5 Best Affordable Tech Stocks to Invest In Now

1. Corning Incorporated (NYSE:GLW)

Number of Hedge Fund Holders: 63

Share Price as of August 12, 2022: $37.14

Corning Incorporated (NYSE:GLW) is an American company that provides products for a wide variety of technology industries. These include displays for smartphones, glass cables for fiber optic networks, and substrates for the semiconductor industry. The firm is headquartered in Corning, New York.

Corning Incorporated (NYSE:GLW) is poised to massively benefit from the rollout of fifth generation (5G) communications industry and the fiber optic industry. The latter market is slated to grow at a 10% CAGR beyond 2030, providing the company with a steady stream of revenue. Prices per fiber kilometer are at a record high, and the company is the world’s largest provider of fiber optic cables with a 16% market share.

Northland raised Corning Incorporated (NYSE:GLW)’s share price target to $55 from $50 in July 2022, sharing that the fact that communications is decoupling from technology is a positive development for the company. 63 out of the 912 hedge funds polled by Insider Monkey during Q1 2022 had held a stake in the company.

Corning Incorporated (NYSE:GLW)’s largest investor is Jim Simons’s Renaissance Technologies which owns 2.4 million shares that are worth $90 million.

Disclosure: None. You can also take a look at 10 Dividend Stocks to Buy According to John Allison’s Unio Capital and 10 Best Data Center Stocks To Invest In.

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