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3 Tech Stocks Under $10 Wall Street Predicts Will Rally by 40% or More

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Even though investors have of late rotated away from expensive tech stocks on concerns over the potential tightening of monetary policy and rising Treasury yields, we believe low-priced tech stocks NeoPhotonics (NPTN), Zix (ZIXI), and Pixelworks (PXLW) could be good additions to one’s watchlist now given the tech industry’s solid growth prospects amid fast-paced, global digitization. Indeed, Wall Street analysts expect these stocks to rally by more than 40% in price in the near term. So, let’s take a closer look at these names.

Last week, the tech-heavy Nasdaq plunged, led by a decline in large tech stocks, including Facebook, Inc. (FB) and Apple Inc. (AAPL). However, according to a CNBC report, "tech weakness is a major buying opportunity for investors." Moreover, Invesco’s Kristina Hooper said, “Technology over the longer term is going to benefit from increased corporate spending.”

According to a Forrester report, U.S. tech spending is expected to grow by 6% this year and 6.8% next year, which should help the tech industry grow further. The industry is also expected to grow due to consistent innovations in advanced technologies that are applicable across several industries.

Wall Street analysts expect tech stocks NeoPhotonics Corporation (NPTN), Zix Corporation (ZIXI), and Pixelworks, Inc. (PXLW)—which are priced below $10 per share—to rally by more than 40% in the coming months. So, we think it could be wise to add these stocks to one’s watchlist.

NeoPhotonics Corporation (NPTN)

NPTN manufactures and sells........

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