10 Best Tech Stocks To Buy Right Now Under $10

Published on July 26, 2023 at 2:12 pm by Fatima Farooq in Hedge Funds, News

In this article, we will be taking a look at the 10 best tech stocks to buy right now under $10. To skip our detailed analysis of the tech industry in 2023, you can go directly to see the 5 Best Tech Stocks To Buy Right Now Under $10.

Tech: The Market’s Saving Grace

The technology sector has been the stock market’s saving grace so far in 2023, with semiconductor companies and artificial intelligence (AI) companies taking the lead among all others. The situation surrounding these companies in the market today has led many investors to rejoice while others are more cautious, wondering whether the popularity of AI, in particular, is just a hype cycle or a transformational development that is here to stay. Some financial professionals are dubbing AI popularity today as nothing more than a bubble that will inevitably burst at some point, while others are more optimistic about the prospects of tech and AI companies in the years to come.

On July 25, CNBC’s TechCheck delved into the question of whether the AI hype is justified or not. According to CNBC, “pristine balance sheets, wide moats, generative AI” and a few other factors such as “ever higher valuations” and “greater concentration in a handful of names” among the mega-cap tech companies in the market today have managed to spell out a convincing bullish case for the technology sector in 2023. Investors and financial professionals have seen these factors come into place this year to such an extent that no one can really deny the widespread influence of technology companies on the market and the economy as a whole. The industry has seen immense outperformance during the first half of 2023, with Bernstein analysts noting that tech is currently trading at a “54% premium to the market.” This figure is the highest the industry has seen in reportedly 45 years, apart from the dot-com bubble.

For some, these developments may seem to be alarming, especially if they believe that companies operating within this space will not be able to live up to the hype they have created around themselves so far. Additionally, CNBC notes that in order to justify the current hype around generative AI and its applications, AI companies will have to highlight precise revenue figures drawn from AI-related operations to make investors and analysts feel more at ease. NVIDIA Corporation (NASDAQ:NVDA) is currently one of the only companies out there that has actually managed to pinpoint AI-driven revenues in 2023. This reality highlights both a hope for the future of other companies embarking on AI projects and a fear that these companies may not be able to match the performance of this major chipmaker. Companies like Microsoft Corporation (NASDAQ:MSFT), which has been doling out a $30 per month AI subscription, will really have to step on it to generate adequate returns from such operations if they wish to keep their investors satisfied.

Everyone Wants A Piece Of AI

Additionally, some professionals are worried that, for the most part, only large-cap tech players, such as Apple Inc. (NASDAQ:AAPL) and others mentioned above, have anything to gain from the tech rally we’ve been seeing so far. But such concerns are likely to be unfounded as companies across the industry are working on innovative products involving new technologies and AI to stay in the race with their competitors. The leadership displayed by the tech sector is continuing to prove wary investors wrong this year, and the primary reason behind this is the involvement of AI. Considering this trend, even companies like Apple Inc. (NASDAQ:AAPL), which managed to stay out of AI-related financial news for most of this year, have begun to acknowledge the importance of having a firm footing in this space considering the rapid spread of this technology after the launch of ChatGPT. For example, on July 19, news began to spread that Apple Inc. (NASDAQ:AAPL) has its own ChatGPT equivalent platform in the works. According to Bloomberg, some are already beginning to call this product “Apple GPT,” considering it to be a generative AI tool that can rival ChatGPT upon its release, which is expected to be sometime next year.

This move highlights the fact that all tech companies today are beginning to realize that the AI bandwagon is one they must jump on, and the same holds true for many smaller tech companies as well. Considering the widespread influence of this industry in the market today, we have compiled a list of some tech stocks to buy right now under $10. These will offer investors some options if they are looking to enter the tech industry affordably since these are some of the best cheap stocks to buy today, according to hedge fund sentiments. They may even be considered to be stocks under $10 with high potential, making them good investment prospects today.

Our Methodology

We used a stock screener to find technology stocks trading below $10 on July 25 and picked some of the most popular stocks among hedge funds this year using Insider Monkey’s hedge fund data for the first quarter. The stocks are ranked based on the number of hedge funds holding stakes in them, from the lowest to the highest number.

Best Tech Stocks To Buy Right Now Under $10

10. CS Disco Inc. (NYSE:LAW)

Number of Hedge Fund Holders: 15

Share Price as of July 25: $9.04

CS Disco Inc. (NYSE:LAW) is an application software company based in Austin, Texas. The company provides cloud-native and artificial intelligence-powered legal solutions for e-discovery, legal document review, and case management. It offers its products and services to enterprises, law firms, legal services providers, and governments.

As of May 11, Parker Lane, an analyst at Stifel, maintains a Buy rating on shares of CS Disco Inc. (NYSE:LAW).

CS Disco Inc. (NYSE:LAW) was spotted in the portfolios of 15 hedge funds in the first quarter of 2023, with a total stake value of $24.9 million.

At the end of the first quarter, Solel Partners was the largest shareholder in CS Disco Inc. (NYSE:LAW), holding 2.5 million shares in the company.

Wasatch Global Investors said the following about CS Disco Inc. (NYSE:LAW) in its fourth-quarter 2022 investor letter:

“CS Disco, Inc. (NYSE:LAW) has faced significant challenges recently. This legal-technology company provides a cloud-based platform of artificial-intelligence solutions for e-discovery, legal-document review and case management. Because CS Disco has a limited history as a publicly traded company and is aggressively spending cash to fund its growth, skeptical investors drove the stock price down. Moreover, the legal-document review segment of the company’s business depends on incremental usage that’s extremely volatile because the segment is very early in the adoption cycle. Based on our visit and our discussions with customers, we’re cautiously optimistic that adoption will ramp up, volatility will decline and revenue per client will grow. In addition, CS Disco’s large cash position could help the company to realize the market opportunity for its cloud-based platform, which we believe has the potential to make the legal industry much more efficient.”

9. GoPro, Inc. (NASDAQ:GPRO)

Number of Hedge Fund Holders: 19

Share Price as of July 25: $4.08

Alicia Reese, an analyst at Wedbush, maintains an Outperform rating on shares of GoPro, Inc. (NASDAQ:GPRO) as of May 10. The analyst also placed a $6 price target on the stock.

GoPro, Inc. (NASDAQ:GPRO) is a consumer electronics company that develops and sells cameras, mountable and wearable accessories, and subscription services and software internationally. The company is based in San Mateo, California.

There were 19 hedge funds long GoPro, Inc. (NASDAQ:GPRO) in the first quarter. Their total stake value in the company was $65.5 million.

Like NVIDIA Corporation (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT), GoPro, Inc. (NASDAQ:GPRO) is a tech stock that is highly popular among elite hedge funds today.

8. ON24, Inc. (NYSE:ONTF)

Number of Hedge Fund Holders: 20

Share Price as of July 25: $8.44

Lynrock Lake was the largest shareholder in ON24, Inc. (NYSE:ONTF) at the end of the first quarter, holding 7.3 million shares in the company.

ON24, Inc. (NYSE:ONTF) is an information technology company based in San Francisco, California. The company offers a cloud-based digital engagement platform that enables businesses to convert customer engagement into revenue by utilizing webinars, virtual events, and multimedia content experiences across the globe.

Brent Bracelin, an analyst at Piper Sandler, reiterated a Neutral rating on shares of ON24, Inc. (NYSE:ONTF) on May 10. The analyst also maintained a price target of $9 on the shares.

ON24, Inc. (NYSE:ONTF) was seen in the 13F holdings of 20 hedge funds in the first quarter, with a total stake value of $160 million.

7. Zeta Global Holdings Corp (NYSE:ZETA)

Number of Hedge Fund Holders: 21

Share Price as of July 25: $8.86

Our hedge fund data for the first quarter shows 21 hedge funds holding stakes in Zeta Global Holdings Corp. (NYSE:ZETA). Their total stake value in the company was $250.5 million.

A Buy rating was reiterated on shares of Zeta Global Holdings Corp. (NYSE:ZETA) by Ryan MacDonald, an analyst at Needham, on May 18. The analyst also maintained a price target of $13 on the shares.

Zeta Global Holdings Corp. (NYSE:ZETA) is another application software company on our list based in New York. The company operates an omnichannel data-driven cloud platform. The platform aims to provide enterprises with consumer intelligence and marketing automation software both in the US and internationally.

Like NVIDIA Corporation (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT), Zeta Global Holdings Corp. (NYSE:ZETA) is a tech stock many hedge fund investors are piling into this year.

6. MagnaChip Semiconductor Corporation (NYSE:MX)

Number of Hedge Fund Holders: 23

Share Price as of July 25: $8.74

MagnaChip Semiconductor Corporation (NYSE:MX) is a semiconductor company operating in the information technology sector. The company is based in Cheongju-Si, South Korea. It designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions. Its products are used in communications, the Internet of Things, consumer, industrial, and automotive applications.

We saw 23 hedge funds holding stakes in MagnaChip Semiconductor Corporation (NYSE:MX) in the first quarter of 2023, with a total stake value of $99.2 million.

As of June 23, Rajvindra Gill, an analyst at Needham, holds a Buy rating on shares of MagnaChip Semiconductor Corporation (NYSE:MX). The analyst also maintains a price target of $13 on the shares.

Toronado Partners was the most prominent shareholder in MagnaChip Semiconductor Corporation (NYSE:MX) at the end of the first quarter, holding 2.7 million shares in the company.

Click to continue reading and see the 5 Best Tech Stocks To Buy Right Now Under $10.

Disclosure: None. 10 Best Tech Stocks To Buy Right Now Under $10 is originally published on Insider Monkey.

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AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on December 13, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

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Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

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Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

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The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

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Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

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China’s terrifying internet “Master Key”… and the one microcap that could stop them

Published on December 18, 2024 at by Insider Monkey Staff

In August 2024, news outlets around the world revealed one of the most shocking data breaches in recent history.

Approximately 2.9 billion records, including names, email addresses, phone numbers, mailing addresses, financial data and, distressingly, Social Security numbers, were stolen when Coral Springs, Florida, firm National Public Data (NPD) suffered a massive cyberattack. The company confirmed that the breach, which happened in December 2023, resulted in the potential leaks of data in the summer of 2024.

Nearly every day in the news, we hear about yet another damaging data breach or ransomware attack that puts valuable data — including yours — into the hands of hackers. And the number of attacks is soaring — up 30% year over year according to the latest numbers.

As bad as this is, it’s a day at the beach compared to what’s coming.

That’s because hostile nations across the globe — including Iran, North Korea, Russia and Communist China are going all-out to develop a breakthrough technology that will unlock what I call the “Master Key” to the Internet.

If they succeed in harnessing this groundbreaking “Master Key” technology, the consequences could be catastrophic.

Click to continue reading…

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