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4 Electronics Stocks to Buy Right Now Amid Coronavirus Woes
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The electronics industry has been gaining on account of the coronavirus pandemic-led work-from-home and learn-from-home trends.
The trends are leading to the growing proliferation of laptops, notebooks, office equipment, and network peripherals, which have turned out to be boons for electronics companies.
Moreover, the rapid adoption of cloud computing technology and the rising need for data centers to ensure an efficient remote working environment are benefiting electronics companies offering supply chain solutions.
Apart from remote working and learning, the increasing use of medical devices such as electronic monitoring devices, infrared laser thermometer and thermal imaging cameras due to therising risk of the COVID-19 infection throughout the world has spurred the demand for electrical equipment.
Additionally, the growing requirement of advanced packaging in the miniaturization of electronic products, which is gaining strong traction in the semiconductor industry, remains a major positive.
Furthermore, the solid adoption of AI and industrial revolution 4.0, which focuses on interconnectivity, automation, Machine Learning (ML) and real-time data, is a tailwind.
Also,the growing proliferation of fitness trackers and smartwatches, high-end smartphones, smart speakers, andsmart cars and autonomous vehicles is fuelling the demand for electronic components.
Additionally, the growing popularity, and use of collaborative robots and drones by various industries are benefiting the electronics industry.
Further, the increasing deployment of 5G holds near-term promises for participants of the underlined industry. An uptick in the demand for 5G test solutions, which are required for 5G deployment, is a major positive. Moreover, the current coronavirus outbreak-triggered work-from-home wave globally, which is bolstering demand for high-speed Internet services, bodes well for electronic companies that are enhancing their 5G efforts.
We note that all the above-mentioned facts are shaping thefuture growth trajectory of the electronic industry. Moreover, they are creating an extremely conducive growth environment for electronic stocks in the near term.
Considering this upbeat scenario, we believe fundamentally strong electronics stocks offer lucrative investment opportunities.
Our Picks
Per the Zacks’ proprietary methodology, companies with the combination of a Growth Score of A or B with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer solid investment opportunities.
Based on this, here we picked four stocks that boast a perfect mix of elements and solid fundamentals.
Jabil (JBL - Free Report) is benefiting from contract wins in healthcare and automotive. Further, strong momentum across retail and industrial sectors remain major positives for the company.
Additionally, the company is expected to continue gaining from the rapid adoption of 5G wireless and cloud computing.Further, the company’s efforts to optimize manufacturing footprint are expected to drive profits in the near term. Additionally, the Johnson & Johnson deal remains a major growth driver for the company.
Jabil currently sports a Zacks Rank #1 and has a Growth Score of A. The consensus mark for its fiscal 2021 earnings has been revised upward by 14.1% over the past 60 days to $4.04 per share.
Keysight Technologies (KEYS - Free Report) is well-poised to capitalize on the accelerating 5G deployment. The company is witnessing strengthening orders from 5G device and design developers.
Further, solid momentum across semiconductor measurement solutions,owing to the growing clout of high-speed networking, smartphone processors, and high-performance data center applications, remains a major positive. Additionally, the company is likely to gain from improving supply-chain management and high government spending.
Keysight Technologies currently flaunts a Zacks Rank #1 and has a Growth Score of B. The consensus mark for its fiscal 2020 earnings has been revised upward by 12.2% over the past 60 days to $4.70 per share.
Alpha and Omega Semiconductor (AOSL - Free Report) is gaining strong momentum in the power semiconductor market. Further, the coronavirus outbreak-induced growing sales of gaming, TVs and Home Appliances are benefiting the company’s performance in the consumer end-market.
Additionally, the improving AC-DC power supply business, owing to the strong demand for adapters used for PCs and gaming systems, remains a tailwind. Further, growing shipments of the company’s products required in computing and gaming applications are major positives.
Alpha and Omega Semiconductor currently has a Zacks Rank #2 and a Growth Score of B. The consensus mark for its fiscal 2021 earnings has been revised upward by 92.9% over the past 60 days to $1.37 per share.
Alpha and Omega Semiconductor Limited Price and Consensus
Entegris (ENTG - Free Report) is gaining on the solid demand for its leading-edge solutions required in advanced technology nodes. Further, the growing adoption of the company’s 2 NMTorrento liquid filter and high-purity liquid containers remains a major positive.
Additionally, strong momentum across advanced memory and logic customers is a tailwind. Also, growing traction across advanced deposition materials and cleaning chemistries are expected to continue benefiting the company.
Entegris currently has a Zacks Rank #2 and Growth Score of B. The consensus mark for its 2020 earnings has been revised upward by 0.4% over the past 60 days to $2.39 per share.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Shutterstock
4 Electronics Stocks to Buy Right Now Amid Coronavirus Woes
The electronics industry has been gaining on account of the coronavirus pandemic-led work-from-home and learn-from-home trends.
The trends are leading to the growing proliferation of laptops, notebooks, office equipment, and network peripherals, which have turned out to be boons for electronics companies.
Moreover, the rapid adoption of cloud computing technology and the rising need for data centers to ensure an efficient remote working environment are benefiting electronics companies offering supply chain solutions.
Apart from remote working and learning, the increasing use of medical devices such as electronic monitoring devices, infrared laser thermometer and thermal imaging cameras due to therising risk of the COVID-19 infection throughout the world has spurred the demand for electrical equipment.
Additionally, the growing requirement of advanced packaging in the miniaturization of electronic products, which is gaining strong traction in the semiconductor industry, remains a major positive.
Furthermore, the solid adoption of AI and industrial revolution 4.0, which focuses on interconnectivity, automation, Machine Learning (ML) and real-time data, is a tailwind.
Also,the growing proliferation of fitness trackers and smartwatches, high-end smartphones, smart speakers, andsmart cars and autonomous vehicles is fuelling the demand for electronic components.
Additionally, the growing popularity, and use of collaborative robots and drones by various industries are benefiting the electronics industry.
Further, the increasing deployment of 5G holds near-term promises for participants of the underlined industry. An uptick in the demand for 5G test solutions, which are required for 5G deployment, is a major positive. Moreover, the current coronavirus outbreak-triggered work-from-home wave globally, which is bolstering demand for high-speed Internet services, bodes well for electronic companies that are enhancing their 5G efforts.
We note that all the above-mentioned facts are shaping thefuture growth trajectory of the electronic industry. Moreover, they are creating an extremely conducive growth environment for electronic stocks in the near term.
Considering this upbeat scenario, we believe fundamentally strong electronics stocks offer lucrative investment opportunities.
Our Picks
Per the Zacks’ proprietary methodology, companies with the combination of a Growth Score of A or B with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer solid investment opportunities.
Based on this, here we picked four stocks that boast a perfect mix of elements and solid fundamentals.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Jabil (JBL - Free Report) is benefiting from contract wins in healthcare and automotive. Further, strong momentum across retail and industrial sectors remain major positives for the company.
Additionally, the company is expected to continue gaining from the rapid adoption of 5G wireless and cloud computing.Further, the company’s efforts to optimize manufacturing footprint are expected to drive profits in the near term. Additionally, the Johnson & Johnson deal remains a major growth driver for the company.
Jabil currently sports a Zacks Rank #1 and has a Growth Score of A. The consensus mark for its fiscal 2021 earnings has been revised upward by 14.1% over the past 60 days to $4.04 per share.
Jabil, Inc. Price and Consensus
Jabil, Inc. price-consensus-chart | Jabil, Inc. Quote
Keysight Technologies (KEYS - Free Report) is well-poised to capitalize on the accelerating 5G deployment. The company is witnessing strengthening orders from 5G device and design developers.
Further, solid momentum across semiconductor measurement solutions,owing to the growing clout of high-speed networking, smartphone processors, and high-performance data center applications, remains a major positive. Additionally, the company is likely to gain from improving supply-chain management and high government spending.
Keysight Technologies currently flaunts a Zacks Rank #1 and has a Growth Score of B. The consensus mark for its fiscal 2020 earnings has been revised upward by 12.2% over the past 60 days to $4.70 per share.
Keysight Technologies Inc. Price and Consensus
Keysight Technologies Inc. price-consensus-chart | Keysight Technologies Inc. Quote
Alpha and Omega Semiconductor (AOSL - Free Report) is gaining strong momentum in the power semiconductor market. Further, the coronavirus outbreak-induced growing sales of gaming, TVs and Home Appliances are benefiting the company’s performance in the consumer end-market.
Additionally, the improving AC-DC power supply business, owing to the strong demand for adapters used for PCs and gaming systems, remains a tailwind. Further, growing shipments of the company’s products required in computing and gaming applications are major positives.
Alpha and Omega Semiconductor currently has a Zacks Rank #2 and a Growth Score of B. The consensus mark for its fiscal 2021 earnings has been revised upward by 92.9% over the past 60 days to $1.37 per share.
Alpha and Omega Semiconductor Limited Price and Consensus
Alpha and Omega Semiconductor Limited price-consensus-chart | Alpha and Omega Semiconductor Limited Quote
Entegris (ENTG - Free Report) is gaining on the solid demand for its leading-edge solutions required in advanced technology nodes. Further, the growing adoption of the company’s 2 NMTorrento liquid filter and high-purity liquid containers remains a major positive.
Additionally, strong momentum across advanced memory and logic customers is a tailwind. Also, growing traction across advanced deposition materials and cleaning chemistries are expected to continue benefiting the company.
Entegris currently has a Zacks Rank #2 and Growth Score of B. The consensus mark for its 2020 earnings has been revised upward by 0.4% over the past 60 days to $2.39 per share.
Entegris, Inc. Price and Consensus
Entegris, Inc. price-consensus-chart | Entegris, Inc. Quote
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>