Investors may scoop up healthy returns in the long run if they pick out stocks with strong long-term prospects and give them time to grow. Tech stocks were hit particularly hard by this year's downturn. Here are five stocks that some of the top pros on Wall Street have singled out, according to TipRanks.

Alphabet (GOOGL) managed to stand its ground, backed by the rapid adoption of cloud computing and the popularity of its search engine. Monness Crespi Hardt analyst Brian White acknowledges that regulatory headwinds, a volatile equity market, and the unpredictable geopolitical situation call for a cautious stance on the near-term stock performance prospects.

Alphabet has generated sales and operating profits of 23% and 27% per annum, respectively, over the last five years. This year, the economic downturn might affect digital ad spending budgets across industries. Nonetheless, the comapny's diverse portfolio will help spread out the risks and mitigate the impacts of headwinds.

White trimmed his price target for Alphabet to $2,900 ($145 adjusted for the 20:1 stock split, scheduled to complete after the business closes for the day on July 15), from $3,500. However, he reiterated a buy rating on GOOGL, demonstrating his optimism in the long-term prospects of the company.

Micron's near-term prospects have been clouded by various macroeconomic pressures. The persistent shrinking of PC and smartphone demand over the past few months led to an inventory correction across DRAM and NAND memory semi-components. Evercore ISI analyst C.J. Muse expects this to continue hurting the company in the second half of the year before recovering sometime in 2023.
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