Sierra Wireless Is Still Waiting for a Rebound in the Internet of Things
The increasing acceptance of the Internet of Things (IoT) trend hasn't been good to Sierra Wireless (NASDAQ: SWIR). The stock is back to plumbing new multiyear lows after its third-quarter 2019 update showed another year-over-year decline and a lackluster outlook.
It's been a long road to no recovery so far, and hardware is to blame. However, the company is still waxing positive, as IoT adoption still holds promise for the software and service side of the business.
First off, I'd like to address my "too cheap to ignore" thesis after Sierra's midyear 2019 update a few months back. Turns out shares could get much cheaper, as shares are down nearly 20% as of this writing after that Q3 update.
Source Fool.com
