10 Best NASDAQ Stocks Under $50 to Buy

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1. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders In Q2 2024: 75

Share Price: $23.92

Intel Corporation (NASDAQ:INTC) is the beleaguered American chip manufacturing giant that has been one of the worst performing stocks in 2024. The firm has been caught in the double bind of being unable to grow sales in a slow personal computing market underpinned by inflation yet having to invest in growth simultaneously to catch up with the world’s biggest and most advanced contract chip manufacturer TSMC. Rumors on the street suggest that Intel Corporation (NASDAQ:INTC) is being approached for takeovers, with the stock soaring by 3% in September after a WSJ report indicated Qualcomm’s interest. Key to the firm’s stock performance is its ability to remain profitable, establish a contract manufacturing division, and deliver on time with its 18A chip manufacturing process. Intel Corporation (NASDAQ:INTC)’s size also means that it is an important American company that could see additional government spending to help the firm until it recovers. However, the absence of short term catalysts means that the stock can struggle for a while before any potential gains.

ClearBridge Investments mentioned Intel Corporation (NASDAQ:INTC) in its Q2 2024 investor letter. Here is what the fund said:

“Within IT, Intel was the main detractor. Intel’s shares declined as higher profitability targets were pushed further out in the decade and skepticism lingers on the company’s ability to reclaim tech leadership. Our current position is modest in the context of the overall portfolio”

INTC tops our list of best NASDAQ stocks under $50. While we acknowledge the potential of INTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than INTC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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