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Tech stocks are arguably one of the most popular worldwide. One reason is the way they penetrate the daily lives of people. E-commerce, smartphones, and software are relied upon by nearly everyone, individuals or companies. But these factors may not mean that all technology stocks make for a good investment. Fundamentals like products and services, market share and dominance, and profit-making ability matter a lot. An investor must pay heed to the profit-making model of the company before investing in the stock.

It may be said that no time is arguably a bad time to dive into tech stocks. The reason is the sector has yet to mature. There are a lot of new developments, for example, tech giant Meta's focus on the potential of the virtual reality space. It may be a good idea to first look at what the company, which the stock represents on the exchange, is planning to do in the near-to-medium term. If there appears a chance that there would be demand for its products and/or services, it may be the right time to consider the stock.

The S&P/TSX Capped Information Technology Index took a bit of a beating earlier this year and is still in the red by nearly 20 per cent year-to-date. However, on March 28 it had risen 1.79 per cent, despite the TSX Composite Index closing in the red, and it is in the green month-to-date. It might seem that it is on the rebound. Stocks vary from time to time based on market conditions, but as of writing this, the stocks that made for an interesting watch as below: Shopify (TSX:SHOP) is generally one the TSX technology index’s biggest stock by market capitalization. It was among the day’s biggest gainers on March 8 along with BlackBerry Ltd (TSX:BB), Converge Technology Solutions (TSX:CTS) and Docebo Inc (TSX:DCBO). All these stocks are in the red on a year-to-date basis but in the green either in the last seven days or the last month.

A good technology stock may be one that represents an entity that is forward-looking and has the vision and capacity to produce goods and/or services in a fast-moving world. Technology rises fast, and it may also become obsolete fast. This is why tech giants either adopt new trends or acquire comparatively smaller companies that have already made progress in an emerging technology. Separately, fundamentals like cash flow, revenue growth, market share, and dividends may also be considered to identify a good technology stock.