The rising demand for efficient and high-capacity data storage devices and solutions amid the continuing digital transformation, and increasing use of advanced technologies for remote activities, should keep driving the computer hardware industry’s growth. Therefore, we think prominent hardware companies HP (HPQ), Toshiba (OTC:TOSYY), Lenovo (LNVGY), and Sharp (OTC:SHCAY) that look undervalued at their current price levels could be solid bets now. Let’s discuss.The continuing spread of the Delta variant of the COVID-19 in several countries may compel many businesses to return to fully remote operations. Also, several enterprises are adopting a hybrid working model as a long-term solution. So, an increasing need for devices to stay operational remotely and the rising demand for high-capacity data storage devices amid the global digital transformation of almost every industry should keep driving the computer hardware industry’s growth.
The global computer hardware market is expected to grow at 6% CAGR to reach $1.18 trillion by 2025.
Given this backdrop, we believe that undervalued computer hardware stocks HP Inc. (NYSE:HPQ), Toshiba Corporation (TOSYY), Lenovo Group Limited (OTC:LNVGY), and Sharp Corporation (SHCAY) will hit fresh highs soon, based on their strong fundamentals and innovations.