The 3 Most Undervalued Software Stocks to Buy in June 2024 | Markets

The following software companies have been battered of late, but represent great value for tech investors.

The tech-heavy Nasdaq 100 has been on an impressive run this year. It is now up 15% year-to-date, outpacing the S&P 500 by a slight margin and the Dow Jones Industrial Average by a landslide. As the tech-led rally heads into summer, things will get interesting, especially for investors looking for the Federal Reserve to follow the Bank of Canada’s lead by announcing its first rate cut.

Just because Canada is cutting doesn’t mean the Fed is bound to follow shortly after. After all, inflation has hit the U.S. somewhat differently than in Canada. Either way, as other nations slash rates, U.S. investors may be positioning their bets well ahead of the Fed’s first move, especially concerning pricy tech stocks. If we are in for a lower-rate world again, perhaps today’s seemingly expensive AI-led tech leaders aren’t as frothy as they seem.

If you’re looking for undervalued software stocks, look no further than the following names, which have lagged not only the Nasdaq 100 but the market as a whole in 2024.

Undervalued Software Stocks: ServiceNow (NOW)

ServiceNow (NASDAQ:NOW) is an enterprise software firm that’s been dragging its feet so far this year, with NOW stock up just 2% year-to-date….

Source investorplace.com

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