Why It's the Best Time to Buy Tech Stocks InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe current crisis will accelerate the development of breakthrough tech. They can solve today's soaring prices, so get bullish on...

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Yesterday, tech stocks did something that they haven't since Covid-19 emerged in March 2020: They entered a bear market.

By classical definition, a bear market is a drop of 20% or more in a group of stocks from recent highs. After yesterday's beating, the tech-heavy Nasdaq Composite closed 20.1% off its November highs.

Spooky stuff – but also exciting stuff if you're a long-term investor.

The reality is that every bear market in U.S. history has represented a golden buying opportunity. And that is especially true for tech stocks. During each downturn, technology tends to soar hundreds of percent over the subsequent few years.

You might read the headline "Tech Stocks Enter Bear Market" and fret over the U.S. economy's state of affairs. But I read that headline and get super bullish — the opportunities emerging in the markets right now are incredible.

Trust me when I say they could set you up for life.

You just have to know where to look.

Tech Innovation Is the Solution to the Current Crisis

Though tech stocks are getting crushed, next-gen technology products and services are the solution to the world's myriad problems.

Consider soaring oil and gas prices. Thanks to impending sanctions on Russian exports, oil prices just hit a 13-year-high, while the national average price of gas now stands at over $4 per gallon. And consumers are feeling the pinch. Refueling costs are absurd these days, and your next heating bill promises to be bigger than you've seen in years, too.

The fix — a pivot to electric vehicles and renewable energy. In a world where your car and home don't require gas, you aren't hurt by those rising prices.

Of course, we don't get to that world unless we keep pushing forward on solid-state battery development… or perovskite-powered solar panels… or green hydrogen production. And that's why the current crisis will only accelerate the investment in and development of these breakthrough technologies. They are the solution to today's soaring fossil fuel prices.

Yet, stocks related to this innovative tech are getting crushed. Buying opportunity? You betcha!

Or how about those soaring wheat prices (also thanks to economic sanctions on Russia)? That's going to make your groceries way more expensive. But it doesn't have to…

The Potential in Tech Stocks

We are in the early stages of using DNA synthesis to make certain foods without needing wheat. At scale, this could eliminate the globe's dependence on wheat for sustenance. And in that world, rising wheat prices don't hurt the consumer.

Again, we firmly believe that investment in and development of DNA synthesis technologies will only accelerate in the coming months. Yet, those stocks are getting crushed in this market.

Buying opportunity? Right again!

And let's talk diamonds. Russia is a huge exporter of diamonds. Those are about to go off the market, thanks to sanctions. Prices are going to soar. Suddenly, your child won't be able to afford that nice engagement ring.

And the fix? Technology, of course — specifically, lab-grown diamonds that are, as the name implies, grown in labs, as opposed to mined from deep in the Earth. These are made using advanced technological processes that mimic the conditions under which natural diamonds develop in nature. Through these duplicated processes, companies can create lab-grown diamonds that have the same physical, chemical, and optical characteristics as their natural counterparts. As a result, they exhibit the same fire, scintillation, and sparkle.

They are truly and scientifically indistinguishable from natural diamonds — except for the fact that they aren't from Russia and, therefore, are going to be way cheaper in this market.

And yet again, investment in and development of lab-grow diamond technologies will only accelerate in the coming months. And lab diamond stocks have been crushed. It's another… you guessed it… buying opportunity.

So Many 10X Opportunities in Tech Stocks Today

Across the board, innovation is the key to solving essentially all the world's current problems. And yet all the stocks related to those innovative technologies are getting crushed today.

The result is a sea full of 10X potential investment opportunities in tech stocks.

There's one company, for example, that's turning the housing industry upside-down with a revolutionary new way to buy and sell homes. And its stock has been demolished. From current levels, our models suggest it could rise much more than 10X over the next few years alone.

There's another that is working on "forever battery" technology that will redefine the electric vehicle and renewable energy industries. Its stock, too, has been crushed — leaving our models to predict about 10X upside potential in that name.

And there's yet another, which is making a banking app that will one day replace Wells Fargo (NYSE:WFC) and Bank of America (NYSE:BAC). Its stock has been destroyed as well. From current levels, we think it has much more than 10X upside potential.

Everywhere we look, folks, we're seeing huge opportunities in tech stocks — opportunities that, quite frankly, only come around about once every decade.

Take the Road Less Traveled

When stocks are falling, it's easy to run, hide and seek cover in a savings account.

But no one ever got rich by taking the easy route.

As someone who has successfully pinpointed over 20 10X investment opportunities before I even turned 26, the path of least resistance is often the path of lowest returns.

The corollary, of course, is that the path of most resistance — that few are bold enough to take — is one where you can make a lot of money in the markets.

Right now there's a fork in the road, and you have a choice. You can either pick the easy path and make 5% or less returns a year with dividend stocks, or you can pick the harder path and put yourself in a position to make 10X-plus returns over the next few years.

To me, the choice is obvious. I'm already busy looking for all the 10X opportunities that are emerging in the markets right now.

Join me on the right path forward.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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