The demand for computer hardware is expected to grow amid hybrid working trends and the continuing digital transformation. So, we think it could be wise now to add soaring computer hardware stocks Arista Networks (NYSE:ANET), IonQ (IONQ), and Velo3D (VLD) to one’s watchlist. Read on.Because several companies are expected to extend remote or hybrid working arrangements for the foreseeable future, and the digitization of business processes continues, computer hardware companies are expected to see robust demand. Indeed, the computer hardware industry’s sales increased 23.4% year-over-year in the third quarter.
The growing adoption of the internet of things (IoT), artificial intelligence (AI), and cloud-based products and services should increase the need for computer hardware. The global computer hardware market is expected to grow at a 9.4% CAGR this year.
Given this backdrop, we think it could be wise to add quality computer hardware stocks Arista Networks, Inc. (ANET), IonQ, Inc. (IONQ), and Velo3D, Inc. (VLD) to one’s watchlist.