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2 Tech Stocks Trading Near 52-Week Highs That Can Still Surge Even Higher -Breaking

by Mike Robinson

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© Reuters. 2 Tech Stocks Trade Near 52-Week Lows, But Can Surge Higher

The continuing adoption of advanced technology solutions to facilitate hybrid working and business digitization is propelling the technology industry’s growth. Therefore, we believe investors could benefit by betting on fundamentally sound tech stocks SS&C Technologies (SSNC) and Diodes (NASDAQ:). Although these stocks have a lot of upside potential, they are trading close to their 52 week highs. Let’s discuss.An increasing dependence on cloud-based services, data and analytics capabilities, and the 5G rollout is accelerating the technology market’s growth. The continuing adoption of advanced technologies for hybrid working, the expansion of data centers, and business automation should keep the industry’s products, services, and solutions in demand. According to Forrester, U.S. technology spending will grow by 6.8% and 6%, respectively, in 2021, according to the report.

Investors’ interest in the technology industry is evidenced by the iShares Global Tech ETF’s (IXN) 16.7% returns over the past six months versus the SPDR S&P 500 ETF Trust’s (SPY) 11.1% gains.

Therefore, we think it could be wise to bet on fundamentally sound tech stocks SS&C Technologies Holdings, Inc. (SSNC) and Diodes Incorporated (DIOD). Both companies’ shares are near 52-week highs but still offer plenty of upside.

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