10 Cheap Technology Stocks to Buy According to Hedge Funds

7. Hewlett Packard Enterprise Company (NYSE:HPE)

Forward P/E: 9.41

Number of Hedge Fund Holders: 66

Hewlett Packard Enterprise Company (NYSE:HPE) is an American multinational information technology (IT) company that provides a range of solutions including servers, storage, networking equipment, software, and consulting services. The company is focused on enterprise-level needs with its offerings spanning cloud services, edge computing technologies, hybrid cloud, software, and networking. Hewlett Packard Enterprise Company (NYSE:HPE) is one of the best cheap tech stocks to buy.

The company is looking to strengthen its position in AI-driven networking by acquiring Juniper Networks, a leader in AI-native networks. This transaction, which is on track to close in the first half of 2025, is expected to double Hewlett Packard Enterprise Company’s (NYSE:HPE) networking business. The company is strategically focused on capitalizing on the growing demand for secure, AI-powered, and hybrid cloud solutions by creating a comprehensive portfolio that presents customers and partners with a compelling new choice to drive business value. This acquisition aligns with Hewlett Packard Enterprise Company’s (NYSE:HPE) goal of shifting toward higher-growth solutions and strengthening its high-margin networking business.