The rising demand for electronics for work, lifestyle, and entertainment purposes has been driving the industry’s growth. So, we think it could be wise to now scoop up shares of fundamentally strong electronic companies Panasonic (OTC:PCRFY), Toshiba (OTC:TOSYY), and Arrow (ARW). These names are trading significantly below their 52-week highs. Read on.The demand for electronics soared last year because people were forced to spend most of the time indoors amid the COVID-19 pandemic, relying on smart gadgets for their work, education, and entertainment. With pandemic-related restrictions gradually easing, the production of electronics is expected to gradually return to pre-pandemic levels.
While the global semiconductor shortage could continue affecting the manufacture of electronics in the near term, increasing government and private investments to address the shortage should help the industry gradually meet high demand that is being driven by an accelerated pace of digitization and the increasing adoption of advanced technologies, such as Internet of things (IoT) and artificial intelligence (AI). According to a Globe Newswire report, the value of the consumer electronics market is expected to be more than $1.5 trillion by 2027.
Because the long-term prospects of the electronics industry look promising, we think it could be wise to bet on fundamentally-sound electronics companies Panasonic Corporation (PCRFY), Toshiba Corporation (TOSYY), and Arrow Electronics , Inc. (NYSE:ARW). They are each currently trading below their 52-week highs but have immense upside potential.