The demand for advanced technology solutions is expected to rise with the continuing digital transformation in almost every industry. Thus, we think it may be wise to now add low-priced tech stocks Summit Wireless (WISA), Safe-T Group (SFET), and Auddia (AUUD) to one’s watch list. Also, Wall Street analysts expect these names to deliver exceptional returns in the near term. Let’s discuss.Though investors rotated away from expensive technology stocks earlier this month, according to Kyle Rodda, a market analyst at IG Australia, “The narrative over the last couple of days has been earnings focused and tech stocks have led the charge. There's momentum there, simple as that.”
Furthermore, the Nasdaq Composite has jumped to 15,021.81 recently. Investors’ interest in the tech stocks is evidenced by the Technology Select Sector SPDR Fund’s (XLK) 4.7% returns over the past three months. Consistent innovations in artificial intelligence (AI) and the internet of things (IoT), among others, are expected to drive the technology sector’s growth.
So, we think it could be wise to add tech stocks Summit Wireless Technologies, Inc. (WISA), Safe-T Group Ltd (SFET), and Auddia Inc. (AUUD) to one’s watch list now. These stocks are trading below $5, and Wall Street analysts expect them to deliver significant returns in the near term.