Up 36%, This Nasdaq Stock Looks Like a Screaming Buy
Technology stocks are having a forgettable year so far as investors have shunned fast-growing but richly valued companies in the wake of surging inflation, Russia's war on Ukraine, and rising interest rates.
These factors have sent the Nasdaq-100 Technology Sector packing in 2022, with the index losing 26% of its value so far. However, Sierra Wireless (NASDAQ: SWIR) has turned in a terrific performance despite the tech sell-off, with impressive gains of 36% this year. Let's look at the reasons why this tech stock has investors excited and see whether it can sustain its impressive run.
Sierra Wireless is a provider of routers, modules, and other connectivity hardware and software for Internet of Things (IoT) applications. The chipmaker has witnessed healthy demand for its IoT products and solutions, as evident from its first-quarter 2022 results
(released on May 11).
Source Fool.com
