10 Best Cheap Technology Stocks to Invest In

In this article, we will be taking a look at the 10 Best Cheap Technology Stocks to Invest In. To skip our analysis of the recent technology trends, and market activity, you can go directly to see the 5 Best Cheap Technology Stocks to Invest In.

Technology has been at the forefront of advancement and innovation in the recent past and is expected to be the primary catalyst in the future as well. The advancements in technology have not only improved the quality of life for individuals but have also resulted in improved productivity and efficiency across almost all aspects of life.

According to McKinsey & Company, the latest trends in the technology revolve around 14 major technologies, with clean energy, mobility, and connectivity leading the trends in terms of the investments made during 2021. Clean energy technologies focused on the whole energy value chain, from power generation to storage and distribution, were at the forefront with $257 billion investment last year. Other major trends include applied AI, Cloud, and edge computing, Web3, and immersive reality technologies, among others.

Despite the growing investments and the increasing importance of technology in our lives, the technology sector and the stocks of the companies that are part of this sector have not fared well in the recent past. The Nasdaq-100 index, heavily weighted with technology stocks, was down year-to-date by nearly 31%, as of September 26, 2022.

Global markets have been going through a rough patch with fears of an economic slowdown due to inflation and aggressive monetary policies implemented by central banks. On September 21, the US central bank raised interest rates by three-quarters of a percentage point for the third consecutive time and signaled further increases in the future.

The increase in interest rates has led to a significant drop in share prices across the US market. If economic data fails to meet expectations, there’s potential for further declines in stocks. Given the uncertainty, diversification across different companies and sectors can be a good idea. Given the lower valuations, there could be an opportunity for long term investors to buy quality blue chip stocks.

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Methodology

For the list of 10 Best Cheap Technology Stocks to Invest In, we found cheap stocks by finding stocks that were trading significantly below the average analyst price target.

We then filtered those stocks by only including tech companies and using the collective wisdom of hedge funds, we ranked them by the number of hedge fund holders in our database who held shares in the same stock at the end of Q2 2022.

10 Best Cheap Technology Stocks to Invest In

10. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 40

International Business Machines Corporation (NYSE:IBM), based in Armonk, New York, is a technology company engaged in providing hybrid cloud and artificial intelligence (AI) solutions. It

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Google Stadia cloud gaming closes

In excess of the previous 12 months it has been on the lookout rather bleak for Google’s Stadia cloud gaming service, which has been struggling to get the hearts of avid gamers quite considerably given that it introduced back again in 2019. Currently Google has place the closing nail in its coffin and announced the closure of its Stadia cloud gaming assistance and will be issuing refunds to individuals avid gamers who have procured hardware and games on the services.

Refunds

Google will officially near Stadia early upcoming calendar year on January 18th 2023 and has promised refunds to players who ordered controllers and games as nicely as expansions, DLC and include-on material. So if you have ordered something to do with Stadia it is absolutely truly worth achieving out to Google to seize your refunds which should be completed by mid January claims the press release. For additional info on how to request a refund leap over to the formal Enable Centre.

Google Stadia closes

“A few years in the past, we also launched a customer gaming assistance, Stadia. And while Stadia’s tactic to streaming game titles for buyers was created on a strong know-how foundation, it has not acquired the traction with end users that we expected so we’ve produced the difficult selection to start off winding down our Stadia streaming assistance.”

“We’re grateful to the devoted Stadia players that have been with us from the start. We will be refunding all Stadia components buys created by means of the Google Retailer, and all recreation and incorporate-on information buys manufactured as a result of the Stadia retailer. Gamers will proceed to have obtain to their games library and perform as a result of January 18, 2023 so they can comprehensive closing participate in periods. We count on to have the greater part of refunds concluded by mid-January, 2023.”

“The underlying technology platform that powers Stadia has been established at scale and transcends gaming. We see crystal clear possibilities to utilize this technological innovation throughout other parts of Google like YouTube, Google Perform, and our Augmented Fact (AR) endeavours — as very well as make it readily available to our industry associates, which aligns with exactly where we see the potential of gaming headed. We continue being deeply fully commited to gaming, and we will continue on to devote in new resources, systems and platforms that electricity the success of developers, marketplace partners, cloud customers and creators.”

Supply : Google

Filed Beneath: Gaming Information, Best Information

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