The tech sector has been hit hard by the market volatility and the uncertain macroeconomic outlook in September 2023. Many investors have been selling their tech stocks. Investors fear that the high valuations are unsustainable and that the growth prospects are dimming. However as the popular saying goes, “be greedy when others are scared.”  Not all tech stocks are created equal, and many of which could have been oversold during September’s market rout.

The three tech stocks below feature strong fundamentals, innovative products and a reliable customer base. These stocks also have the possibility to reap investors market-beating returns during times of growing bearish sentiments.

Nvidia (NVDA)

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Nvidia (NASDAQ:NVDA) is the undisputed leader in the graphics processing unit (GPU) market, which is essential to gaming, artificial intelligence, cloud computing and autonomous driving. The capability of Nvidia’s GPUs to power language learning models, which help train language-based AI, has driven their unabating demand and popularity. Even an ongoing slump in the semiconductor market has not prevented Nvidia from achieving record beating earnings in 2023. This is due to strong sales growth in server GPUs and AI-powering chips. Furthermore, the graphics card designer also delivered guidance projections well above the expectations of many market analysts. This indicates strong demand for its products across all segments.

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Shares have skyrocketed 213.1% year-to-date, ballooning Nvidia’s market capitalization to above the $1 trillion mark. Nvidia’s forward price-to-earnings ratio has come down from the astronomic highs reached early this year. As a result, it is perhaps the best time to place long-term bets on the chipmaker’s shares. As the AI revolution continues, investors can rest assured that Nvidia’s chips will be a part of it.

BYD (BYDDY)

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BYD (OTCMKTS:BYDDY) is a Chinese electric vehicle (EV) maker backed by legendary investor Warren Buffett. The company has begun to make waves in the EV industry globally, especially after the company dethroned Tesla in 2022 as the largest EV maker in the world. However, BYD has not stopped there. BYD’s competitive edge actually lies in its vertical integration strategy. This allows it to produce its own batteries, motors and other key components. As a result, BYD reduced costs and increased efficiency as a result of economies of scale. The company plans to play a direct role in supplying battery technologies to the burgeoning electric vehicle sector. They recently ousted LG as the world’s number two EV battery supplier.