In this article we discuss the 5 best affordable tech stocks to invest in now. If you want to read our detailed analysis about the tech industry, go directly to the 10 Best Affordable Tech Stocks to Invest In Now.
5. OneConnect Financial Technology Co., Ltd. (NYSE: OCFT)
Price as of May 12, 2021: $14.09 per share
Number of Hedge Fund Holders: 5
OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) is a technology company specializing in the supply of online information and operating support services and cloud-platform-based Fintech solutions for financial institutions.
The company announced an agreement with China Insurance Asset Registration and Transaction System Co to integrate its platform advantages in financial infrastructure. OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) has also struck another deal with the Bank of Beijing Jinan Branch in Jinan to undertake its digital transformation project.
In Q4 2020, the company reported an increase in revenue by 39.2% to RMB1.08 billion from RMB773 million in Q4 2019.
4. United Microelectronics Corporation (NYSE: UMC)
Price as of May 12, 2021: $8.30 per share
Number of Hedge Fund Holders: 12
United Microelectronics Corporation (NYSE: UMC) is a technology company that runs a semiconductor wafer foundry through its Wafer Fabrication and New Business segments.
The company has unveiled plans to expand 300mm Fab 12A Phase 6 (P6) production capacity, located in Taiwan’s Tainan Science Park. The company plans to undertake the project through a partnership that will bring together several of its customers worldwide. Under the agreement, the customers will make a deposit that guarantees their supply of chips, in the long run, using a pre-determined pricing model. In return, UMC will get the required funding to grow organically achieve its long-term objectives.
The expanded plant is expected to start production in Q2 2023, and the company expects to invest a total of NT$100 billion.
United Microelectronics Corporation (NYSE: UMC) has also partnered with Sensirion, a leading microsensor manufacturer, to produce medical-related ICs to be used in the fight against the COVID-19 pandemic. Under this arrangement, UMC will be granted exclusive rights to produce Sensirion’s flow-sensors for medical ventilators and temperature sensor ICs for Covid-19 vaccine transport.
3. Wipro Limited (NYSE: WIT)
Price as of May 12, 2021: $7.29 per share
Number of Hedge Fund Holders: 11
Wipro Limited (NYSE: WIT) is a global information technology (IT) that offers consulting and business process services to companies worldwide.
The technology company has announced that it is setting up an Innovation Centre in Holborn, London. The new 20,000 sq. ft. Innovation Centre is expected to cost £16 million, and its construction is expected to take four years. The center is expected to offer technology expertise to companies in the U.K and worldwide and will be pivotal in offering advanced cybersecurity, digital, and cloud expertise to both start-ups and large established multinational companies.
Wipro Limited (NYSE: WIT) also announced that it has achieved the Google Cloud Partner Specialization in application development. This is the company’s fourth Partner Specialization badge from Google Cloud after the company was recognized for outstanding migration, cloud security, and digital work transformation.
The company recently announced results for Q1 2021, with gross revenues increasing 3.4% to $2.2 billion and net income increasing 27.8% to $406.4 million compared to Q1 2020. In the FY 2021, the company projects revenue from its IT Services business to amount to between $2.20 billion and $2.24 billion.
2. Infosys Limited (NYSE: INFY)
Price as of May 12, 2021: $17.84 per share
Number of Hedge Fund Holders: 23
Infosys Limited (NYSE: INFY) is a technology company that offers technology, consulting, outsourcing, and next-generation digital services to companies worldwide. Infosys Limited (NYSE: INFY) has operations and subsidiaries in North America, Europe, India, and other countries worldwide. In the fourth quarter, Infosys (NYSE:INFY) posted an EPS of $0.16, in-line with the estimates. Revenue in the quarter jumped 13% on a year-over-year basis and beat the Street by $90 million.
Infosys has announced that it has been selected by ArcelorMittal, world-leading steel and mining company, to implement the company’s digital strategy and accelerate the digital transformation journey. Infosys will power ArcelorMittal’s next-generation application management and business process management (BPM) services in Europe through the partnership.
1. LG Display Co., Ltd. (NYSE: LPL)
Price as of May 12, 2021: $9.78 per share
Number of Hedge Fund Holders: 7
LG Display Co., Ltd. (NYSE: LPL) is a global technology company that specializes in the design, production, and sale of organic light-emitting diode (OLED) technology-based display panels and thin-film transistor liquid crystal display (TFT-LCD).
On April 28, 2021, the South Korean company announced unaudited financial results for Q1 2021 with a drop in revenue to KRW 6,883 billion from KRW 7,461 billion in Q4 2020. In Q1 2021, the company’s net income amounted to KRW 266 billion compared to a net income of KRW 621 billion in Q4 2020 and a net loss of KRW 199 billion in Q1 2020.
In another milestone, the world’s leading innovator of display technologies announced that it has been issued with the ‘Discomfort Glare Free’ marketing claim verification for its all OLED TV panels by UL, a global safety science company.
In January this year, LG showcased the world’s first 48-inch Bendable Cinematic Sound OLED (CSO) optimized for gaming. The display comes with a paper-thin screen that bends and unfolds with a 1,000R curvature radius.
Daiwa Securities upgraded the LG share from a ‘Hold’ to ‘Outperform.’
You can also take a peek at Top 10 Undervalued Tech Stocks and 10 Best Tech Stocks to Invest in For Long Term
