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It’s been an impressive start to the year thus far for the Nasdaq-100 Index (QQQ), with the ETF up more than 28% year-to-date, lapping an incredible 47% return in 2020. This has left many tech stocks trading at exorbitant valuations, with more than fifty names trading above 35x sales.
However, some names are still trading at very reasonable valuations, and some that have been out of favor over the past couple of months are now heading towards buy-zones. With an increased probability of a correction over the next couple of months, this is the perfect time to build a shopping list to prepare ahead of time.
