Tech stocks have enjoyed an incredible rally over the past three months. The Federal Reserve seems set to cut rates at some point in 2024. Investors are getting ahead of that by buying into firms, such as technology companies, that will benefit from lower interest rates.

However, that has pushed valuations up to lofty levels for many leading tech stocks. So, is it too late to get in on the current tech stock rally? Fortunately, a few high-quality tech stocks are still selling at attractive prices today. Here are three of the top tech stocks for January.

Taiwan Semiconductor Manufacturing (TSM)

Taiwan Semiconductor Manufacturing (NYSE:TSM) is the world’s dominant semiconductor foundry, surpassing 50% total market share in recent years.

Semiconductor foundries are a key part of the tech ecosystem. That’s because many chip companies don’t want to worry about manufacturing their own chips but outsource that task to a third party. Various firms, including TSM, Samsung and Intel (NASDAQ:INTC) own foundries to serve these customers. However, TSM has unmatched technical capabilities and scale.

TSM stock is still going for just 26 times forward earnings, a fine price for a fast-growing firm in an industry riding such a powerful long-term growth trend. The relatively low valuation is likely due to worries about Taiwan’s geopolitical situation. However, with the company investing heavily in new manufacturing facilities, TSM is on better footing than people may think.

Keysight Technologies (KEYS)

Keysight Technologies (NYSE:KEYS) provides product testing, quality assurance and design solutions to technology companies.

The company started operations as part of Hewlett-Packard’s (NYSE:HP) Test & Measurement division more than half a century ago. Keysight ultimately became its own publicly traded company in 2014 following a spin-off.

Keysight enjoyed tremendous initial success, with shares surging from $30 at the time of the spin to a peak of more than $200. However, shares have cooled off over the past two years amid a downturn in several key technology verticals.

Specifically, Keysight is mostly tied to telecom and mobile communications. 5G’s underwhelming debut compared to expectations slowed down Keysight’s momentum. Other Keysight segments, such as services for edge computing and RFID functions, have fallen from peak 2021 and 2022 levels as well.

This should be the year things turn around. KEYS already started to rally as investors were encouraged about the firm’s exposure to AI and next-generation semiconductors. Once telecom demand picks back up as well, the stock should be set to soar.

PayPal Holdings (PYPL)

During the pandemic, e-commerce went through a boom phase. With physical stores closed, consumers had to turn to websites and apps for shopping. PayPal (NASDAQ:PYPL) and other digital payment platforms saw their stocks skyrocket amid rapid customer adoption.

All that momentum has disappeared. PYPL stock lost more than 80% of its value from its all-time high, set back in 2021.

Investors concluded that payment platforms are a commodity product, and both growth rates and profit margins are set to decline. That may well be true, at least to some extent.

However, it seems PYPL stock has been overly punished due to these concerns. When looking at the actual operating results, PayPal’s situation is not nearly as bad as it might seem.

The company is continuing to grow top-line revenues around 8% per year. Analysts are modeling double-digit annualized earnings per share growth going forward. That makes PYPL stock a bargain at less than 13 times forward earnings.

On the date of publication, Ian Bezek held a long position in KEYS stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.