The demand for personal computers (PCs), laptops, and tablets has skyrocketed amid the COVID-19 pandemic. According to Gartner, Inc.’s (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 – Get Rating), Markforged Holding Corporation (MKFG – Get Rating), and Quantum Corporation (QMCO – Get Rating) 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.
DM manufactures and sells additive manufacturing solutions, such as its Production System, Shop System, Studio System, and Fiber. In addition, the Burlington, Mass.-based concern makes 3D printing accessible to all engineers, designers, and manufacturers with the help of its solutions. The company serves various industries, including automotive, aerospace, healthcare, consumer products, and heavy industry.
On September 9, DM acquired Aidro, a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM). The acquisition is expected to help DM expand its product portfolio with the help of Aidro’s industry-leading AM 2.0 technology portfolio.
DM’s total revenue increased 766.9% year-over-year to $18.98 million for its fiscal second quarter, ended June 30, 2021. The company’s gross profit was t $2.37 million, versus an $8.29 million loss in the year-ago period. Its non-GAAP net loss came in at $21.40 million, versus $22.53 million in the prior-year quarter.
For its fiscal year 2021, analysts expect DM’s revenue to be $101.06 million, representing a 513.6% year-over-year rise. In addition, the company’s EPS is expected to increase 61.4% year-over-year in fiscal 2021.
The stock has lost 6.5% in price over the past month to close yesterday’s trading session at $7.83. However, Wall Street analysts expect the stock to hit $13.75 in the near term, which indicates a potential 75.6% upside.
Industrial additive manufacturing provider MKFG offers end-to-end metal and carbon fiber 3D printers, 3D printers for continuous fiberglass reinforced parts, and refined FFF 3D printers for micro carbon fiber-filled nylon parts. In addition, it offers four fibers: carbon fiber, fiberglass, kevlar, and high-strength high-temp (HSHT) fiberglass. MKFG is in Watertown, Mass.
MKFG introduced its…
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