2 Safe Tech Stocks to Buy and Hold Right Now

In response to the Fed's monetary policy tightening, the tech-laden NASDAQ has lost close to 30% in the next two years. Solid demand for technology solutions is expected to drive the industry's recovery. We think it's a good idea to buy and hold the tech stocks. Continue reading...

shutterstock.com - StockNews

Technology stocks have fallen due to the Fed's monetary policy tightening. The tech-laden index has lost 30% of its value so far this year.

The demand for tech solutions is still rising. The internet of things, artificial intelligence, and machine learning are expected to drive the industry's growth.

According to Statista, the total data volume of connected internet of things devices is expected to reach 79.4 billion bits by the year 2025. The global digital transformation market is expected to grow at a high rate.

While the stock market is expected to remain volatile in the near term, we think fundamentally sound tech stocks are safe buy and hold options.

Cisco Systems, Inc.

In the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China, CSCO designs, manufactures, and sells internet protocol-based networking and other products.

CSCO and Accedian joined hands to help Zain Kuwait automate its network with increased network visibility and service assurance.

"We're working with Accedian to simplify network operations with increased visibility and real-time insights while alsoAutomating service assurance to help future-proof their networks."

CSCO's service revenue increased slightly for the fourth quarter that ended in July. The revenue from its Europe, the Middle East and Africa segment came in at $3.58 billion, up 8% from a year ago. Revenue from end-to-end security products came in at almost $1 billion.

CSCO's revenue is expected to increase in the next five years. The company's earnings per share is expected to grow by 5.1% in the next five years. It has beaten estimates in four of the last five quarters. The stock has fallen over the last month. It has a long-term risk of 0.88

The B rating equates to a Buy in the POWR Ratings system. Each stock is assessed by 118 different factors, each with its own weight.

There is an A grade for quality. It is a member of the Technology - Communication/Networking industry. The additional POWR ratings for growth, stability, sentiment, and value can be found here.

JNPR is a company

JNPR sells network products and services around the world. In the cloud, service provider, and enterprise markets, it sells its products through distributors.

Apstra Freeform is the newest expansion to JNPR's multivendor data center automation and assurance platform. JNPR wants to strengthen its data center operations management through Apstra Freeform and give customers a blissful experience regardless of the protocol used.

JNPR's total net revenues came in at over a billion dollars for the second quarter that ended in June. It had a net income of $113.40 million last year. It had an increase in its earnings of 84.2%.

JNPR's revenue is expected to increase by more than 10% in the next five years. The projected growth of its earnings per share is 6.3% in the next five years. Over the last month, the stock has lost ground. It has a 60-monthBeta of 0.86

JNPR has a Buy rating in our POWR Ratings system. A grade of B is given for quality. In the same industry, it is ranked twelfth. JNPR has been rated for value, momentum, sentiment, growth, and stability. Here, you can get all JNPR ratings.

CSCO shares were trading at a lower price on Wednesday. CSCO has declined since the beginning of the year compared to the S&P 500's rise.

Riddhima loves analyzing financial instruments. She helps investors make informed investment decisions with her insightful commentaries.

There is more.

There are two safe tech stocks to buy and hold right now.