On June 7, Torsten Slok, Apollo Global Management, joined ‘Closing Bell Overtime’ on CNBC to discuss the US jobs report and the broader economic landscape. He reaffirmed his previous stance that while soft economic data was concerning, it didn’t signal an imminent recession, and a divergence between soft and hard data that would eventually converge. As the better-than-expected jobs report also came out, he acknowledged that even though the numbers show some softening in the labor market, they still indicate a relatively decent situation. He also noted the market’s current worry about rising wage inflation.
Slok explained that the market has been attempting to gauge the magnitude of the trade war’s impact. Unlike events such as COVID-19 or the Lehman Brothers crisis, he stated the trade war’s shock has so far been mild, not yet affecting hard data as much. However, he warned that over the next several months, as companies adapt to high tariff levels, earnings will increasingly be negatively impacted. Slok concludes that the combination of the trade war’s ongoing impact on earnings for several months and quarters ahead, alongside the continued rise in interest rates, presents plenty of things to worry about regarding economic headwinds.
Slok underscored that slowing the economy takes time, and companies are currently trying to respond to the existing tariff levels. If tariffs remain at current levels, companies, particularly those vulnerable to trade, will continue to adjust. This adjustment remains a headwind for S&P earnings and GDP. Slok cited the Yale Budget Lab’s prediction of a minus 0.7 drag on GDP growth due to the trade war. He clarified that this drag, while not severe enough to cause a recession, is sufficient to put upward pressure on the unemployment rate for the next several months.
That being said, we’re here with a list of the 9 best inexpensive stocks to buy right now.
A portfolio manager studying various stocks and other securities on a tablet.
Our Methodology
We used the Finviz stock screener to compile a list of the top stocks with a forward P/E ratio of 20 or less, as of June 10. We then selected the 9 best inexpensive stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
8 Best Inexpensive Stocks to Buy Right Now
8. Seagate Technology Holdings (NASDAQ:STX)
Forward P/E Ratio as of June 10: 14.03
Number of Hedge Fund Holders: 55
Seagate Technology Holdings (NASDAQ:STX) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Seagate to $145 from $135, while maintaining a Buy rating on the stock. This optimism follows the 2025 BofA Global Technology Conference, where the analyst gained a more bullish outlook on the Hard Disk Drive/HDD industry.
BofA anticipates that rising hyperscaler demand will outpace Exabyte production growth in the upcoming quarters, which suggests a favorable environment for Seagate and the broader HDD sector. In FQ3 2025, the company reported revenue of $2.16 billion for the quarter, which was a 31% year-on-year increase. Hard Drive Revenue alone was $2 billion.
The company achieved its eighth consecutive quarter of gross margin expansion in FQ3 and recorded its third-highest operating margin in history. Seagate’s advanced HAMR-based Mozaic drives, which are the industry’s only 3 terabyte per disk products, are now ramping up volume to qualified customers. The company has strong demand visibility extending into H1 2026, with new build-to-order agreements currently under negotiation.
Seagate Technology Holdings (NASDAQ:STX) provides data storage technology and infrastructure solutions internationally. It sells its products primarily to OEMs, distributors, and retailers.
7. AstraZeneca (NASDAQ:AZN)
Forward P/E Ratio as of June 10: 16.21
Number of Hedge Fund Holders: 56
AstraZeneca (NASDAQ:AZN) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, the first patient was dosed by AstraZeneca in the DESTINY-Endometrial01 phase 3 trial. AstraZeneca is jointly developing and commercializing ENHERTU, which is the drug being evaluated in the DESTINY-Endometrial01 phase 3 trial, with Daiichi Sankyo under a global collaboration.
The study is evaluating ENHERTU (trastuzumab deruxtecan) as a first-line therapy for patients with HER2-expressing (IHC 3+/2+), mismatch repair proficient (pMMR) primary advanced (stage III/IV) or first recurrent endometrial cancer of any histologic subtype except sarcoma. The trial will assess ENHERTU (at a dose of 5.4 mg/kg) in combination with either rilvegostomig or pembrolizumab, compared to the current standard of care, platinum-based chemotherapy (carboplatin and paclitaxel) in combination with pembrolizumab.
Endometrial cancer is the second most common gynecologic cancer and the sixth most common cancer among women globally. In 2022, ~420,000 cases were diagnosed, which led to ~97,000 deaths worldwide. Incidence and mortality rates are projected to increase by ~61% and 87%, respectively, by 2050. The new phase 3 trial aims to further understand ENHERTU’s role in combination with immunotherapy as a potential first-line treatment strategy.
AstraZeneca (NASDAQ:AZN) is a biopharmaceutical company that discovers, develops, manufactures, and commercializes prescription medicines. It serves primary and specialty care physicians through distributors and local representative offices in the UK, the US, Europe, and Asia.
6. Tenet Healthcare Corporation (NYSE:THC)
Forward P/E Ratio as of June 10: 13.99
Number of Hedge Fund Holders: 62
Tenet Healthcare Corporation (NYSE:THC) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Morgan Stanley raised its price target on Tenet Healthcare to $210 from $175, while maintaining an Overweight rating on the shares. Analyst Craig Hettenbach highlighted Tenet Healthcare as Morgan Stanley’s preferred stock within the hospital sector.
Tenet Healthcare’s net operating revenues in Q1 2o25 were $5.2 billion. The company’s consolidated Adjusted EBITDA increased by 14% over Q1 2024 to $1.163 billion, with an Adjusted EBITDA Margin of 22.3%, which shows a 3.2% improvement over the prior year. USPI/United Surgical Partners International Adjusted EBITDA alone grew 16% year-over-year in Q1 to $456 million, while the same-facility revenues increased by 6.8%.
Tenet Healthcare plans to deploy $250 million annually for USPI acquisitions, with a focus on diversifying service lines like orthopedics. Despite the strong performance, Tenet Healthcare is not updating its full-year 2025 guidance due to the early stage of the year and potential uncertainties.
Tenet Healthcare Corporation (NYSE:THC) is a diversified healthcare services company in the US. The company operates through 2 segments: Hospital Operations & Services, and Ambulatory Care.
5. Centene Corporation (NYSE:CNC)
Forward P/E Ratio as of June 10: 7.67
Number of Hedge Fund Holders: 64
Centene Corporation (NYSE:CNC) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Morgan Stanley initiated coverage on Centene with an Overweight rating and a price target of $70. Analyst Ricky Goldwasser noted that while varying permutations of policy headwinds are looming across Medicaid, this potential negative impact is disproportionately reflected in Centene’s current valuations.
Morgan Stanley expressed optimism regarding Centene’s strengthening Medicaid footprint and its potential for dual-eligible integration. The firm contended that policy risk, although a key variable, might prove more manageable than generally feared. In Q1 2025, the company’s revenue for the quarter was $46.62 billion, which marked a 15.4% year-on-year increase and an 8.3% beat against analyst estimates of $43.03 billion.
While the number of customers decreased to 27.94 million in Q1 from 28.6 million in the previous quarter, CEO Sarah London attributed the overall performance of Centene to improvements in Medicaid rates and recent contract wins in Illinois and Nevada. She also acknowledged that a more severe flu season increased costs in Medicaid, but these were largely offset by underlying margin improvements.
Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides programs and services to under-insured and uninsured families, and commercial organizations in the US. The company operates through 4 segments: Medicaid, Medicare, Commercial, and Other.
4. HCA Healthcare Inc. (NYSE:HCA)
Forward P/E Ratio as of June 10: 14.86
Number of Hedge Fund Holders: 74
HCA Healthcare Inc. (NYSE:HCA) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Morgan Stanley analyst Craig Hettenbach increased the price target for HCA Healthcare to $410 from $355, while maintaining an Equal Weight rating on the shares. Hettenbach attributes HCA’s consistently strong margins to its scale and effective operating initiatives.
In Q1 2025, HCA Healthcare experienced broad-based volume growth, with inpatient admissions up 2.6% year-over-year, equivalent admissions increasing by 2.8%, and emergency room visits rising by 4%. Same facility revenue grew by ~6% year-over-year, with revenue per equivalent admission increasing by ~3%. The company also reported diluted EPS of $6.45, which was up over 20% year-over-year.
HCA Healthcare expanded its network in the quarter and increased its facilities/sites of care by 3.3% to ~2,750, and its inpatient bed capacity by about 2%. Inpatient occupancy in Q1 was 77%, which was higher than 75% last year. HCA Healthcare also spent $227 million on acquisitions, which included Catholic Medical Center and Lehigh Medical Center. The company received $161 million from asset sales, primarily from the sale of Regional Medical Center of San Jose.
HCA Healthcare Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities in the US. It operates general and acute care hospitals that offer medical and surgical services, such as inpatient care and outpatient services.
3. Elevance Health Inc. (NYSE:ELV)
Forward P/E Ratio as of June 10: 11.32
Number of Hedge Fund Holders: 75
Elevance Health Inc. (NYSE:ELV) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Truist analyst David MacDonald slightly reduced the firm’s price target on Elevance Health from $510 to $500, while maintaining a Buy rating on the shares. Despite the adjustment, the analyst remains positive on Elevance Health’s substantial scale and local market share.
In Q1 2025, the company posted adjusted diluted EPS of $11.97, which showed over 10% year-over-year growth. For the full year, Elevance Health provided adjusted EPS guidance of $34.15 to $34.85. The company expanded its value-based oncology care model to Medicare Advantage in this quarter, following its success in the commercial sector. Elevance Health maintained strong retention rates in Medicare Advantage, supporting both margin and membership sustainability.
Carelon Services also experienced growth and broadened relationships with external payers and launched new contracts in post-acute and behavioral health. The company’s acquisition of CareBridge further enhanced capabilities in home and community-based services and contributed to a reduction in ER visits and institutional stays. However, Elevance Health faced elevated cost trends in its Medicaid business.
Elevance Health Inc. (NYSE:ELV) is a health benefits company in the US. It operates through 4 segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. The company was formerly known as Anthem Inc. and changed its name to Elevance Health Inc. in June 2022.
2. Western Digital Corporation (NASDAQ:WDC)
Forward P/E Ratio as of June 10: 10.35
Number of Hedge Fund Holders: 78
Western Digital Corporation (NASDAQ:WDC) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Western Digital to $71 from $62, while maintaining a Buy rating on the shares. This optimism stems from insights gained at the 2025 BofA Global Technology Conference, where analysts became more bullish on the Hard Disk Drive/HDD industry.
BofA anticipates that the increasing demand from hyperscale customers will outpace Exabyte production growth over the next few quarters, which would favorably position the HDD sector and suggest potential gains for Western Digital investors. In FQ3 2025, Western Digital’s revenue was $2.3 billion, which was up 31% year-over-year. Cloud revenue alone contributed $2 billion, which accounted for 87% of total revenue and grew by 38%.
Client revenue was $137 million (6% of total), down 2% sequentially and year-over-year, while consumer revenue was $150 million (7% of total), declining 13% sequentially and 4% year-over-year. Operating expenses were $324 million, down sequentially, leading to an operating income of $596 million, an 85 basis point sequential increase. The operating margin improved by 1.5 percentage points sequentially to 26.0%. Western Digital also reported $3.5 billion in cash and cash equivalents, $7.4 billion in gross debt outstanding, and an inventory of $1.3 billion (86 days). The net leverage ratio was 1.7 times.
The company completed the planned separation of its Flash business in the quarter, which allowed it to focus on core HDD operations. Furthermore, Western Digital secured long-term agreements with two of its largest hyperscale customers, which provided demand visibility through H1 2026. The company is also on track with its Heat-Assisted Magnetic Recording/HAMR technology milestones and collaborated closely with two hyperscale customers while receiving positive feedback.
Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions internationally.
1. Qualcomm Incorporated (NASDAQ:QCOM)
Forward P/E Ratio as of June 10: 12.95
Number of Hedge Fund Holders: 82
Qualcomm Incorporated (NASDAQ:QCOM) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Qualcomm announced its agreement to acquire Alphawave IP Group for an implied enterprise value of ~$2.4 billion. The acquisition will be carried out through Qualcomm’s indirect wholly-owned subsidiary, called Aqua Acquisition Sub LLC. This move aims to expand Qualcomm’s presence in the booming AI data center market and reduce its reliance on smartphone chips.
Cristiano Amon, President and CEO of Qualcomm, stated that Alphawave’s high-speed wired connectivity and compute technologies are complementary to Qualcomm’s power-efficient CPU and NPU cores, which include their next-gen custom Qualcomm Oryon CPU and Qualcomm Hexagon NPU processors. This acquisition is expected to provide key assets for Qualcomm’s expansion into data centers, where growth in AI inferencing is driving demand for high-performance, low-power computing.
Alphawave shareholders will be offered 183 pence per share in cash. This represents a premium of ~96% to Alphawave’s closing price on March 31, which was the day immediately preceding Qualcomm’s disclosure of its interest. The deal is not anticipated to face material regulatory obstacles, especially after Alphawave exited its Chinese joint venture, WiseWave, on June 9. The acquisition is expected to be completed during Q1 2026, pending certain conditions.
Qualcomm Incorporated (NASDAQ:QCOM) develops and commercializes foundational technologies for the wireless industry worldwide. It operates through 3 segments: Qualcomm CDMA Technologies/QCT, Qualcomm Technology Licensing/QTL, and Qualcomm Strategic Initiatives/QSI. Alphawave IP Group is a Canadian-founded semiconductor company domiciled in the UK. The company’s expertise includes ‘serdes’ technology, which enhances chip data-processing speeds for AI development.
While we acknowledge the potential of QCOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QCOM and that has 100x upside potential, check out our report about this cheapest AI stock.
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Disclosure: None.
