10 Cheap Technology Stocks to Buy According to Hedge Funds

4. Applied Materials, Inc. (NASDAQ:AMAT)

Forward P/E: 17.01

Number of Hedge Fund Holders: 80

Applied Materials, Inc. (NASDAQ:AMAT) is an American corporation that specializes in materials engineering solutions for the semiconductor, flat panel display and solar photovoltaic (PV) industries. The company supplies equipment, services, and software for the manufacture of semiconductor chips, advanced displays, and solar products. Applied Materials, Inc. (NASDAQ:AMAT) ranks among the top cheap tech stocks to buy.

The company is focused on enhancing its manufacturing capabilities and advancing materials engineering to drive innovation in semiconductor technologies. Applied Materials, Inc. (NASDAQ:AMAT) is making significant multi-billion-dollar investments to expand its global manufacturing capacity in the US and Singapore by 2030. Through these investments, the company aims to enhance collaboration with customers and meet the growing global demand for semiconductors.

In February 2025, Applied Materials, Inc. (NASDAQ:AMAT) announced the SEMVision H20 system, a new defect review tool to help leading semiconductor manufacturers continue pushing the limits of chip scaling. This system combines the industry’s most sensitive electron beam (eBeam) technology with advanced AI image recognition to detect nanoscale defects in complex 3D chip structures more efficiently. By enabling faster and more accurate defect analysis, the new defect review and inspection tool helps improve production yield and factory cycle times.