10 Best Large Cap Penny Stocks to Buy Under $10

8. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Market Capitalization as of August 5: $22.67 billion

Share Price as of August 5: $7.38

Number of Hedge Fund Holders: 15

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is one of the best large cap penny stocks to buy under $10. On July 31, Ericsson announced a new commercial agreement with SoftBank Corp. of Japan, strengthening their existing partnership. Ericsson has been selected as a radio equipment vendor to enhance SoftBank’s 4G and 5G networks and expand its 5G Standalone coverage.

The agreement covers network enhancements in the Hokkaido, Tohoku, Kanto, Hokuriku, Tokai, and parts of the Kansai regions of Japan. Ericsson will now supply products and solutions from its Ericsson Radio System, covering low, mid, and high-band frequencies. The new equipment includes the lightweight Massive MIMO AIR 3255, which reduces energy consumption by up to 35% compared to previous models, and the energy-efficient, high-capacity, ultra-wideband AIR 6476.

Ericsson will also provide its latest generation RAN Compute (basebands) optimized for real-time AI execution, which is powered by Ericsson Silicon and the Many-Core Architecture/EMCA. This technology will enable SoftBank to improve network quality and operational efficiency with AI, enhance user experience, and reduce energy consumption.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) provides mobile connectivity solutions to communications service providers, enterprises, and the public sector.