Why 6 ‘Strong Buy’ Dow Technology Stocks Are the Perfect 2024 Ideas

Cisco provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points and servers, as well as next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice and video applications.

Its cybersecurity products give clients the scope, scale and capabilities to keep up with the complexity and volume of threats. Putting security above everything helps corporations innovate while keeping their assets safe.

The networking giant is morphing into a cybersecurity and observability leader. In a recently announced definitive agreement, Cisco intends to acquire Splunk for $157 per share in cash. That represents approximately $28 billion in equity.

Investors receive a 2.94% dividend. Raymond James has set its target price at $65. The consensus is just $50.23, and Cisco Systems stock closed at $53.45 on Friday.

IBM

This blue chip giant still offers investors quite a solid entry point. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions. It offers a broad portfolio of IT hardware, business and IT services, and a full suite of software solutions. The company integrates its hardware products with its software and services offerings in order to provide high-value solutions.

Analysts have cited the company’s potential in the public cloud as a reason for their positive outlook going forward. The cloud proved to be big when the company posted a strong second quarter earnings report. The open hybrid cloud technologies of Red Hat, the software giant the firm bought in 2019, are now paired with the unmatched scale and depth of IBM’s innovation and industry expertise, and its sales leadership in more than 175 countries.

IBM stock comes with a 4.69% dividend. The $188 Royal Bank of Canada price target is a Wall Street high. The $146.76 consensus target is closer to Friday’s $142.03 closing share price.

Intel

This legacy leader in semiconductors has been hammered, and while some feel it is a value trap, it is hard to count out the company that defined the semiconductor revolution. Intel Corp. (NASDAQ: INTC) designs, manufactures and sells integrated digital technology platforms worldwide.

The platforms are used in various computing applications, comprising notebooks, two-in-one systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, retail devices and manufacturing devices, as well as for retail, transportation, industrial, buildings, home use and other market segments.

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