The computer hardware industry is expected to continue growing due to unabating remote working trends and digital transformation. So, Wall Street analysts expect hardware stocks Desktop Metal (DM), Markforged (MKFG), and Quantum (NASDAQ:QMCO) to rally in price significantly in the near term. Thus, we think it could be wise to add these stocks to one’s watchlist.The demand for personal computers (PCs), laptops, and tablets has skyrocketed amid the COVID-19 pandemic. According to Gartner , Inc.’s (NYSE:IT) research report, worldwide PC shipments totaled 71.6 million units in the second quarter of 2021, representing a 4.6% year-over-year increase.
With several companies delaying their employees’ return to offices due to the resurgence of the COVID-19 cases, the demand for computer hardware is expected to increase in the coming months because they play a crucial role in facilitating remote work. In addition, an ongoing digital transformation should drive the demand for computer hardware. While the global chip shortage continues to impact the computer hardware industry, government and private-sector initiatives to boost semiconductor production should address this concern.
Given this backdrop, Wall Street analysts expect computer hardware stocks Desktop Metal, Inc. (DM), Markforged Holding Corporation (MKFG), and Quantum Corporation (QMCO) to rally more than 70% in price in the coming months. So, it could be wise to add these stocks to one’s watchlist now.