4 Top Stocks to Buy in the Networking Industry
StockNews
Published Aug 26, 2021 12:02PM ET
Updated Aug 26, 2021 01:30PM ET
4 Top Stocks to Buy in the Networking Industry
The networking industry is playing an essential role in ongoing, global digitalization. In addition, it is next to impossible for businesses to function efficiently in today’s fast-moving world absent good, digital connectivity. So, we think it could be wise to now scoop up the shares of quality networking stocks Ciena (NYSE:CIEN), Lumentum (LITE), Extreme Networks (NASDAQ:EXTR), and A10 Networks (NYSE:ATEN). So, let’s take a closer look at these names.The demand for networking solutions—such as high-speed Ethernet switches and routers—grew considerably with the advent of the COVID-19 pandemic because of remote lifestyles' increased dependence on virtual connectivity. Furthermore, with the rapid spread of the highly contagious Delta variant, the demand for networking solutions could continue to rise.
The infrastructure bill passed by the Senate earlier this month includes a $65 billion investment to improve the nation's broadband infrastructure. And the networking industry could continue to witness increasing demand with the growing adoption of 5G and cloud-based devices. According to Statista, the global network management systems market is expected to grow to $12.2 billion in 2027 from $6.7 billion in 2020.
Given this backdrop, we think it could be wise to bet on fundamentally strong networking stocks Ciena Corporation (CIEN), Lumentum Holdings Inc . (NASDAQ:LITE), Extreme Networks, Inc. (EXTR), and A10 Networks, Inc. (ATEN).
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