By Thursday close, the S&P 500 Index lost about $2 trillion in market capitalization from all-time highs reached at the end of January. Amid last week’s sell-off, the tech sector was one of the hardest hit, leaving a few stocks at relatively inexpensive levels, according to one team of bulls on the Street. 
In an interview with CNBC on Friday, Susquehanna Capital Group’s Stacey Gilbert highlighted Broadcom Ltd. (AVGO), Inc. (AMZN) and Micron Technology Inc. (MU) as “three names we love,” as the market enters a period of increased volatility. 
The investment bank recommended buying the three tech stocks, which are now trading at significant discounts to the analyst’s 12-month price targets, based on growth opportunities in the cloud and other high-flying segments such as artificial intelligence (AI). (See also: Crypto, Gaming to Boost NVIDIA Amid Sell-Off.)

Beating the Competition

Last week, chipmakers Broadcom and Micron dipped just 1%, faring much better than the larger XLK Technology ETF (XLK), which suffered a 6% decline. Broadcom stock rallied and then sold off after its secondary bid for competitor Qualcomm Inc. (QCOM) was rejected last week. AVGO, which closed up 3.8% on Monday at $244.40, should benefit from its exposure to the AI space, said Gilbert. 

Boise, Idaho-based Micron saw its best one-day performance since December 2016 early last week on upbeat second-quarter guidance. The Street has continually highlighted strength in the DRAM and NAND flash memory industries as providing upside to MU, which recovered 4.4% by Monday close. 
E-commerce and cloud computing giant Amazon, which suffered a 7% fall alongside its FANG peers last week, is a long-term pick based on its Amazon Web Services (AWS) business, according to the Susquehanna analyst. The Seattle-based retailer’s public cloud platform grew revenues a whopping 45% in the last quarter to $5.1 billion. AMZN stock also recovered Monday, closing up 3.5% at $1,386.23. (See also: Apple Is a Safe Bet Amid ‘Market Turmoil’: BofA.)

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