(C) Reuters. 2 Tech Stocks Under $10 to Buy, 2 to Sell
With continued remote working trends and digital transformation, the technology sector is expected to grow significantly in the upcoming months. However, given the current market volatility, it could be wise to add quality tech stocks Wipro (NYSE:WIT) and Nokia (NYSE:NOK), currently trading under $10. However, not all low-priced stocks in this space are well-positioned to gain. DiDi Global (DIDI) and Katapult Holdings (KPLT) are best avoided because of their bleak near-term prospects.It’s no surprise that the demand for advanced technology-based products and services increased exponentially amid the COVID-19 pandemic. As the COVID-19 cases continue to rise and several industries are undergoing a digital transformation, the technology industry could keep growing in the foreseeable future.
Yesterday, the tech-heavy Nasdaq fell 2.8% to 14,546.68, marking its worst trading day since March as treasury yields continued to rise and lawmakers in Washington continued their budget stalemate. However, according to Gartner , Inc. (NYSE:IT) report, governments globally are expected to spend $557.3 billion in 2022 on information technology, representing a 6.5% year-over-year rise.
Given this backdrop, it could be wise to scoop up the shares of fundamentally sound tech stocks Wipro Limited (WIT) and Nokia Corporation (NOK), which are currently trading under $10. However, low-priced stocks in this space DiDi Global Inc. (DIDI) and Katapult Holdings, Inc. (KPLT), are best avoided because of their weak near-term prospects.
2 Tech Stocks Under $10 to Buy, 2 to Sell
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