With the resurgence of COVID-19 cases, the networking industry is seeing rising demand for its products and solutions from enterprises seeking to facilitate remote working. This, combined with industry’s ongoing digital transformation, should keep driving the performance of networking companies. Therefore, we think fundamentally sound networking stocks Cisco (CSCO), Nokia (NYSE:NOK), and Viavi (VIAV) could be worth buying now. Read on please.The resurgence of COVID-19 cases due to the rapid spread of the COVID-19 Delta variant is forcing many companies to prolong remote working arrangements. Consequently, the demand for advanced and efficient networking products and solutions is on the rise. In addition, the proliferation of the Internet of Things (IoT), the need for networking security, the use of AR/VR devices with the availability of 5G technology, and the approval of a bipartisan infrastructure bill in Congress (which promises improved internet access) should drive the networking industry’s growth.
Furthermore, the continued digital transformation should keep networking solutions in demand. The global Virtual Networking market size is projected to grow at a 19.4 % CAGR between 2021 - 2026.
We believe that the growing demand for networking solutions should drive the performance of fundamentally sound networking stocks Cisco Systems, Inc. (NASDAQ:CSCO), Nokia Corporation (NOK), and Viavi Solutions Inc. (NASDAQ:VIAV). Therefore, it could be wise to bet on these stocks now.