NETGEAR Inc
NTGR
has announced the launch of WAX220 WiFi 6 AX4200 Dual-band Access Point (WAX220) to tap the growing demand for cheap and fast network connectivity.
The new product is an addition to the company’s business essential line of access points and delivers total WiFi throughput speeds up to 4.2Gbps, and includes a 2.5 Gbps Power-over-Ethernet (PoE) ethernet port for data deployment.
The WAX220 uses WiFi 6 Release 2 technology to provide 2 and 3 WiFi streams on the 2.4GHz band and 5GHz band, respectively, and provides 100% more throughput than the existing versions of WiFi 6, added the report. In comparison to the WiFi 5 access points, the new product supports four times the device connections.
The WAX220 supports all the latest WiFi 6-enabled smartphones, devices and notebook computers to provide its users with a cost-effective yet easy-to-install solution for their connectivity needs.
Customers can purchase the product for $199.99 from the company’s website and install the WiFi within 10 minutes without any complexity.
The new product can be connected to a router through an ethernet cable powered by a power adapter or via an ethernet cable to a PoE switch behind the router.
The new product has a coverage area of roughly 2000 square feet. However, customers can add WAX220 units to their network, configure them with the same WiFi network settings to cover various locations or set up many independent WiFi networks with different passwords to cover a broader area.
Per a report from
Markets and Markets
, the global WiFi 6 market size is expected to grow from $11.5 billion in 2022 to $26.2 billion by 2027, at a CAGR of 17.9%. The industry is expected to benefit from increased WiFi users and increased proliferation of smart devices, added the report.
The company continues to invest heavily in research and development to expand its product line. Recently, the company
announced
the launch of WAX628 and WAX638E WiFi 6 and 6E access points and services to tap the residential installer market.
The WAX628 and WAX638E offer speeds up to 5.4 Gbps and 7.8 Gbps, respectively. It also extends the Wi-Fi range without using ethernet wiring and can be paired with all the existing WiFi endpoints.
Prior to that, the company announced the launch of the Nighthawk AXE3000 Wi-Fi 6E USB 3.0 Adapter (A8000) to further boost Internet connectivity and improve WiFi speed.
The recent product launch of WAX220 complements the previous launches of Nighthawk AXE3000 and WAX628, and WAX638E to provide users with high-speed Internet connectivity.
NETGEAR currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 36.8% compared with the
industry’s
decline of 22.7% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are
Arista Networks
ANET
,
Plexus
PLXS
and
Super Micro Computer
SMCI
, each presently sporting a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 8.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 11.1% in the past year.
The Zacks Consensus Estimate for Plexus 2023 earnings is pegged at $5.98 per share, rising 8.9% in the past 60 days.
Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 17.5%. Shares of PLXS have gained 11.3% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2023 earnings is pegged at $9.58 per share, rising 19.8% in the past 60 days.
Super Micro Computer’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 9.4%. Shares of SMCI have soared 83.6% in the past year.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
