5 Dividend-Paying Tech Stocks to Buy Now as the Market Free Falls

Having dry powder is always the best ammunition when the market is in a free fall While the 2022 massacre could still have a way to go, now is the time for savvy investors to start looking at the stocks they would like to add at a substantial discount.

The reasons for the sell-off this year are plentiful: massive inflation, hawkish Federal Reserve policy, a bitter war in Ukraine, supply chain issues, the COVID-19 lockdowns in China and a host of additional issues. None of these is going away any time soon, and they will keep the pressure on stock prices. Many across Wall Street feel that the actual bottom for the venerable S&P 500 could be as low as 3,700. That is another 7% or so downside from Monday’s close at 3,991.

We screened our 24/7 Wall St. technology sector universe looking for quality companies that have been absolutely crushed and found five that investors with a higher degree of risk tolerance may want to start buying partial positions in.

Broadcom

The company reported solid first-quarter earnings and is a top pick across Wall Street for dividend growth. Broadcom Inc. (NASDAQ: AVGO) has an extensive semiconductor product portfolio that addresses applications within the wired infrastructure, wireless communications, enterprise storage and industrial end markets.

Applications for Broadcom’s products in its end markets include data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, servers and storage, factory automation, power generation and alternative energy systems and displays.

The BofA analysts and many on Wall Street are very positive on the company’s massive $10 billion share repurchase authorization, which represents about 4.2% of the company’s market cap.

Broadcom stock investors receive a 2.91% dividend. The BofA Securities price target is $780, while the consensus target is lower at $677.67. The stock traded at $579.00 early Tuesday.

ALSO READ: Top Wall Street REIT Analyst Has 7 ‘Strong Buy’ Inflation-Fighting Stock Picks With Big Dividends

HP

Legendary investor Warren Buffett stunned Wall Street last month when Berkshire Hathaway reported a purchase of 121 million shares of the venerable tech giant. HP Inc. (NYSE: HPQ) provides personal computing and other access devices, imaging and printing products and related technologies, solutions and services in the United States and internationally.

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