Written by Amy Legate-Wolfe at The Motley Fool Canada
Tech stocks had a rough week. Especially the Magnificent Seven, which were a bit less than magnificent when it came to share performance. Even though most reported great results! Investors, however, weren’t as impressed with how tech stocks were using artificial intelligence (AI), and how costs continued to weigh on profits.
But even the Magnificent Seven didn’t perform all that great. There is another tech stock I would consider for some strong cash, even now. And that’s CGI (TSX:GIB.A).
Earnings up
CGI reported earnings this week that beat out earnings estimates for yet another consecutive quarter. The business and technology consulting company reported first-quarter profit and revenue that was up compared to the year before.
The tech stock earned $389.8 million for the quarter, up from $382.4 million the year before. This came to $1.67 per diluted…
