diff --git a/mypy/modulefinder.py b/mypy/modulefinder.py
index fee484ae02fb..5637931a9ec6 100644
--- a/mypy/modulefinder.py
+++ b/mypy/modulefinder.py
@@ -553,11 +553,14 @@ def _find_module(self, id: str, use_typeshed: bool) -> ModuleSearchResult:
             return ancestor
 
         if approved_stub_package_exists(id):
-            return ModuleNotFoundReason.APPROVED_STUBS_NOT_INSTALLED
-        elif found_possible_third_party_missing_type_hints:
+            if len(components) == 1 or (
+                self.find_module(components[0])
+                is ModuleNotFoundReason.APPROVED_STUBS_NOT_INSTALLED
+            ):
+                return ModuleNotFoundReason.APPROVED_STUBS_NOT_INSTALLED
+        if found_possible_third_party_missing_type_hints:
             return ModuleNotFoundReason.FOUND_WITHOUT_TYPE_HINTS
-        else:
-            return ModuleNotFoundReason.NOT_FOUND
+        return ModuleNotFoundReason.NOT_FOUND
 
     def find_modules_recursive(self, module: str) -> list[BuildSource]:
         module_path = self.find_module(module, fast_path=True)