3 Tech Stocks to Buy Right This Minute

At one point in time, tech stocks took center stage and became an integral part of every investor’s portfolio. During the pandemic, they offered unique solutions and enjoyed big rewards in terms of investor interest, higher revenue, and increasing market valuation.

However, the past year was unkind to the tech industry. Inflation and concerns about the economy’s future led to a major drop in tech stocks. Investors who held steady through the market retreat are enjoying strong returns today. Picking up pace, tech stocks once again have become a safe harbor. Now is a good time to start buying them to give your portfolio a boost. They continue to sail through the market, remaining attractive to all investor types regardless of the situation.

Holding tech stocks for the long term can generate solid returns for your portfolio. Considering technological advances such as artificial intelligence, machine learning, and cloud computing, a savvy investor can see massive growth potential for tech companies. With the market finally gaining traction, consider buying these three tech stocks now. 

Microsoft (MSFT) 

If you have to choose only one hot tech stock, it should be Microsoft (NASDAQ:MSFT). The 48-year-old tech dinosaur is a leader in the industry and has built a legacy with its personal computer market. For many, it is hard to imagine running a computer without Microsoft software, yet this is only one part of the company. With its investment in AI, it has already become an AI industry leader. The company has invested over $13 billion in OpenAI and integrated it into its Bing platform. MSFT stock is trading at $334 today and has generated over 200% results in the past five years. The stock is up 39% year to date. You could consider this particular stock one to buy and hold forever. 

Microsoft generates significant revenue through the cloud computing platform, Azure. In the recent quarter, the company reported a revenue of $52.9 billion, and revenue from Intelligent Cloud stood at $22 billion. The software giant is already dominating in platform use, such as Excel, Azure, and Word, by organizations across the globe. The integration of OpenAI’s technologies means the performance and efficiency of its platforms are likely going to increase. A recovery in the personal computer segment will also drive growth in the future. For now, cloud computing will be the driving force for Microsoft. 

A Microsoft stock investment is not only a way to invest in AI but also the best way to make the most of the AI boom. Adding it to your portfolio will bring stability, steady returns, and solid long-term growth. That said, the company has a dividend yield of 0.81% and a quarterly dividend payout of $0.68. 

Adobe (ADBE)

Adobe (NASDAQ:ADBE) is a well-known name in the industry and trusted for several reasons. The design app offers the best solutions to creators. Its Creative Cloud helps run all the major applications in one system with ease. It has over 20 applications that allow users to explore and expand their creativity. The company hit all-time highs during the pandemic but has dropped since then. ADBE stock is trading at $489 today, about 45% up year to date, and I believe this upward trend is set to continue this year.

One of the biggest reasons to invest in Adobe is its movement into AI. The company recently launched FireFly which is a generative AI tool that enables the creation of videos, images, and digital models using text-based prompts. It will integrate Firefly into its Creative Cloud platform, making it easier to create images. While it’s too early to see generative growth from the AI tools addition, chances are high for better numbers once the company locks in users. 

Adobe is known for maximizing project creativity and generating its peak revenues from the subscription-based model. In the recent quarter, the company grew revenue to $4.7 billion, a 9% year-over-year increase, while the net income stood at $1.2 billion. Having reported growth on the top and bottom lines, Adobe is here to take the business higher. 

Oracle (ORCL)

Oracle (NYSE:ORCL) has been around since 1979, when it created the earliest commercial relational database program to use Structured Query Language (SQL). Long considered a niche player in the tech space, it is a cloud provider for several enterprise customers and a top contender amongst the tech stocks. A majority of the company’s revenue comes from cloud services. Oracle has also shown strong financials with a revenue growth of 22% to $50 billion as well as a 27% rise in net income to $8.5 billion. The cloud segment on its own generated $1.4 billion in the recent quarter.

The company has seen about 50% growth in the cloud segment which is likely to continue throughout the year. Despite high inflation, the company’s cloud business continued to grow significantly. It is currently focusing on the EU market which can help expand growth. It was already offering localized infrastructure for European customers and now is extending further into the EU. ORCL stock is trading at a premium right currently. It is exchanging hands at $117, close to an all-time high of $127. The company pays a dividend of $0.40 and has a dividend yield of 1.36%. 

As an stablished business with a predictable growth rate and steady income, Oracle is worth buying right now. Numbers prove it will likely be a winner in the long term, one worth owning. 

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.