Better Buy: Sierra Wireless vs. Qorvo

The Internet of Things (IoT) is one of the hottest tech trends right now. Not surprisingly, a huge number of companies are trying to jump on to the IoT bandwagon since it is supposed to open up a multibillion-dollar revenue opportunity.

IC Insights forecasts that IoT semiconductor sales could exceed $31 billion in 2020 as compared to $18 billion last year, thanks to deeper penetration of IoT solutions that will result in more devices connecting to the internet. This is why chipmakers Sierra Wireless (NASDAQ: SWIR) and Qorvo (NASDAQ: QRVO) have trained their sights on the IoT space.

Sierra Wireless is a pure-play IoT specialist that leads the machine-to-machine (M2M) connectivity market. The company has taken smart steps to keep itself ahead of the pack through a mix of acquisitions and product innovation. Qorvo, on the other hand, has become serious about making money in IoT as its over-reliance on Apple has started weighing on the top line.

Source: Fool.com