The two tech stocks discussed below offer significant upside potential beyond the usual tech giants.
Both companies are poised to benefit from powerful industry tailwinds and strategic innovation.
InvestingPro’s AI models indicate double-digit growth potential, supported by strong financial health scores.
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Nvidia (NASDAQ: NASDAQ:) has rightfully garnered attention for its groundbreaking advancements in AI and semiconductor technology.
However, there are other tech stocks that are poised for significant growth but have yet to capture the same level of interest from the broader market.
ON Semiconductor (NASDAQ:) and Jabil Circuit (NYSE:) stand out as interesting opportunities for investors seeking substantial returns outside the mainstream tech giants.
Here’s why these two stocks are worth a closer look for those aiming to diversify their tech investments and uncover hidden potential.
1. ON Semiconductor
Current Price: $76.30
Fair Value Price Target: $87.19 (+14.3% Upside)
ON Semiconductor has emerged as a crucial player in the semiconductor industry, providing intelligent power and sensing solutions that are indispensable in high-growth sectors such as automotive, industrial automation, and communications.
The company’s products are increasingly critical as industries shift toward electric vehicles (EVs), advanced driver-assistance systems (ADAS), and renewable energy solutions.
As these industries expand, the demand for ON Semiconductor’s products is expected to soar, driving the company’s revenue and profitability higher.
ON’s strategic focus on innovation has allowed it to build a robust product portfolio tailored to the needs of the future.
The company’s investments in energy-efficient technologies and its ability to meet the stringent requirements of the automotive industry have set it apart from its competitors.
Furthermore, ON has effectively managed supply chain challenges, maintaining strong production capabilities even in a constrained environment.
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