This Dirt-Cheap Tech Stock Is Crushing the Market After Earnings

Tech stocks are having a rough time on the market this year, with the Nasdaq-100 Technology Sector index shedding nearly 20% of its value in 2022. But Sierra Wireless (NASDAQ: SWIR) has bucked the trend of late with a solid set of earnings results for the fourth quarter of 2021.

Shares of the Internet of Things (IoT) specialist, which provides modules, routers, connectivity chips, and services, shot up nearly 16% following the release of the earnings report on Feb. 22, and they have continued to move higher ever since.

Sierra stock could deliver more upside, as the chipmaker's growth has started picking up the pace. It shouldn't be surprising, as it serves the fast-growing IoT market where there's robust demand for chips. Let's look at the reasons why Sierra Wireless is primed for more upside and check why now is a great time to buy the stock.

Source Fool.com