For Immediate Release
Chicago, IL – March 12, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc.
AAPL
, Alphabet Inc.
GOOGL
, Amazon.com, Inc.
AMZN
and Garmin Ltd.
GRMN
.
Here are highlights from Thursday’s Analyst Blog:
4 Stocks to “Watch” Amid Booming Demand for Wearables
Wearables are quickly becoming a go-to urban trend, thanks mainly to the rising fitness awareness among consumers. Moreover, wearables, especially smartwatches, allow users to respond quickly or glance through their notifications without having to check the connected smartphone. Notably, per a report by Research and Markets, the shipment volume of smart wearables is estimated to reach 776.23 million units globally by 2026 from 266.3 million units in 2020 at a CAGR of 19.48% from 2021 to 2026, as mentioned in a
Business Wire article
.
Meanwhile, the wearables market has also seen growing adoption of ear-worn devices owing primarily to the COVID-19 pandemic last year. As organizations and businesses around the world shifted to a remote-working model, employees had to invest in ear-worn devices to attend video conference calls and meetings. In fact, a
report
by Gartner stated that spending on ear-worn devices totaled $32.7 billion in 2020 and is expected to reach $39.2 billion this year.
Moreover, reflective of the rising shipment volume of smart wearables, the Gartner report stated that the worldwide end-user spending on wearable devices is also expected to continue its robust growth, and increase 18.1% in 2021 to $81.5 billion from $69 billion in 2020.
Notably, Gartner stated in the report that the COVID-19 pandemic was instrumental in boosting the demand for wearables. Ranjit Atwal, senior research director at Gartner, stated in the report that the wearables market was presented with significant opportunities owing to the introduction of health measures to self-track COVID-19 symptoms. Moreover, lockdowns all around the world also led consumers to be more interested in personal health and wellness.
In fact, per another
report
by Grand View Research, the global wearable medical devices market is expected to witness a CAGR of 26.8% from 2021 to 2028. Notably, the report stated that factors like home healthcare and remote patient monitoring are expected to influence market growth for wearable medical devices.
Moreover, the report stated that lifestyle-associated disorders such as hypertension and diabetes are expected to increase during the forecast period. This, in turn, calls for constant monitoring of physiological parameters such as blood pressure and blood sugar levels, thus influencing the demand for portable medical devices.
4 Stocks to Watch Out For
The global wearables market seems poised to witness further growth due to factors like rising fitness awareness among consumers as well as the convenience of glancing through and responding to notifications. Moreover, the COVID-19 pandemic only seems to have accelerated the demand for wearables as a safe way of self-tracking the symptoms while the rising prevalence of life-style associated disorders is likely to aid the demand for wearable medical devices.
Hence, this seems to be a good time to look at names that can benefit from this continued upswing in demand for wearables. We have selected four such stocks that carry a Zacks Rank #2 (Buy) or 3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Apple
designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Notably, the company offers a series of smartwatches under the Apple Watch segment and wireless ear-worn devices, namely, AirPods. Apple currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 10.9% over the past 60 days. The company’s expected earnings growth rate for the current year is 36.3%.
Alphabet
provides online advertising services internationally. Notably, Alphabet’s Google offers its wearable version of android operating system, namely Wear OS, which works with both Android and iPhone. The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 10.7% over the past 60 days. The company’s expected earnings growth rate for the current year is 17.8%.
Amazon
engages in the retail sale of consumer products and subscriptions in North America and internationally. Notably, the company introduced its fitness band and subscription service Amazon Halo. The band can measure the wearer’s body fat percentage and also the emotional state by listening to the tone of the voice. Amazon currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 10.5% over the past 60 days. The company’s expected earnings growth rate for the current year is 18.2%.
Garmin
designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices internationally. The company’s fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices, among others. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 2.8% over the past 60 days. The company’s expected earnings growth rate for next year is 10.3%.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss
.
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https://www.zacks.com/performance
for information about the performance numbers displayed in this press release.
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