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4 Best Computer Hardware Stocks to Buy in May By StockNews

© Reuters. 4 Best Computer Hardware Stocks to Buy in May

Because the remote working culture is here to stay even in the post-pandemic environment, increasing demand for computer hardware should be anticipated because computers help facilitate new connectivity demands, such as cloud-based activities. So, we think it could be wise to bet now on established computer hardware companies Dell (DELL), HP (HPQ), Synopsys (NASDAQ:), and Canon (CAJ). They are expected to generate significant returns this month and beyond. Read on.The broader tech market staged a comeback yesterday after falling for three consecutive sessions because investors were reassured after United States’ jobless claims hit a fresh pandemic low. Tech stocks are also expected to continue dominating the market in the foreseeable future given that several companies are expected to continue with remote working structures even in the post-pandemic environment due to its benefits and convenience.

The use of internet of things (IoT), artificial intelligence (AI), and cloud-based products and services is expected to continue increasing, which will drive a growing need for computer hardware. According to Globe Newswire, the global computer hardware market is expected to hit $1,117.8 billion in 2025, growing at a 6% CAGR.

So, we think it could be wise to bet now on established computer hardware companies Dell Technologies Inc. (NYSE:), HP Inc. (NYSE:), Synopsys, Inc. (SNPS), and Canon Inc. (CAJ). They have the potential to capitalize on the industry’s growth.

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