2 Top Tech Stocks Under $10 to Buy in June

NYSE: NOK | Nokia Corp. ADR News, Ratings, and Charts

NOK – Even though investors earlier this year rotated away from tech stocks to cyclical stocks to capitalize on the recovering economy, the tech industry is gradually resuming its rally due to the increasing adoption of cloud computing, 5G-enabled products and other advanced technologies. So, based on that, we think it could be wise to invest now in low-priced tech names Nokia (NOK) and Sharp (SHCAY), which possess strong financials.

The ongoing economic recovery and fears over rising inflation caused investors to rotate away from expensive tech stocks to quality cyclical stocks earlier this year. However, the sector is well positioned for solid growth because businesses are increasingly adopting advanced technologies to stay competitive in the digital era. Furthermore, because hybrid working arrangements are expected to persist for the foreseeable future, demand for cloud computing, 5G, and other advanced technologies should continue increasing. Indeed, the industry is expected to hit a $5 trillion market value  by year’s end.

Given the industry’s solid growth prospects, investors are gradually returning to tech stocks. This is evident in the Technology Select Sector SPDR Fund’s (XLK) 6.3% returns over the past month versus the SPDR S&P 500 Trust ETF’s (SPY) 2.3% gains.

Given this backdrop, we think it wise to bet on Nokia Corporation (NOK - Get Rating) and Sharp Corporation (SHCAY - Get Rating). They are currently trading at less than $10 but hold immense upside potential.

Nokia Corporation (NOK - Get Rating)

Headquartered in Espoo, Finland, NOK provides mobile and fixed network solutions worldwide. It operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. The company focuses on mobile radio, including macro radio, small cells, and cloud native radio solutions for communications service providers and enterprises.

NOK opened its first Open RAN (O-RAN) Collaboration and Testing Center at its offices in Dallas, Texas on June 16, 2021. Pasi Toivanen, Head of Edge Cloud at Nokia, said “Our new O-RAN Collaboration and Testing Center highlights our continued commitment towards O-RAN and the development of new solutions.”

NOK’s comparable net sales increased 3% year-over-year to €5.08 billion ($6.15 billion) for the first quarter ended March 31, 2021. Its comparable operating profit grew 375% year-over-year to €551 million ($668.01 million), while its comparable profit for the period increased 1,036% year-over-year to €375 million ($454.64 million). Also, its comparable EPS came in at €0.07 ($0.08), up 600% year-over-year.

The company’s EPS is expected to come in at $0.30 in its  fiscal year 2022, which represents a 3.4% year-over-year rise. It surpassed the Street’s EPS estimates in three of the trailing four quarters. NOK’s revenue is expected to increase 4.3% year-over-year to $26 billion in  2021. The stock’s price  has surged 35.3% year-to-date to close yesterday’s trading session at $5.29.

NOK’s POWR Ratings reflects this promising outlook. The company has an overall B rating, which translates to Buy in our proprietary ratings system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.

The stock has an A grade for Growth and Sentiment, and a B grade for Value. Within the B-rated Technology – Communication/Networking industry, NOK is ranked #11 of 56 stocks.

To see the additional POWR Ratings for NOK (Quality, Momentum and Stability), click here.

Click here to check out our Cloud Computing Industry Report for 2021

Sharp Corporation (SHCAY - Get Rating)

Headquartered in Sakai, Japan, SHCAY manufactures and sells telecommunication equipment, electric and electronic application equipment, and electronic components internationally. The company operates through three segments: Smart Life, 8K Ecosystem, and ICT. In addition,  it offers refrigerators, LCD TVs and mobile phones.

On May 31, 2021, SHCAY announced that it would be  installing a roof-mounted solar power system at a plant belonging to one of Thailand’s major tire manufacturers, the Deestone Group*2. SHCAY  remains committed to promoting  the use of renewable energy worldwide,  and the Deestone Group*2 contract should  help increase its sales considerably in the near term.

SHCAY’s net sales increased 7.2% year-over-year to ¥2,425.91 billion ($22.03 billion) for its  fiscal year ended March 31, 2021. Its operating profit grew 61.5% year-over-year to ¥83.11 billion ($754.92 million), while its ordinary profit increased 25.9% year-over-year to ¥63.17 billion ($573.83 million). Also, its EPS came in at ¥87.2 ($0.79), up 288.1% year-over-year.

Analysts expect SHCAY’s revenue to increase 108.9% year-over-year to $22.67 billion in its fiscal year 2022. The stock gained 60.5% over the past year to close yesterday’s trading session at $4.27.

SHCAY’s POWR Ratings reflect solid prospects. The company has an overall rating of B, which translates to Buy in our proprietary ratings system. It has an A grade for Value, and a B grade for Stability and Momentum.

Click here to see the additional POWR Ratings for SHCAY (Growth, Sentiment and Quality).

SHCAY is ranked #9 of 46 stocks in the B-rated Technology – Hardware industry.

Want More Great Investing Ideas?

3 Stocks to DOUBLE This Year


NOK shares were trading at $5.22 per share on Wednesday afternoon, down $0.07 (-1.32%). Year-to-date, NOK has gained 33.50%, versus a 13.62% rise in the benchmark S&P 500 index during the same period.


About the Author: Nimesh Jaiswal


Nimesh Jaiswal's fervent interest in analyzing and interpreting financial data led him to a career as a financial analyst and journalist. The importance of financial statements in driving a stock’s price is the key approach that he follows while advising investors in his articles. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
NOKGet RatingGet RatingGet Rating
SHCAYGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


How is the Stock Market Like a Helium Balloon?

Stocks have finally broke above 6,000 for the S&P 500 (SPY). The more important question is what comes next? Steve Reitmeister provides his answer in his latest market commentary.

Has the Bull Market Run Out of Steam?

It seems the S&P 500 (SPY) advance has stalled and cant crack above strong resistance at 6,000. Why is that happening? And what happens next? Read on for the answers...

Investors Remain “Cautiously Optimistic”

The S&P 500 (SPY) has made great advances since the lows of early April. Yet seem to be stuck under resistance at 6,000. What happens next depends on tariff talks. So let’s talk about the latest news on that front.

Bull Market Til Proven Otherwise

The phrase that paid for investors in 2025 was “Bull market til proven otherwise” Steve Reitmeister explains why in his latest market update and preview of top stock picks.

Investor Alert: Mission Accomplished?

The S&P 500 (SPY) has broken out above the 200 day moving average. Does that mean that bear market fears are now over? And should investors be riding the bull to new heights? Read on for Steve Reitmeister’s answer...

Read More Stories

More Nokia Corp. ADR (NOK) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All NOK News