Market Overview

Four Bargain-Priced Tech Names

Related GLW
Apple Set to Launch iPhone 6 Today: What More to Expect?
Pete Najarian Sees Unusual Options Activity In Corning Incorporated
Buyback Mania Inflates 2Q Earnings Growth (Fox Business)

With an average P/E of 22.7, investors know that in order to own a piece of the most talked-about sector on Wall Street, they’re going to have to pay up. However, not all tech stocks are premium-priced.

First, the ground rules. We looked at stocks that had a market cap of at least $300 million and traded over 400,000 shares daily with a P/E lower than 12. Don’t go out and buy a couple thousand shares but do add these names to your research list. Here we go!

Corning (NYSE: GLW)- Never thought of Corning as a technology stock? First, think Gorilla Glass. If you own an Apple (NASDAQ: AAPL) iPhone, you probably have your fingers on a Corning technology product every day. Second, overlay a chart of Corning and the Technology Select Sector SPDR (NYSE: XLK) and notice the similarities.

Corning trades at an 11.56 P/E but more compelling is the wedge pattern that has converged in the chart. This stock is sitting at its 50 day moving average and it’s ready to break out. That doesn’t mean it will break to the upside but the near-term bias has been up.

Intel (NASDAQ: INTC)- Traders can’t figure out if they like the company or not. Not long ago it was the poster child for how old tech can become new again but since its high of $25.72 at the beginning of June, it’s been nothing but downhill. With a P/E of 11.84 and sitting at its 200 day moving average, this stock could be a buy if it holds this level.

Yahoo (NASDAQ: YHOO)- You might think it odd for a company CEO to get all, “America’s Top Model” posing for Vogue, but Marissa Mayer is doing something right. The stock is up 37 percent in the past year (if you’ve followed Yahoo over the past five years, you know how impressive that is), yet still only has a P/E of 7.74. A number like that should make you take more of a second look than Mayer’s Vogue spotlight.

Related: SLIDESHOW: Five Companies That Could Buy BlackBerry

Xerox (NYSE: XRX)- Intel normally takes the crown for the old tech name that doesn’t get the love it deserves but at least people talk about it. When did you last hear a CNBC bulls vs. bears debate about Xerox? The stock is up 54 percent since November but still only trades at 11.08 and 8.74 times forward earnings and has a chart that looks poised to continue higher.

Disclosure: At the time of this writing, Tim Parker was long Apple but had no other position in the companies mentioned.

Posted-In: Apple corning Gorilla GlassSector ETFs Technicals Tech Trading Ideas ETFs Best of Benzinga

 

Related Articles (AAPL + GLW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters