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While shoppers hunt for online bargains this Cyber Monday, investors are eyeing the tech sector for potential “deals” of their own.
In a market where the Nasdaq 100, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ), skyrocketed by over 45% year-to-date, unearthing undervalued tech stocks has become increasingly challenging, like finding a needle in a digital haystack.
The U.S. tech industry, bolstered by advancements in artificial intelligence (AI), has seen its outlook improve dramatically over the past few months.
Keenly observing this upward trajectory are analysts, who have set forward-looking, ambitious price targets.
While several of these targets are reflected in the current stock prices or even exceed them, some stocks seemingly slipped under the radar, with analysts predicting substantial price increases not yet recognized by investors.
The following list presents nine U.S. technology stocks, each with a market capitalization of more than $1 billion, currently trading at a discount exceeding 40% relative to the 1-year forward average price target set by analysts.
This significant discount suggests a potential upside of over 80%.
| # | Name | Last Price | 1-Year Price Target (Avg.) | Price discount vs. Avg. PT | Potential upside |
|---|---|---|---|---|---|
| 1 | AST SpaceMobile, Inc. (NASDAQ:ASTS) | $4.74 | $17.67 | 73.17% | 272.71% |
| 2 | Globalstar, Inc. (NYSE:GSAT) | $1.53 | $4.13 | 62.93% | 169.77% |
| 3 | DISH Network Corporation (NASDAQ:DISH) | $3.71 | $8.74 | 57.63% | 136.01% |
| 4 | Altice USA, Inc. (NYSE:ATUS) | $2.38 | $5.25 | 54.69% | 120.71% |
| 5 | Semtech Corporation (NASDAQ:SMTC) | $15.99 | $32.90 | 51.40% | 105.75% |
| 6 | Viasat, Inc. (NASDAQ:VSAT) | $20.03 | $37.14 | 46.07% | 85.44% |
| 7 | Aurora Innovation, Inc. (NASDAQ:AUR) | $2.15 | $3.97 | 46.02% | 85.24% |
| 8 | Angi Inc. (NASDAQ:ANGI) | $2.15 | $3.97 | 45.84% | 84.65% |
| 9 | indie Semiconductor, Inc. (NASDAQ:INDI) | $7.25 | $13.08 | 44.59% | 80.46% |
While these stocks appear to be undervalued according to analysts, investors should approach with caution.
The future performance of these stocks is influenced by various factors, some of which may be unexpected and not currently within analysts’ projections.
For investors, this list serves as a reminder of the importance of due diligence and maintaining a balanced portfolio, even in a market that shows strong growth.
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