If You Can Only Buy One Tech Stock In July, It Better Be One Of These 3 Names

Industry Overview - The tech industry has achieved year-to-date returns of 28.33%, outperforming the S&P 500's 17.73% gain [1] - Companies in the tech sector are expected to release their Q2 returns, which could positively impact share prices [2] Company Analysis: Endava (DAVA) - Endava is a British IT firm primarily serving the financial sector, which accounts for over half of its revenue [4] - The company reported a year-over-year revenue decline of 14.3% to £174.4 million and a drop in adjusted EPS to £0.22 from £0.59 [5] - Analysts forecast an average price target of $41.83 for Endava, indicating a potential upside of 42.57% from its current price of $32 [7] Company Analysis: Taiwan Semiconductor (TSM) - Taiwan Semiconductor is a leading semiconductor manufacturer, receiving significant government grants to expand operations [8] - The company reported Q1 fiscal 2024 revenue of $18.22 billion, a 16.5% year-over-year increase, and net income of $6.93 billion, up 8.9% [9] - Analysts have set an average price target of $185.14 for TSM, with a potential upside of 0.35% [10] Company Analysis: NICE (NICE) - NICE focuses on customer engagement solutions and reported a 15% year-over-year revenue growth to $659.3 million in Q1 fiscal 2024 [12] - The company expects non-GAAP revenue for Q2 to be between $657 million and $667 million, representing a 14% year-over-year growth [13] - Analysts project an average price target of $272.07 for NICE, indicating a potential upside of 59.56% [14]