Hot Hardware Stocks For Your Watchlist Right Now

Hardware stocks are among the better-performing stocks in the

stock market

over the past year. Of course, this was mostly driven by the increased demand for technological items caused by the pandemic. Most of the time, software companies are the ones making the headlines while hardware companies lay the foundation. Some notable hardware companies like

Intel

(

NASDAQ: INTC

) and

Cisco Systems

(

NASDAQ: CSCO

) provide the necessary networking and computing hardware that form the basis of servers, and data centers.

It is also not a secret that there has been a shortage of chips all over the world. This further illustrates the reliance on hardware as technology advances. Earlier in April, Intel stated that it will commit $20 billion to two new manufacturing facilities to ramp up production. Meanwhile,

Taiwan Semiconductor Manufacturing Co

(

NYSE: TSM

) also has plans to spend $100 billion over the next 3 years to expand its chip manufacturing capacity. In conclusion, every piece of technology that we see and rely on today would need a fully functional piece of hardware. Would there be a day where this would not be the case? As of now, nothing would suggest that. So, let’s check out these 4

top hardware stocks

to watch now.

Top Hardware Stocks To Watch This Week

• 
  Logitech International SA
  
  (
  
  NASDAQ: LOGI
  
  )
• 
  Dell Technologies Inc
  
  (
  
  NYSE: DELL
  
  )
• 
  HP Inc
  
  (
  
  NYSE: HPQ
  
  )
• 
  QUALCOMM, Inc
  
  (
  
  NASDAQ: QCOM
  
  )

Logitech International SA

Logitech

is a company that designs, manufactures, and markets products that connect people through music, gaming, video, computing, and other digital platforms. It sells its products through a network of distributors, and retailers under the Logitech, ASTRO Gaming, Streamlabs, Ultimate Ears, and Jaybird brands. For most parts, it is known for its computer peripherals such as mice, keyboards, headsets, gamepads, and webcams.

Yesterday, Logitech announced its first-quarter earnings report. The company started its fiscal year strongly with sales of $1.31 billion, up by 58% in constant currency. Moreover, its GAAP operating income grew 143% to $203 million. This is a testament to the company’s excellent operational execution, and ability to capitalize on long-term trends. We have seen the rise of esports, streaming, and content creation everywhere. All these are in line with what the company has to offer long term.

The company is also tapping deeper into the gaming industry as it introduced a new, lightweight headset to its Color Collection, the Logitech G335 Wired Gaming Headset. The headset comes in three colors including the new Mint colorway. To complete the collection, the G305 Wireless Gaming Mouse is also available in Mint. As it stands, it is one of the lightest gaming headsets on the market. With these developments, would you add LOGI stock to your watchlist today?

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Dell Technologies Inc

Following that, we have the multinational computer technology company,

Dell

. It operates through two segments, namely, Client Solutions and Enterprise Solutions Group. The company’s offerings include hardware, such as desktop personal computers, notebooks and tablets, and peripherals, such as monitors, printers, and projectors. DELL stock has been steadily rising over the past year. It is posting gains of over 50% within the period.

Last Tuesday, NBC Sports Group selected Dell to provide high-performance storage systems for its production of the Games of the XXXII Olympiad taking place in Tokyo, Japan. NBC will be using the Dell EMC PowerScale family of storage systems to digitally store video content for sharing with viewers of the U.S. With this, NBC will be able to reliably store and manage more than 7,000 hours of athletic heroics across its networks and streaming platforms.

Financially, the company is as strong as ever, coming off the best sales year in its history. The company stepped on the pedal in its fiscal 2022 with record-breaking first-quarter earnings. Its revenue came in at $24.5 billion, up 12% year-over-year. Out of which, product revenue was $18 billion. Meanwhile, its operating income was $1.4 billion, an increase of 96%. All these came as a result of the surge in remote work and education around the globe. With this in mind, would DELL stock be at the top of your watchlist?

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HP Inc

Next on the list, we have one of the industry leaders in computer hardware,

HP

. Essentially, it provides personal computing, and other access devices, imaging, and printing products. The company serves individual consumers, small to medium-sized businesses, and large enterprises. This includes the government, health, and education sectors. In line with the rising personal computer sales, the company’s stock has risen more than 50% over the past year.

Last month, HP announced its lightest consumer laptop yet, the HP Pavilion Aero 13 Laptop PC. We can see the company keeping pace with trends with this new laptop that could weigh less than 1 kilogram. As things start to return to normalcy, people will require a PC that can move with them. Hence, people can work hard and play hard no matter where they are, on a lightweight device.

Furthermore, the company announced its currently shipping portfolio of Windows-based PCs is expected to be upgradeable to Windows 11. So, HP users will continue to enjoy the best PC experiences. This is important as we have seen how tech has been rapidly evolving, making it difficult to keep up at times. All things considered, would you consider investing in HPQ stock?

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QUALCOMM, Inc

To sum it up, the leading hardware company,

QUALCOMM

makes the list. In detail, it is a company that engages in the development, and commercialization of foundational technologies. These can be found in mobile devices, and other wireless products. The company is best known for designing the Snapdragon chips that power most Android phones. So, you will not be a stranger to Qualcomm if you own one such device.

For the longest time, processor suppliers have had no chips as energy efficient as

Apple’s

(

NASDAQ: AAPL

). However, the company believes that it can have the best chip on the market by next year. This would put the company in a strong position to compete with the best in the industry. It will be relying on a team of chip architects who formerly worked on the Apple chip but now work at Qualcomm.

The company will be counting on revenue growth from China to power its core smartphone chip business. Also, Qualcomm is pushing 5G connectivity into laptops, it is pairing modems with a powerful central processing unit (CPU). One thing to note is that the company is seeking custom-designed chips in order to rival new laptops from Apple. Hence, the acquisition of Nuvia earlier this year. These positive signs are all suggestive of a company motivated by growth. So, would you buy into the future of QCOM stock?