10 Best Affordable Tech Stocks To Invest In Now

6. HP Inc. (NYSE:HPQ)

Forward P/E Ratio: 10.85

Earnings Growth This Year: 6.75%

Number of Hedge Fund Holders: 42

HP Inc. (NYSE:HPQ) is a major technology company that primarily focuses on personal computing and printing products. The company operates through three main segments including Personal Systems, Printing, and Corporate Investment.

It has been making significant developments with regards to artificial intelligence in both personal PC and Printing technology. During the fourth quarter results for fiscal 2024, the company announced that it has not only accelerated its structural cost-saving initiatives but is also simultaneously investing in growth areas, demonstrating a commitment to both efficiency and expansion. For instance, HP Inc. (NYSE:HPQ) introduced new AI-powered capabilities across its products. A standout feature is the HP AI Companion, which utilizes generative AI to assist users in managing tasks, analyzing files, and creating content efficiently.

Moreover, in collaboration with Zoom, it is working to enhance the functionality of AI Companion. This partnership aims to streamline meeting preparations and automate tasks based on meeting outcomes. The recent quarter was also marked as the third consecutive quarter of year-over-year growth in its Personal Systems segment, driven by strong commercial performance. The segment revenue grew 2% year-over-year to reach $9.6 billion. It is one of the best affordable tech stocks to invest in now.

Greenlight Capital stated the following regarding HP Inc. (NYSE:HPQ) in its Q2 2024 investor letter:

“In addition to gold, we had four material winners in our long portfolio this quarter. HP Inc. (NYSE:HPQ) jumped from $30.22 to $35.02. After seven quarters of declines, PC sales turned marginally positive during the quarter. The industry appears to be in the early stages of an upcycle, perhaps to be enhanced by recently launched AI-enabled PCs that are expected to ramp up over the next several quarters.”