2 Tech Stocks Under $10 to Buy, 2 to Sell By StockNews
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:) and Nokia (NYSE:), currently trading under $10. But not all stocks that are low in price can 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. With the increasing number of COVID-19-related cases and many other industries undergoing digital transformations, it is likely that the tech industry will continue to grow in the future.
The tech-heavy Nasdaq lost 2.8% yesterday to 14,546.68, its worst day trading since March. This was due to rising Treasury yields and Washington lawmakers continuing their budget impasse. However, according to Gartner , Inc. (NYSE:) report, governments globally are expected to spend $557.3 billion in 2022 on information technology, representing a 6.5% year-over-year rise.
It might be a smart move to buy shares in fundamentally sound stocks such as Wipro Limited (WIT), and Nokia Corporation, (NOK), currently trading below $10. Low-priced stocks such as Katapult Holdings, Inc. and DiDi Global Inc. are better avoided due to their poor near-term prospects.
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