12 Most Undervalued Tech Stocks to Invest in Now

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6. Seagate Technology Holdings plc (NASDAQ:STX)

Forward P/E Ratio: 13.04

Earnings Growth: 1465.13%

Number of Hedge Fund Holders: 46

Seagate Technology Holdings plc (NASDAQ:STX) is one of the most undervalued tech stocks to invest in now. It operates as a leading data storage solution provider. The company specializes in Hard Disk Drives and Solid State Drives, playing a critical role in enabling the AI revolution by helping cloud computing companies store data effectively.

While its HDDs and SDDs are already in high demand for cloud storage environments, Seagate Technology Holdings plc (NASDAQ:STX) has gained the spotlight due to its Heat Assisted Magnetic Recording (HAMR) drive, which is a nearline storage drive that increases the amount of data that can be stored on the drive by temporarily heating it. Management has shifted gears to increase production and sales of HAMR. It has already landed a major cloud customer for its new technology and plans to add more cloud clients during the current year.

As per a report published by Goldman Sachs cloud computing sales are anticipated to exceed $2 trillion by 2030. Considering the robust portfolio of Seagate Technology Holdings plc (NASDAQ:STX), demand for its storage drives is expected to grow substantially during this time. During the first quarter of fiscal 2025, the company highlighted robust demand for its nearline cloud drives which led its total revenue to grow 49% year-over-year.

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