The technology industry is flourishing, fueled by digital transformation and the increasing adoption of cloud-based IT services. Thus, investors could consider adding fundamentally sound tech stocks, Knowles Corporation (KN), TaskUs, Inc. (TASK), and CSP Inc. (CSPI), to the portfolio, which are currently trading under $20.
The demand for IT services is steadily increasing worldwide, driven by the growing popularity of cloud-based software and the rising concern to automate business processes. Since 2022, small and medium-sized enterprises (SMEs) have rapidly adopted cloud-based IT services, which are projected to capture over 80% of the market share by 2025.
