The stock market is facing some unique challenges at this point. For starters, the specter of inflation continues to push back the timelines for interest rate cuts that many had anticipated by now. Then there’s the incredibly uncertain geopolitical situation due to the Ukraine and Middle East conflict. Furthermore, the artificial intelligence (AI) catalyst hasn’t materialized as most expected. Hence, its probably not the best time to be thinking about the best $10 stocks

Consequently, the stock market is now in correction territory, with more pain in the upcoming weeks. Nevertheless, most analysts and the general public still believe in soft and no-landing scenarios. Moreover, according to Bank of America chairman and CEO Brian Moynihan, the Federal Reserve is one course to getting inflation to 2%. Therefore, within the next few months, we could be witnessing the start of a new bull run, which significantly adds to the attractiveness of these three best $10 stocks.

Best $10 Stocks: Grab (GRAB)

Grab (NASDAQ:GRAB) operates a ride-hailing platform and super app, effectively tapping into the mushrooming Southeast Asian middle class. Over the past several quarters, it has been an excellent performer, piquing investor interest last year, gaining more than 10%. However, it hasn’t taken off the way its business has in the past couple of years.

It boasts a spotless record of revenue beats in the past eight consecutive quarters, topping its first profitable quarter at the end of last year. Its fourth-quarter (Q4) report showed its first profit, an incredible feat considering it posted a whopping $391 million in the prior-year period. Moreover, it is expected to grow at a healthy 14% to 17% this year, positioning it for substantial long-term gains.

A lot of it has to do with the dynamic market it operates in, which is poised to continue growing at a considerable pace. According to Boston Consulting Group, in 2020, ASEAN’s middle class grew by 9% to 200 million, with a projected 5% annual increase in middle-income households through 2030.

inTest (INTT)

inTest (NYSEMKT:INTT) is a tech firm with a lot of promise. It’s a specialist in providing testing solutions for semiconductor manufacturers, focusing on integrated circuits and system-level assessments.

The semiconductor industry has been on fire in the past year or so, driven by the rapid advancements in AI. However, INTT stock remained out of favor with investors despite being a top performer in the past decade. In fact, its 181% gain over the past 10 years surpasses the S&P 500’s 167% increase during the same period.

Nonetheless, InTest has shown robust progress despite the headwinds in the semiconductor space. Over the years, it has operated as a profitable enterprise, with a net loss on just one occasion in the past decade. Moreover, its return on common equity and free cash flow (FCF) margins are over 11.50%, respectively. Despite its solid profile, it’s remarkably undervalued, with Tiprank’s analysts predicting a 63% upside from current price levels.

Himax Technologies (HIMX)

Himax Technologies (NASDAQ:HIMX) operates as a fabless semiconductor business, offering display-imaging processing technologies in China, Taiwan, and other countries. A fabless company like Himax effectively outsources the production of its chips to foundries, focusing its efforts on designing and selling the hardware.

It may not be a well-known name, but as InvestorPlace contributor Josh Enomoto notes, it’s a crucial “backstage” asset in consumer electronics. During the pandemic, the company experienced robust sales growth mainly due to the heightened demand for consumer electronics. However, growth rates have slowed substantially since then, but it’s judging its business based on the pandemic anomaly is unwise. Moreover, it beat analyst estimates in three of the past quarters on revenue while posting a solid 18-cent beat in its EPS during Q4. Analysts expect it to continue growing at a decent pace, while Wall-Street believes it is trading at a 44% discount to its intrinsic value.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.