The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022.

Value investors are likely seeing some surprising names pop up in their search for cheap names these days. Instead of consumer staples and energy stocks, more coveted tech names are likely catching the eye of these types of investors.

After bearing the brunt of the bear market, many once high-flying technology shares are now trading at deep discounts relative to their past valuations. It’s gotten so bad that the benchmark for value stocks, the Russell 1000 Value Index, added several one-time growth bellwethers to its membership during a rebalance on Friday.

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