Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Looking for Tech Stocks? 3 That Are Great Buys Now By: StockNews.com November 14, 2022 at 09:30 AM EST Inflation showing signs of slowing has buoyed the tech sector recently. Moreover, due to rapid digital transformation, tech spending is expected to stay elevated. Therefore, Cisco Systems (CSCO), Juniper Networks (JNPR), and Celestica (CLS) could be solid buys for investors looking for tech stocks. Read on…The recent CPI report showed that inflation is finally cooling, raising expectations of slowing the Fed’s policy tightening. This buoyed the stock market. The tech sector in the S&P 500 surged 10% through Friday, posting its best weekly performance since April 2020. The tech-heavy Nasdaq Composite added 8.1% on a weekly basis as investors snapped up tech shares.Although the tech downturn and layoffs have made headlines this year, analysts are still bullish on the sector. Tech demand is expected to retain its growth as businesses and workers move toward digitalization. Moreover, analysts believe that tech spending will rise in the near term.Furthermore, the global digital transformation market size was evaluated at $608.72 billion in 2021 and is expected to expand at a CAGR of 23.1% from 2022 to 2030.Given this backdrop, it could be wise to buy fundamentally sound tech stocks Cisco Systems, Inc. (CSCO), Juniper Networks, Inc. (JNPR), and Celestica Inc. (CLS) now.Cisco Systems, Inc. (CSCO)CSCO manufactures and sells Internet Protocol-based networking and other products related to the communications and information technology industry. The company serves businesses of various sizes, governments, public institutions, and service providers.On November 1, CSCO expanded its portfolio of specializations available through the company’s partner program. The six new specializations would focus on customer priorities and represent fast-growing market opportunities for the company and its partners in areas where CSCO has been innovating.On October 12, CSCO and Microsoft Corporation (MSFT) announced their partnership to add Microsoft Teams natively on Cisco Room and Desk devices certified for it. The offering is expected to be available in the first half of 2023.For the fiscal year ended July 30, 2022, CSCO’s total revenue increased 3.5% year-over-year to $51.56 billion. The company’s non-GAAP net income increased 3.4% year-over-year to $14.09 billion. CSCO’s non-GAAP EPS for the fiscal year increased by 4.3% from the prior year to $3.36.For the fiscal first quarter (ended October 2022), analysts expect CSCO’s revenue to come in at $13.29 billion, representing an increase of 3% year-over-year. For the same quarter, the consensus EPS estimate of $0.84 indicates a 2% year-over-year increase. The company has surpassed the consensus EPS estimates in each of the trailing four quarters, which is impressive.The stock has gained 10.3% over the past month to close its last trading session at $44.79.CSCO’s POWR Ratings reflect a promising outlook. It’s no surprise that CSCO has an overall B rating, which translates to Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.CSCO is also rated an A for Quality. Within the Technology - Communication/Networking industry, it is ranked #4 of 48 stocks.Click here to see the additional POWR Ratings for CSCO (Momentum, Value, Sentiment, Stability, and Growth).Juniper Networks, Inc. (JNPR)JNPR designs, develops, and sells network products and services worldwide. The company’s offerings include routing products, switching products, and security products.On October 25, JNPR announced a dividend of $0.21 per share, payable to stockholders on December 22. This reflects the company’s ability to pay back its stockholders sustainably.On October 11, JNPR announced that Virtual-Q, an IT Services and IT consulting provider, had selected Juniper Apstra data center solutions to modernize and automate its network infrastructure to provide a scalable and seamless customer experience. This should benefit the company.In the fiscal third quarter ended September 30, 2022, JNPR’s total revenue increased 19% to $1.41 billion. Non-GAAP operating income increased 23.2% year-over-year to $243.70 million. Non- GAAP net income came in at $190.80 million, while its net income per share stood at $0.58, up 25.5% and 26.1% from their year-ago values, respectively.For the fiscal fourth quarter (ending December 2022), analysts expect JNPR’s revenue to come in at $1.48 billion, representing an increase of 14.2% year-over-year. For the same quarter, the consensus EPS estimate of $0.65 indicates a 15.5% year-over-year increase. The company has surpassed the consensus revenue estimates in each of the trailing four quarters.The stock has gained 15.9% over the past month and 2.2% over the past five days to close its last trading session at $30.50.JNPR has an overall B rating, which translates to Buy in our proprietary rating system. The stock is also rated a B for Quality, Value, and Growth. Within the Technology - Communication/Networking industry, it is ranked #3.To see the additional POWR Ratings for Momentum, Sentiment, and Stability for JNPR, click here.Celestica Inc. (CLS)CLS operates as a hardware platform and supply-chain solutions provider. It operates through two segments: Advanced Technology Solutions and Connectivity & Cloud Solutions. The company is headquartered in Toronto, Canada.On October 18, 2022, CLS launched the DS1000 high-performance Gigabit Ethernet Layer 3 switch. This should benefit the company through its contribution to the OCP Enterprise Connectivity Solutions (ECS) group.On August 2, 2022, CLS launched three new storage arrays. The new generation arrays are expected to offer flexibility and widen the company’s consumer base with customized solutions.In the fiscal third quarter ended September 30, 2022, CLS’ IFRS revenue increased 31.1% year-over-year to $1.92 billion. For the same quarter, non-IFRS adjusted net earnings came in at $63.60 million, while its non-IFRS adjusted earnings per share stood at $0.52, up 46.5% and 48.6% from its year-ago value, respectively.For the fiscal fourth quarter (ending December 2022), analysts expect CLS’ revenue to come in at $1.96 billion, representing an increase of 29.7% year-over-year. For the same quarter, the consensus EPS estimate of $0.54 indicates a 21.9% year-over-year increase. The company has surpassed the consensus EPS estimates in each of the trailing four quarters.The stock has gained 29.2% over the past month and 6.8% over the past five days to close its last trading session at $11.45.CLS has an overall A rating, which translates to a Strong Buy in our proprietary rating system. It is also rated an A for Sentiment and Growth and a B for Value. Within the Technology – Services industry, it is ranked first out of 76 stocks.In addition to the POWR Rating grades we’ve stated above, one can see the additional CLS grades for Momentum, Quality, and Stability here.CSCO shares were trading at $45.32 per share on Monday afternoon, up $0.53 (+1.18%). Year-to-date, CSCO has declined -26.24%, versus a -14.90% rise in the benchmark S&P 500 index during the same period.About the Author: Anushka DuttaAnushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.More...The post Looking for Tech Stocks? 3 That Are Great Buys Now appeared first on StockNews.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Looking for Tech Stocks? 3 That Are Great Buys Now By: StockNews.com November 14, 2022 at 09:30 AM EST Inflation showing signs of slowing has buoyed the tech sector recently. Moreover, due to rapid digital transformation, tech spending is expected to stay elevated. Therefore, Cisco Systems (CSCO), Juniper Networks (JNPR), and Celestica (CLS) could be solid buys for investors looking for tech stocks. Read on…The recent CPI report showed that inflation is finally cooling, raising expectations of slowing the Fed’s policy tightening. This buoyed the stock market. The tech sector in the S&P 500 surged 10% through Friday, posting its best weekly performance since April 2020. The tech-heavy Nasdaq Composite added 8.1% on a weekly basis as investors snapped up tech shares.Although the tech downturn and layoffs have made headlines this year, analysts are still bullish on the sector. Tech demand is expected to retain its growth as businesses and workers move toward digitalization. Moreover, analysts believe that tech spending will rise in the near term.Furthermore, the global digital transformation market size was evaluated at $608.72 billion in 2021 and is expected to expand at a CAGR of 23.1% from 2022 to 2030.Given this backdrop, it could be wise to buy fundamentally sound tech stocks Cisco Systems, Inc. (CSCO), Juniper Networks, Inc. (JNPR), and Celestica Inc. (CLS) now.Cisco Systems, Inc. (CSCO)CSCO manufactures and sells Internet Protocol-based networking and other products related to the communications and information technology industry. The company serves businesses of various sizes, governments, public institutions, and service providers.On November 1, CSCO expanded its portfolio of specializations available through the company’s partner program. The six new specializations would focus on customer priorities and represent fast-growing market opportunities for the company and its partners in areas where CSCO has been innovating.On October 12, CSCO and Microsoft Corporation (MSFT) announced their partnership to add Microsoft Teams natively on Cisco Room and Desk devices certified for it. The offering is expected to be available in the first half of 2023.For the fiscal year ended July 30, 2022, CSCO’s total revenue increased 3.5% year-over-year to $51.56 billion. The company’s non-GAAP net income increased 3.4% year-over-year to $14.09 billion. CSCO’s non-GAAP EPS for the fiscal year increased by 4.3% from the prior year to $3.36.For the fiscal first quarter (ended October 2022), analysts expect CSCO’s revenue to come in at $13.29 billion, representing an increase of 3% year-over-year. For the same quarter, the consensus EPS estimate of $0.84 indicates a 2% year-over-year increase. The company has surpassed the consensus EPS estimates in each of the trailing four quarters, which is impressive.The stock has gained 10.3% over the past month to close its last trading session at $44.79.CSCO’s POWR Ratings reflect a promising outlook. It’s no surprise that CSCO has an overall B rating, which translates to Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.CSCO is also rated an A for Quality. Within the Technology - Communication/Networking industry, it is ranked #4 of 48 stocks.Click here to see the additional POWR Ratings for CSCO (Momentum, Value, Sentiment, Stability, and Growth).Juniper Networks, Inc. (JNPR)JNPR designs, develops, and sells network products and services worldwide. The company’s offerings include routing products, switching products, and security products.On October 25, JNPR announced a dividend of $0.21 per share, payable to stockholders on December 22. This reflects the company’s ability to pay back its stockholders sustainably.On October 11, JNPR announced that Virtual-Q, an IT Services and IT consulting provider, had selected Juniper Apstra data center solutions to modernize and automate its network infrastructure to provide a scalable and seamless customer experience. This should benefit the company.In the fiscal third quarter ended September 30, 2022, JNPR’s total revenue increased 19% to $1.41 billion. Non-GAAP operating income increased 23.2% year-over-year to $243.70 million. Non- GAAP net income came in at $190.80 million, while its net income per share stood at $0.58, up 25.5% and 26.1% from their year-ago values, respectively.For the fiscal fourth quarter (ending December 2022), analysts expect JNPR’s revenue to come in at $1.48 billion, representing an increase of 14.2% year-over-year. For the same quarter, the consensus EPS estimate of $0.65 indicates a 15.5% year-over-year increase. The company has surpassed the consensus revenue estimates in each of the trailing four quarters.The stock has gained 15.9% over the past month and 2.2% over the past five days to close its last trading session at $30.50.JNPR has an overall B rating, which translates to Buy in our proprietary rating system. The stock is also rated a B for Quality, Value, and Growth. Within the Technology - Communication/Networking industry, it is ranked #3.To see the additional POWR Ratings for Momentum, Sentiment, and Stability for JNPR, click here.Celestica Inc. (CLS)CLS operates as a hardware platform and supply-chain solutions provider. It operates through two segments: Advanced Technology Solutions and Connectivity & Cloud Solutions. The company is headquartered in Toronto, Canada.On October 18, 2022, CLS launched the DS1000 high-performance Gigabit Ethernet Layer 3 switch. This should benefit the company through its contribution to the OCP Enterprise Connectivity Solutions (ECS) group.On August 2, 2022, CLS launched three new storage arrays. The new generation arrays are expected to offer flexibility and widen the company’s consumer base with customized solutions.In the fiscal third quarter ended September 30, 2022, CLS’ IFRS revenue increased 31.1% year-over-year to $1.92 billion. For the same quarter, non-IFRS adjusted net earnings came in at $63.60 million, while its non-IFRS adjusted earnings per share stood at $0.52, up 46.5% and 48.6% from its year-ago value, respectively.For the fiscal fourth quarter (ending December 2022), analysts expect CLS’ revenue to come in at $1.96 billion, representing an increase of 29.7% year-over-year. For the same quarter, the consensus EPS estimate of $0.54 indicates a 21.9% year-over-year increase. The company has surpassed the consensus EPS estimates in each of the trailing four quarters.The stock has gained 29.2% over the past month and 6.8% over the past five days to close its last trading session at $11.45.CLS has an overall A rating, which translates to a Strong Buy in our proprietary rating system. It is also rated an A for Sentiment and Growth and a B for Value. Within the Technology – Services industry, it is ranked first out of 76 stocks.In addition to the POWR Rating grades we’ve stated above, one can see the additional CLS grades for Momentum, Quality, and Stability here.CSCO shares were trading at $45.32 per share on Monday afternoon, up $0.53 (+1.18%). Year-to-date, CSCO has declined -26.24%, versus a -14.90% rise in the benchmark S&P 500 index during the same period.About the Author: Anushka DuttaAnushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.More...The post Looking for Tech Stocks? 3 That Are Great Buys Now appeared first on StockNews.com