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4 Tech Stocks Under $15 to Buy Right Now

Stock Markets Apr 28, 2021 02:30PM ET
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© Reuters. 4 Tech Stocks Under $15 to Buy Right Now

Investors rotated away from expensive technology stocks earlier this year, motivated by attractive entry opportunities in cyclical stocks. But several tech stocks are soaring again as the demand for advanced technologies grows. Given this backdrop, we think it wise to bet on quality tech stocks United Microelectronics (UMC), LG Display (NYSE:LPL), Daktronics (DAKT), and Computer Task Group (NASDAQ:CTG). These names are currently trading at affordable prices, so let’s take a closer look at them. Read on.Most tech stocks soared last year as the effects of the COVID-19 pandemic increased the world's dependence on technology products and services. However, as the economy began recovering this year with fiscal and monetary policy support and a fast-paced mass vaccination program, investors rotated away from expensive tech stocks to quality cyclical stocks, driving a tech sell-off earlier this year. However, because recent corporate earnings have so far indicated solid performance by tech companies, and the demand for advanced technology is expected to continue increasing, investors are again focusing on quality tech stocks. This is evidenced by the tech-heavy Nasdaq Composite’s solid performance over the past month.

Investors’ renewed interest in tech stocks is also evident in the Technology Select Sector SPDR Fund’s (XLK) 7.9% returns over the past month versus the SPDR S&P 500 ETF Trust’s (SPY) 5.4% gains. And because the remote working and shopping trend is likely here to stay even after the pandemic subsides, several tech stocks that provide related software and technologies are expected to generate steady returns in the coming months.

As a result, we think it wise to bet on United Microelectronics Corporation (UMC), LG Display Co ., Ltd. (LPL), Daktronics, Inc. (DAKT), and Computer Task Group, Incorporated (CTG). They are currently trading below $15 but hold immense upside potential based on the expected growth in their financials.

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4 Tech Stocks Under $15 to Buy Right Now
 

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