3 "Internet Of Things" Stocks To Buy Right Now In 2019

Tech stocks have been unpredictable lately, but there are a number of new secular trends which investors are looking to remain exposed to in the long-term. Of these, easily the most exciting for certain semiconductor companies, gadget makers, and telecom firms is the Internet of Things.

For those that don’t know, the Internet of Things is the growing world of interconnected household and industrial devices. Everyday products and machines can now be embedded with sensor technology to process data or interact with other electronic devices.

For example, consumer-level IoT products include things like Amazon’s (AMZN - Free Report) Echo “smart speaker,” wearable motion and activity tracking products, and advanced in-car technology. On the commercial side of the IoT market, industrial manufacturers have begun implementing sensors into machines to track performance and efficiency.

The obvious play here for investors is semiconductor stocks, as chipmakers should be able to benefit from the growth of connected devices. But chip stocks have been sluggish recently. Wall Street is projecting an end to the extended cycle of strength for the industry, and investors are worried about headwinds such as demand and pricing.

Still, there is room for niche semiconductor firms to maintain their growth as the Internet of Things continues to blossom. And there are other ways to profit from IoT growth by maintaining a focus on other pieces of the technology that helps the network function.

With that said, we’ve found three stocks which have been flagged by the Zacks Rank that could be poised for further IoT growth soon.

1. Marvell Technology Group Ltd. (MRVL - Free Report)

Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuits. The company’s “EZ-Connect” platform is used by a variety of global customers in the home automation, wearables, automotive, and industrial industries. MRVL is currently a Zacks Rank #1 (Strong Buy).

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this ...

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