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3 Tech Stocks to Buy and Hold for the Long-Term

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Because the demand for advanced technology solutions is expected to continue rising with digital transformation in almost every industry, we think it could be wise to buy and hold fundamentally strong tech stocks AudioCodes (AUDC), Kimball Electronics (KE), and Issuer Direct (ISDR). Let’s discuss.

It’s no surprise that the demand for advanced technology-based products and services has increased exponentially amid the COVID-19 pandemic. As COVID-19 cases continue to rise and several industries undergo a digital transformation, the technology industry could continue growing for the foreseeable future. Investors’ interest in tech stocks is evidenced by the technology Select Sector SPDR Fund’s (XLK) 16% gains over the past three months.

Last week, the tech-heavy Nasdaq hit a record high as the Federal Reserve’s comments eased fears of a sudden tapering of monetary stimulus and boosted optimism around the economic recovery. Furthermore, with technology playing a pivotal role in enabling remote work and digitalization, the industry is expected to grow. According to a Gartner, Inc. (IT) report, governments globally are expected to spend $557.3 billion in 2022 on information technology, representing a 6.5% year-over-year rise.

Therefore, it could be wise to bet on quality tech stocks AudioCodes Ltd. (AUDC), Kimball Electronics, Inc. (KE), and Issuer Direct Corporation (ISDR). They are expected to perform well for the foreseeable future due to their promising product portfolios and continuing innovations.

AudioCodes Ltd. (AUDC)

Headquartered in Lod, Israel, AUDC is a leading provider of advanced communications software, products, and productivity solutions for the digital workplace. The company’s broad portfolio of products and services includes Media Gateways, IP Phones, Media Servers, Value Added Applications, and Professional Services.

In the second quarter, AUDC bought back 236,544 of its shares under its share repurchase program for $7.1 million. In addition, the company paid a $0.17 quarterly dividend per share on August 26. It has increased its dividends for the past three years, which represents its financial strength.

AUDC’s total revenue........

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