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The Consumer Technology Association expects consumer spending on tech products and solutions during the 2021 holiday season to reach $142.5 billion. Furthermore, because companies across industries are investing significantly in tech upgrades to keep up with rapid digitalization, the tech sector should continue to thrive. Investors’ interest in the technology industry is evidenced by the iShares Global Tech ETF’s (IXN) 29.3% returns over the past year versus the SPDR S&P 500 ETF Trust’s (SPY) 22.8% gains.
Given this backdrop, we think it could be wise to bet on under-the-radar small-cap tech stocks Mitek Systems, Inc. (MITK), Benefitfocus, Inc. (BNFT), and Zedge, Inc. (ZDGE). They are currently trading below their 52-weeks highs and could witness significant upside in the coming months.
