September has been a rough month for stocks in general and technology stocks in particular. The Nasdaq composite index, which is largely made up of technology stocks, has crashed into correction territory and is currently about 17% below its August highs.
Yet the digital revolution is very real, with the pandemic only accelerating big tech trends around cloud computing, AI, and 5G that will shape the next decade. As such, the recent pullback could be an opportunity for long-term investors to buy the best-positioned tech stocks for these multiple growth industries.
In September, two all-star tech stocks that play big parts in that tech revolution got hit particularly hard due to fears over China. However, I think these specific concerns seem widely overblown, so I flipped over the couch cushions to buy up as much of these two stocks as I could.
Semiconductor equipment manufacturers have wide economic moats. Image