10 Oversold Tech Stocks To Buy Right Now

3. Xerox Holdings Corporation (NASDAQ:XRX)  

Number of Hedge Fund Investors: 28  

Forward P/E Ratio as of October 15: 5.81  

YTD Performance as of October 15: -44.52%  

Xerox Holdings Corporation (NASDAQ:XRX) operates as a holding company, with its subsidiaries providing printers, scanners, supplies, and accessories.

Xerox Holdings Corporation (NASDAQ:XRX), once a household name in printing and copying technology, has struggled in recent years as the demand for physical document solutions has declined. However, the company is making efforts to pivot towards IT services and software solutions. Xerox Holdings Corporation (NASDAQ:XRX) is also exploring new business opportunities, including AI and 3D printing technologies.

The recent trend toward a return to the office can lead to increased use of the company’s products, and the need for cybersecurity, which is expected to grow over time. Xerox Holdings Corporation (NASDAQ:XRX) has developed many important technologies in the past, and it continues to spend on research and development, getting patents that could be important in the future.

The company has a strong plan in place to grow earnings and revenues, and it continues to develop and patent new technologies. Moreover, management is making comprehensive strategic changes to its operating model. The company expects stronger revenue growth in the second half of 2024, driven by equipment orders and new product launches. The company is also focusing on expanding its offerings in the A4 and A3 categories, while also exploring new segments in the production market.