Legacy techs still have long-term appeal

Article Excerpt

The recent market downturn has hit technology stocks especially hard. Their inherent volatility is why we advise investors to stick with well-established tech firms with popular products and services, such as Apple, Microsoft and Intel. All of them remain in a strong position to quickly rebound with the overall market. Even so, Microsoft and Intel are your best picks for new buying. APPLE INC. $168 is still a hold. The company (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 16.1 billion; Market cap: $2.7 trillion; Price-to-sales ratio: 7.1; Dividend yield: 0.5%; TSINetwork Rating: Average; www.apple.com) now gets about half of its revenue from iPhone sales. The other half comes from sales of its Mac computers, iPad tablets and other products and services. In the company’s fiscal 2022 third quarter, ended June 25, 2022, Apple’s overall sales rose 1.9%, to $82.96 billion from $81.43 billion a year earlier. Sales of products (76% of the total) fell 0.9%, as lower sales of Mac computers…

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