Over the past six months, the Technology Select Sector SPDR Fund (XLK) gains of 20.8% outperformed the SPDR S&P 500 ETF Trust’s (SPY) 7.3% gains. However, due to the omicron variant, inflationary pressures, and climbing treasury yields, popular tech stocks with high prices might experience a pullback.
Hence, lesser-known tech stocks Nutanix, Inc. (NTNX), Cerence Inc . (CRNC), and Desktop Metal, Inc. (DM) might be ideal additions to one’s watchlist. Wall Street analysts see more than 55% upside potential for these stocks.