3 Cheap Tech Stocks to Buy Right Now
It might seem tough to find cheap tech stocks as the Nasdaq hovers near all-time highs. But if you take a closer look, you'll notice that plenty of promising tech stocks are still trading at surprisingly low valuations in this frothy market. Let's take a closer look at three of those undervalued tech stocks: Cisco (NASDAQ: CSCO), Ericsson (NASDAQ: ERIC), and Skyworks Solutions (NASDAQ: SWKS).
Cisco is often considered a slow-growth tech stock, since it generates most of its revenue from networking switches and routers. Both markets are heavily commoditized, and Cisco's revenue grew at an anemic CAGR of 1.5% between fiscal 2017 and 2021.
Cisco experienced a slowdown during the pandemic as its enterprise and data center customers postponed their network upgrades. Its sales in China also declined sharply amid escalating trade tensions.
Source Fool.com
