The technology sector is one of the few areas of the industry where big and small players compete for relevance on a regular basis. Some analysts have described the increased interest in tech stocks as a bubble that is going to burst and bring the whole market down as technology firms now make up more than 20% of the S&P 500. Shares of cloud service providers like Five9, Inc. have surged on the back of increased work from home demand, and this has led to an increase in the demand for computer chips to maintain cloud data centers, driving the increase in share prices of semiconductor manufacturing companies like NVIDIA Corporation, and causing a shortage of chips that has increased the demand for raw material needed to make them, sending mining companies into overdrive.
Here are Insider Monkey’s Top 10 undervalued tech stocks. Methode Electronics, Inc. markets electronic devices, power assemblies, interface solutions, and surface support technologies. Synnex Corporation provides cloud and financing services for different firms. On April 19, the firm announced that it had entered into an agreement with Florida-based software firm Citrix Systems, Inc. Ebix, Inc. is a Georgia-based company that provides software and e-commerce services to several industries. The e-commerce services include travel exchanges and money transfer services, as well as foreign exchange and outward remittance services. On March 26, investment firm Evercore maintained an Outperform rating on HP stock with a price target of $33. Intel is famous for designing and manufacturing semiconductor chips that are used in electronics all over the world. In March, Intel revealed plans to build a semiconductor fabrication plant in Europe. Read more in the article Top 10 Undervalued Tech Stocks.
