This Boring Cloud Computing Stock Is a High-Yield Dividend Dream
Investing in manufacturing businesses can be a wild ride, and the semiconductor industry is no exception. Sensitive to supply and demand trends and driven by event-like hardware upgrade cycles, these tech stocks can yield some incredibly wild swings in price. That's particularly evident in the digital memory chip space.
Seagate Technology (NASDAQ: STX) is coming out of a multi-year cyclical downturn along with its peers in the memory industry, driven by strong demand for cloud computing during this coronavirus-influenced year. The ensuing economic crisis is rendering many businesses and legacy operations redundant, creating an enduring outlet for this company's wares. It is far from the highest-growth semiconductor outfit out there, but for investors in search of yield, there was plenty to like after Seagate provided its mid-year 2020 update.
Image source: Seagate Technology.
Source Fool.com
