In this article we will take a look at the 5 best tech stocks to buy right now under $10. For a detailed analysis of the technology sector, go directly to the 10 Best Tech Stocks to Buy Right Now Under $10.
5. BlackBerry Limited (NYSE: BB)
Number of Hedge Fund Holders: 31
Price as of May 6, 2021: $8.15 per share
BlackBerry Limited (NYSE: BB) is a Canada-based technology company that markets software services and IoT products. It was founded in 1984 and is placed fifth on our list of 10 best tech stocks to buy right now under $10. Blackberry stock has returned more than 74% to investors over the past year. Although the firm is famous for Blackberry phones of the past, it has rebranded itself in recent years around artificial intelligence and machine learning to offer internet security solutions to business owners and governments around the world.
On March 31, investment advisory Canaccord Genuity upgraded BlackBerry Limited (NYSE: BB) stock to Hold from Sell with a price target of $9, down from $10 previously.
Out of the hedge funds being tracked by Insider Monkey, Canada-based investment firm Fairfax Financial Holdings is a leading shareholder in the firm with 46.7 million shares worth more than $309 million.
4. Nokia Corporation (NYSE: NOK)
Number of Hedge Fund Holders: 19
Price as of May 6, 2021: $4.87 per share
Nokia Corporation (NYSE: NOK) is a Finland-based technology company that has stakes in the telecommunications, information technology, and consumer electronics businesses. It was founded in 1865 and is placed fourth on our list of 10 best tech stocks to buy right now under $10. Nokia stock has returned more than 36% to investors over the past year. The company has shifted focus in recent years away from mobile phone manufacturing to the fast-growing 5G technology infrastructure and equipment.
On April 29, Nokia Corporation (NYSE: NOK) stock soared more than 17% as the firm reported earnings for the first quarter of 2021. The company reported that sales for the network infrastructure section of Nokia were up 28% year-on-year to $1.7 billion.
At the end of the fourth quarter of 2020, 19 hedge funds in the database of Insider Monkey held stakes worth $186 million in the firm, down from 21 in the preceding quarter worth $173 million.
3. Wipro Limited (NYSE: WIT)
Number of Hedge Fund Holders: 11
Price as of May 6, 2021: $7.52 per share
Wipro Limited (NYSE: WIT) is an India-based technology company that focuses on offering business processing services. It was founded in 1945 and is placed third on our list of 10 best tech stocks to buy right now under $10. The company has research and collaboration agreements with universities in the United States, Israel, Australia, and a strategic partnership with Amazon Web Services. It has a market cap of more than $36 billion and posted more than $8.46 billion in annual revenue for the last fiscal year.
Wipro Limited (NYSE: WIT) announced on April 22 that it would achieve net zero greenhouse gas emissions by 2040. The company has in recent years developed green IT solutions for sectors like energy and manufacturing to help reduce their carbon footprint.
Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in the firm with 12.8 million shares worth more than $72 million.
2. ASE Technology Holding Co., Ltd. (NYSE: ASX)
Number of Hedge Fund Holders: 9
Price as of May 6, 2021: $7.83 per share
ASE Technology Holding Co., Ltd. (NYSE: ASX) is a China-based semiconductor manufacturing firm. It was founded in 1984 and is placed second on our list of 10 best tech stocks to buy right now under $10. The company has operations in Asia, North America, and Europe. ASE stock has returned more than 75% to investors over the past year. In addition to the technology sector, the firm also has stakes in the real estate, information software, investment advisory, and warehouse management businesses.
ASE Technology Holding Co., Ltd. (NYSE: ASX) reported quarterly earnings for the first three months of 2021 on April 28, posting a revenue of $4.2 billion, up 22% compared to the same period last year. The firm also reported $0.14 in earnings per share, beating estimates by $0.02.
At the end of the fourth quarter of 2020, 9 hedge funds in the database of Insider Monkey held stakes worth $183 million in the firm, down from 11 in the preceding quarter worth $131 million.
1. United Microelectronics Corporation (NYSE: UMC)
Number of Hedge Fund Holders: 12
Price as of May 6, 2021: $9.32 per share
United Microelectronics Corporation (NYSE: UMC) is a China-based semiconductor manufacturing firm founded in 1980. It is placed first on our list of 10 best tech stocks to buy right now under $10. It has a market cap of more than $22 billion and posted close to $6.3 billion in annual revenue in 2020. United Microelectronics stock has returned more than 265% to investors over the past twelve months. The firm offers circuit design, mask tooling, wafer fabrication, and assembly and testing services.
United Microelectronics Corporation (NYSE: UMC) posted quarterly results for the first three months of 2021 on April 28, reporting a revenue of $1.6 billion and earnings per share of $0.15. A global chips shortage, that will likely continue throughout the year, has benefited the firm.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in the firm with 18.1 million shares worth more than $153 million.
You can also take a peek at 10 Best Travel Stocks to Buy Right Now, and 10 Best Automotive Stocks to Invest in Now.
