3 Strong IoT Stocks to Buy NOW

Jun 21, 2018 | GROWTH, STOCK PICKS

The Internet of Things (IoT) is a rapidly evolving branch of technology that involves anything connected to the Internet. This includes wearable technology, industrial machinery, and your home’s refrigerator. The companies that are innovating in this growing field are starting to become very prominent on the exchanges. If you are an investor interested in getting involved in a new field that is growing rapidly, then you will want to take a look at these three IoT stocks.

Sierra Wireless

Sierra Wireless (NASDAQ: SWIR) is an up and coming manufacturer of the modules and chips that are found in an increasing number of IoT devices. You will find Sierra parts in everything from wearable cameras to the technological infrastructure of a smart city.

The hardware side of Sierra has been struggling a bit along with many other top OEM manufacturers, but the reason Sierra makes this list is its bright future in IoT services. Not many companies are laying the foundation for strong IoT services, but Sierra boosted its services revenue to $22.5 million during the first three months of 2018.

While IoT investors are always looking for the next great equipment innovator, there will also be a strong need for a services company as well. The IoT services offering of Sierra is still in its infancy, but it is growing rapidly and working to make Sierra Wireless a leader in intangible revenue for the IoT sector.

Vishay Intertechnology

Vishay Technologies (NYSE: VSH) has become an expert at designing and manufacturing the semiconductors needed to help perpetuate the IoT. The company is known for innovating semiconductor designs that meet size requirements most other manufacturers cannot match.

Vishay is also known for its business savvy as it does not limit itself in terms of clients. You will find Vishay semiconductors in products ranging from biomedical monitors to household appliances.

In 2018, the company is expected to see an earnings boost of around 24.5 percent. This earnings increase, along with a 14 percent increase in stock sales, shows the signs of creating momentum that would be worth investing in.

Skyworks Solutions

Skyworks Solutions (NASDAQ: SWKS) is one of the few veteran technology companies that is starting to successfully transition to the IoT field. Skyworks makes semiconductors for Apple and Samsung smartphone products. The company has already found success in that part of the semiconductor world, but now it is also starting to move into the IoT.

Skyworks is getting involved in self-driving cars and the growing need for Internet connectivity with cars. The company says it expects to see 33 million self-driving cars on the road by 2040, and Skyworks wants to be at the forefront of the IoT technology that all of these cars will have.

There are many companies that are finding niches in the rapidly growing world of IoT technology. Investors will want to keep their eyes on the new companies that are filling early needs and the successful companies that are looking to be part of the Internet’s future.