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In 2022, the cryptocurrency market left many investors who had high hopes for sustained and dynamic returns feeling disheartened and seriously questioning their potential. While certain segments of that market may eventually bounce back, investing in cryptocurrency is clearly not for everyone (and it doesn’t have to be).

If you are looking to build your portfolio and are wary of the promised potential of cryptocurrencies, you might want to consider some strong businesses with robust future growth potential. Fortunately, you don’t have to look far to find companies that fit that bill, and many of them are trading at a discount right now.

Here are three powerhouse tech stocks you shouldn’t overlook as you build your portfolio in the new year.

1. Amazon

amazon (AMZN 1.74%🇧🇷 weathered more than a few market storms in its time and not only survived, but thrived well beyond them. Unlike some established companies that may have gone through their heyday, Amazon continues to show investors that it has an incredible ability to not only sustain, but also build on momentum within the range of massive markets it operates in, while simultaneously in which it explores new means of growth as a disruptor of existing and emerging markets.

Whether it’s the $904 billion US e-commerce market, of which Amazon controls a 40% share, the $474 billion streaming space, where the company has increased its share to 19% in the US alone, or the In the $217 billion global cloud computing industry, where it remains the market leader with a 34% total share, the tech giant has repeatedly proven that it is not to be underestimated.

Over the past five years, the company’s annual revenue, earnings and cash flow from operations have increased by 164%, 1,000% and 152%, respectively. Certainly, the immediate market environment has presented challenges for companies in virtually every industry, and Amazon is no exception to this pattern. While growth has slowed in recent quarters, Amazon continues to steadily increase its revenue and remains profitable while building on its strong cash position. The company ended the most recent quarter with cash on its balance sheet worth $35 billion.

Amazon’s strong core collection of businesses, its robust underlying financials and undeniable footprints in markets that have significant addressable opportunities bode well for its ability to grow beyond this challenging period. Long-term investors currently have a rare opportunity to acquire shares at a heavily discounted price, and it may be too good to pass up.

2.Microsoft

Microsoft (MSFT 0.23%🇧🇷 built its business around office productivity software, a market in which it still remains an indomitable leader. Microsoft currently controls an incredible 50% of that market. Of course, in the nearly five decades since its founding, Microsoft has grown into one of the biggest technology companies in the world, with a suite of products and services that few can rival.

From its software offerings used by individuals and businesses around the world to its PCs, computers, laptops and gaming devices, Microsoft technology solutions are synonymous with advancing the digital age. The company is second only to Amazon in its leadership of the cloud computing industry, controlling an incredible 21% market share globally with its Azure platform. Keep in mind that the cloud computing market is expected to achieve a compound annual growth rate of 16% between 2022 and 2030, reaching a valuation of $1.6 trillion by the beginning of the next decade.

It all boiled down to year after year of steady growth and profits for the company, which long-term investors are consistently rewarded for. Over the past decade, Microsoft has increased its annual revenue and earnings by 155% and 233%, respectively, while delivering a total return to shareholders of nearly 1,000%. And its dividend, which yields 1% based on current stock prices, has increased by about 200% over that 10-year period.

While consumers and businesses alike are cutting costs in today’s environment, which affects technology-centric companies across all industries, Microsoft continues to experience steady, albeit more subdued, growth. The most recent quarter saw its revenue increase 11% year-over-year to $50 billion, led by a 24% increase in Microsoft Cloud revenue. While earnings have declined year over year, in part due to foreign currency weakness, it still generated a net profit of $18 billion in the three-month period. Aside from the impending headwinds faced by equities in nearly every industry, Microsoft’s diverse portfolio of businesses could continue to deliver wins for the company and its shareholders for years to come.

3. Alphabet

Alphabet (GOOGL 1.68%🇧🇷 (GOOG 1.76%🇧🇷 is another name that needs no introduction. The tech giant, best known for being the parent of the world’s most used search engine, Google, is not immune to fluctuations in market sentiment and the further diversion of investor capital away from growth-oriented businesses. Even so, this is a tech stock that investors can feel confident buying and holding.

Alphabet controls over 90% of the global search engine market. The company makes most of its money from advertising. Alphabet generated $55 billion in advertising revenue in the third quarter of 2022 alone and controls approximately 30% of all digital ad spend globally. The company’s other major source of revenue is its cloud business, Google Cloud. The company currently controls the third largest share of the global cloud computing market, behind Amazon and Microsoft, with 11%.

To give you an idea of ​​the magnitude of Google and Google Cloud’s advertising businesses, these two businesses generated combined revenue of $61 billion in the third quarter, out of total revenue of $69 billion. Growth has slowed in recent quarters. Still, Alphabet’s third-quarter revenue increased 6% year-over-year, while net income totaled $14 billion for the three-month period. It ended the quarter with an incredible $116 billion in cash and investments on its balance sheet.

Spending on advertising and cloud services may slow in the near term amid the difficult macroeconomic environment. However, these expenses are non-negotiable for most companies in the long run. Alphabet comes from a position of strength, both in terms of its dominant positions in its core markets and its solid finances. In short, now seems like a great time to buy this stock at a discount and hold it forever.