation and increasing Treasury yields are expected to keep the stock market volatile in the near term, overpriced tech stocks might suffer a price decline. Conversely, fundamentally sound tech stocks could be ideal bets for cashing in on the industry’s long-term growth prospects.

Their solid fundamentals and growth prospects make Microsoft Corporation (NASDAQ:), Qualcomm Incorporated (QCOM), Micron Technology, Inc. (NASDAQ:), and HP Inc. (NYSE:) ideal bets now. Our proprietary POWR Ratings system has rated these stocks ‘Buy.’

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