One of the side effects of the restrictions placed on business activity was that companies making tools and hardware required for other businesses to function took a huge hit in sales as economic activity ground to a complete halt. Hardware is a vast industry, comprising both computer hardware and general hardware. Qualcomm, a leading hardware company, recently beat analysts’ estimates for the first quarter as the company’s 5G hardware sales were better than expectations. Even though networking and data center hardware remains one of the key focus areas for Cisco, it’s diversifying its revenue stream to shift towards software. Hand-held tools usually comprise products that are not powered by electricity. Snap-on Incorporated has recently diversified its business model and is exploring strategic investments in the technology sector to further boost the core business of the firm. As US President Biden pledges increased spending on American manufacturers, the tool-making firm could benefit from the incentives the government offers to help local firms expand operations.
Insider Monkey analyses a list of the 10 best hardware stocks to buy now. Our focus in this article is on general hardware stocks, including home improvement and tools companies. The technologies marketed by the company include epitaxy, ion implantation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, as well as selective deposition and removal, among others. Applied Materials, Inc. has a market cap of more than $128 billion and posted annual revenue of more than $20 billion in 2020. The Scotts Miracle-Gro Company is an Ohio-based company that manufactures and sells consumer lawn, garden, and pest control products. Masco Corporation is a Michigan-based firm that makes home improvement and home construction products. Masco is placed eighth on our list of 10 best hardware stocks to buy now. The products made by the firm include backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves. Earlier this week, the company launched Lync, a new product that provides pre-assembled domestic hot water solutions. Rocky is famous for being the supplier of footwear for the US military. For more details, check Insider Monkey’s article 10 Best Hardware Stocks to Buy Now.
