2 No-Brainer Tech Stocks to Buy Right Now

Looking for overlooked opportunities in

See why these stocks might deserve a spot on your right now

Many stocks have soared recently, but there are still bargains to be found at the corner of Wall Street and Silicon Valley

Here are two recent underperformers that deserve better, making them no-brainer buys in July

They trade at the bargain-bin valuation of 9. 8 times earnings and 9. 0 times free cash flows

In other words, HP is a richly fitable cash machine, but its stock isn't getting any love from traders and investors

I know that the company isn't always meeting Wall Street's expectations

May's second-quarter report, for example, fell short of the analyst community's consensus earnings target, despite a stronger top-line revenue performance than expected

Ing sales were down but HP sold plenty of computers, especially in the category of commercial-grade workstations

When Wall Street gives you lemons

Image source: Getty Images

Looking ahead, HP expects rocky results in the second half of its fiscal year

The company is also ramping up its manufacturing capacity in places Vietnam, Thailand, and North America in an effort to mitigate the costs of border-crossing trade tariffs

That's a smart long-term plan, but a costly one in the building phase

It's a step down, but largely due to the costly manufacturing transition -- and that's an investment that should boost long-term fits

So I think the market has overreacted to HP's recent financial struggles

You can pick up a few s at a fantastic discount right now, while HP is spending big money on a more robust manufacturing system

It's alright if it takes a few years to fully realize the positive effects of this move

Is a marathon, not a s

Criteo could bounce back sooner than you think Then there's digital advertising expert Criteo (CRTO -0

The stock's valuation is similar to HP's, but with an even lower price to free cash flow ratio of 5

Another difference is that Criteo has been crushing analyst expectations across the board for several years

Now, this achievement still involves some very modest growth rates and the occasional dip, since the shaky global economy isn't kind to ad- companies

It's hard to find a budget for splashy ad campaigns when nobody is ready to spend money on your goods, you know

On that note, Criteo's price dip might last a while longer

It's hard to beat the rock-bottom valuation you see in Criteo's stock right now

At the same time, the company is applying artificial intelligence tools to its advertising platform, and introduced a brand new auction-style selling model just last month

Management expects this multi-channel tool to work particularly well for retailers

For Criteo, the auctions should result in higher customer satisfaction and more efficient ad-space pricing

But the economic instability won't last forever, and Criteo's stock is incredibly cheap today

Together with consistently robust cash flows, this solid balance sheet allows Criteo (and its investors) the luxury of waiting for better times

There's no financial crisis going on here

I can't wait to see how the company will perform when it applies the belt-tightening lessons learned in this economy to a healthier market

Anders Bylund has positions in Criteo

The Motley Fool has positions in and recommends HP

The Motley Fool recommends Criteo

The Motley Fool has a disclosure policy.